Opulous, devised and launched by the founders of DIY music service Ditto, is a blockchain-powered financial platform for artists that enables split music copyright sales via NFTs and non-copyright fan-experience drops through a Binance partnership. In April, while operating as Bluebox, Opulous hosted the first-ever split music copyright sale via NFTs, with British rapper Big Zuu and US artist Taylor Bennett each selling collections of 1% stakes in unreleased recordings. All 125 items sold out in under 30 seconds with over 10,000 people attempting to access the sale; buyers received worldwide exclusive fractional licenses in perpetuity. The company closed a $6.5 million funding round to fund the next stage of growth, of which $1 million was raised via a crowd-raise executed by lottery. Founder Lee Parsons said some of his “favorite artists” are investors but is keeping the backers’ names to be announced, and that demand could have supported roughly ten times the amount raised. Opulous plans to use its Binance partnership to sell additional NFTs such as VIP fan experiences and to launch exclusive music NFT drops led by Lil Yachty and Kyle, and the company is hiring for a Los Angeles-based Head of Artist Services. An article update notes that in January 2022 Lil Yachty filed a lawsuit against Opulous alleging use of his name and likeness without permission.

Total raised

$7M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2021