Opulous announces AI tool for streaming royalties

Since its launch in February 2021, Opulous has been operating as a decentralised financial (DeFi) platform and currently boasts a market capitalisation of $65.7m, as reported by CoinGecko.

The innovation, touted as “one of the first financial AI tools for the $27bn global music industry”, allows users to calculate an advance structure for each song based on different rates pre- and post-recoup. It is expected to facilitate transparent decision-making for artists, labels, investment banks and Opulous’ OPUL cryptocurrency token holders. The launch, in partnership with distro Ditto Music, will adopt a freemium model for OPUL holders and a paid model via subscriptions.

“Musicians lack the proper tools to evaluate their deals,” the company said. “Opulous AI provides predictive streaming royalties based on an algorithmic dataset, enabling anyone to input details of past and upcoming releases and accurately predict 10-year earnings.”

“Using AI, Opulous removes months of labour-intensive work for labels and investors and gives artists a true valuation for their music, helping them sign more transparent deal terms,” Opolous founder Lee Parsons, who is also co-founder of Ditto Music, said.

“Rather than teams of data analysts and financial experts poring over years of data, Opulous.AI will do the work for you in a few seconds. This allows all parties to assess the value of the music effectively, adding a new layer of transparency to a multi-billion dollar market and a fair landscape for all.”

Meanwhile, Opulous is set to enhance its ecosystem with upcoming features, including OPUL Staking, Opulous Tickets for accessing products, Music Fungible Token (MFT) Airdrops with renowned artists, and Opulous AI BETA early access, all utilising the Opulous Tickets system.