OPUS : A BlockChain Based Decentralized Music Sharing Platform

in blockchain •  2 months ago

OPUS : A BlockChain Based Decentralized Music Sharing Platform | Overview & Specifications

With the advent of BlockChain Technology, the world is changing rapidly. BlockChain technology is making every application transparent and rigid for any manipulation along with taking control out of the hands of a central authority. Now, with several Blockchain applications for each domain, cost has been decreasing with high security and transparency.

Now, let's talk about Music.

Music has now become a necessity rather than a hobby. Music industry is a Billion dollar industry worldwide where people create, distribute, market, upload and share music for their living as well as their passion for music. Music Industry is centralized and Big players are ruling the Music industry where all the distribution and ownership rights has to be decided. It's up to Big players of Music Industry to fix a price for an artists skills.

To overcome this downside and provide people a clean, easy to use interface to set ownership as well as sharing on multiple platforms, a blockchain based platform has come into existence which goes by the name of OPUS.

OPUS Overview

OPUS is a Blockchain based Decentralized platform for music-sharing which focuses on the issue of Music ownership and sharing it at multiple platforms with ease and full control without having any requirement of a middleman.

OPUS delivers a variety of music to it's users along with a good payout for artists for music creation. In real World, most of the payouts from music distribution get assimilated by the Distribution platforms while artist will get only a tiny fraction out of it. OPUS uses smart contracts to conquer this monopolized system and gives all the control in the hands of an artist as to the price setting and platforms selection where it is to be distributed.

OPUS stores the music tracks on IFPS while private keys will be stored on Ethereum Blockchain. In this way, OPUS can deliver any music file with ease and comparatively faster than conventional music-sharing platforms.

What Problems OPUS Solves?

There are many problems which has deep roots in our Billion dollar Music Industry nowadays. As we can see, artists are leaving traditional means of music sharing and adopting internet based mediums like Youtube, LBRY and dTube. There must be some reasons as to why artists are doing this. Let's discuss all those reasons and immediate problems which an artist faces:

High Fees & Royalty

Music sharing industry is full of charges and royalty contracts. Platforms like Spotify & Apple Music charges high streaming fees which most of the small artists can't afford to pay. Along with that, a herd of middlemen also remains which try to accumulate as much profit as they can from music streaming platforms.

OPUS solves the problem of fees by taking control out of the hands of distribution platforms to artist's hands . Now, an artist will decide at what price he wants to transfer the ownership of a particular music file to a user.

Censorship

Well, this problem persists greatly among the music sharing industry. There are certain censorship issues as well as various legislation on major music streaming platforms as to the quality of music and the country or region where it is to be distributed. For example, many streaming platforms are not available worldwide even though they should be accessed from anywhere but in reality they can't because of legislation.

But now with the use of OPUS, one can access any music file from anywhere without any legislation and censorship issues.

Playlists Makers Less Payment

Generally playlist makers don't get paid enough to make online playlists as per the genre, artists, year, composer, and singer, This requires a lot of hard work to manage a playlist of only some music files. Still, they don't get paid enough for their hard work.
But now with OPUS, playlist makers can be paid handsomely for organising playlists within OPUS platform. They can even set a price for managing a playlist on demand.

OPUS (OPT) Tokens

OPT tokens are the in-built cryptocurrency of OPUS platform and all the transactions will be done in this cryptocurrency. All the fees, ownership rights will be sold in OPT tokens too. These tokens also provides right to vote on OPUS DAO meeting happens every month regarding marketing and development of OPUS platform.

OPUS (OPT) Tokens Stats & Charts

Statistics

Total Market Capitalization: $4 Million
24 hr Volume: $4.5 Thousand
Total Supply: 249.3 Million
Current Price: $0.030

Charts

Visit OPUS Website

Information Source

Image 1 2,3,4

Author: @cryptonet

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Your link does not work :

If I click on "Visit OPUS Website", I am getting:
https://http//opus-foundation.org/

Chinese Crypto Exchange Ban - It's good chance for ICOs to allow some hedge solution))

Sorry, but here i will post adv of our ICO that is different from others.
We do Elon Musk idea for text mining!
https://steemit.com/blockchain/@gromozeka/pre-ico-ann-preico-for-artificial-intelligence-platform-graphgrailai-starting-25th-september-2017

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I wouldn't want to feed the Billionaire Xi living as a capitalist while forcing the rest of the people to live under Communist oppression and enslavement to the State anyhow. Although those few "underlings" of Chinese citizens who have access to a computer with VPN to reach out beyond their national communistic prison, it will be the higher ranks that are capitalising on cryptocurrencies.

Hopefully, however, those of us which live in the free-er world can help rescue the poor Chinese out of their communist bondage to discover freedom of prosperity.

wow

Wow! Another promising platform. The rewards for playlist organizers is a great thing to look forward to.
I will constantly check this OPUS out. :)

@adsactly, please do double check your Visit OPUS website hyperlink. Seems you have an error on your link. I just noticed. :)

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https://opus-foundation.org/
Here is the link to OPUS Website for the ones trying to access the page :D

Thanks I never had Spotify at all.... Opus will make a big change in here! Peace .V by the way.. enter like here..

