D.I.Y.

Opulous adds MFTs (Music Fungible Tokens), an SEC compliant music investment vehicle on the blockchain

NFT platform Opulous has added a new type of token – the MFT (Music Fungible Token) – which combines the power of blockchain technology with an an investment framework tailored to the music industry.

More than just smart branding, Opulous created MFTs as a better way to split music copyright tokens into equal shares.

“Opulous is the first company to split up music royalties and we have pioneered music NFTs since our inception” said Opulous CEO Lee Parsons who also heads music indie platform Ditto. “We love the term MFT and believe it positions Opulous at the forefront of the music industry at what will be a tremendous evolution for fans and artists.”

Investors will receive rights to music royalties through a limited number of MFTs, each representing a music copyright security token compliant with SEC (U.S. Securities and Exchange Commission) regulations.

Opulous will use this token as the basis for all MFT sales (previously S-NFT), as they are divisible and can be easily traded for another asset of like-kind. As such, MFTs allow Opulous to offer fractional investments while ensuring that each fraction is equivalent to the next.

New MFT launchpad

In the coming weeks Opulous will add a music NFT launchpad that will use traditional NFT structures to sell art, fan experiences, and focus on long term NFT utility for musicians.

The new Opulous NFT launchpad will help artists receive up-front funding through MFT fundraising campaigns and offer bespoke generative artwork NFTs.

Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.

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