ENTER LIKE THIS /// No HTTP!

opus-foundation.org

Tx for your info. I was thinking to invest in opus

Where can i buy it? Can't find it on Bittrex.

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yeah I have the same question

Great idea! I'm sure it sounds tempting for many musicians out there.Wanted to check the Opus website, but the link somehow doesn't work.

Hell yea, i'm gonna check this out! Thanks for sharing,great post! How they come up with the name tho?

Thanks for the information. Sounds like a game changer, will def look into OPT

Awesome post @adsactly . I think this concept is similar to steemit and do very well. Thank you for providing the information so early price of OPT is just 0.03 dollars this is the right time to invest. @adasactly thank you very much.

How can I play some music ?

Opus is a great project, I currently have some coins that I acquired in a trader and I am waiting to test the platform, I believe that in the long term it will be something incredible, hopefully many artists worldwide will join this type of project which will greatly hurt the entire musical community, making the small artists can live their music and so they can open doors to progress in their artistic career, thank you very much for sharing and for information, greetings.

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pocketsend:100@rusinho027, The music industry is a great example of lots of middlemen between producers of music and listeners of music. Great that a blockchain application can try to take out the middlemen and make the process of delivering music more efficient.

The same goes for the writing industry.

The project 'Authorship' essentially focusses on the same as this project but then in relation to the writing business.

Let's hope both will find a place in the market.

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Successful Send of 100
Sending Account: wekkel
Receiving Account: rusinho027
New sending account balance: 1994146
New receiving account balance: 99
Fee: 1
Steem trxid: c0b4892c96a64550779258fe387fa7147d4ca923
Thanks for using POCKET! I am running this confirmer code.

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Successful Send of 100
Sending Account: wekkel
Receiving Account: rusinho027
New sending account balance: 1994146
New receiving account balance: 99
Fee: 1
Steem trxid: c0b4892c96a64550779258fe387fa7147d4ca923
Thanks for using POCKET! I am small bot and right now I am running this code.

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thanks for the comment and for the shipment made, but as I am new I do not know how to confirm it, if you could explain how it works, I would appreciate it, again thank you very much!

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You do not have to confirm it. The Pocket token sub chain does everything for you. You can now send Pocket tokens to other Steemit users with the command you have seen in my prior post.

Read more about Pocket tokens here: https://steemit.com/pocket/@biophil/pocket-genesis-is-now-complete-total-supply-1-222-001-222-tokens

very interesting article

Even if this platform doesn't take off, as a musician i will still support it! And IPFS technology is great in the long term for safe data accumulation!

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Seems to have potential, but last update on their github was 2 months ago.

@adsactly Thanks for sharing. Love it. Followed

https://opus-foundation.org/
Here is the link for those trying to access OPUS website, There is some problem with the link provided above :D

Nice share @adsactly
I resteem this post

Wow man, this is just amazing. I recently made a post talking about how important music is in our lives, and now I read this involving music with blockchain is just awesome, How far could this go? I mean, applying the blockchain technology we are gonna be able to have a Decentralized everything, this might bring a much more sincere, effective and direct world. I can not stop thinking about how people in the future is gonna be talking about this blockchain revolution as a big part of modern history.

Anothere platform especially designed for music lovers, teenagers and youths.

This looks very interesting, as a musician it is all too easy to say that i do it for the love of it, i do of course, and for the 'get it out there' and get listens, or views, but it has become increasingly difficult to get either of these and has become frustrating and disheartening. This feels like a step back in the right direction.

Make sense and convincing concept.
thanks for sharing
glad to follow you Cheers ...

If Opus can't do it, another Blockchain will disrupt the music industry! I can't wait!

This is intriguing. I wonder if they will find themselves partnering or generating a joint venture with pre-existing platforms like soundcloud.

Very cool. Very innovative and sounds very promising!

Thanks for this article!
OPUS is one of the rare ICO in which I have invested.
I really like their vision and I really believe it could be a successful project.
Upvoted and resteemed ;-)

Edit: OPUS has published a development update: https://medium.com/@info_62555/opus-development-update-c954cc71319d

@adsactly Thanks for your work sir.... Love it.

This looks interesting. I've just gotten into investing in cryptocurrencies. Are you on Bittrex? I will look for you on the exchanges.

@adsactly yeah! Why I have never considered that until eventually now. Tend to be the animals immortal in advance of male fully commited sin???.

@adsactly Thanks for your work sir.... Love it.

@adsactly its really intriguing data..excellent submit preserve it up..

and how can i upload my tracks there?

I bought some OPUS

@adsactly Very well performed for sticking at it! It is just a new strategy for lifetime therefore you are modern-day pioneers. Adore it..

This sounds really interesting. Definitely have to check this out and see what it's all about. Thanks for getting this information out there.