Opus price is $0.00003671
Opus (OPT) is currently priced at $ 0.00003671. In the last 24 hours, the price has increased by +0.00%.
Opus is a cryptocurrency that aims to innovate the music industry. It represents a novel approach, with the explicit purpose of empowering small and independent artists. The team behind Opus claims that traditional music streaming platforms drain up to 80% of an artist's revenue; a situation that is particularly hard on lesser-known or upcoming artists. Opus seeks to address this imbalance by leveraging the unique characteristics of blockchain technology, which can facilitate more equitable distribution of revenue and offer enhanced transparency in transactions.
The creators and team behind Opus have not been explicitly named in the available information. The project is maintained and managed by the Opus Foundation, as stated on their official website. However, because it's an open-source project, contributions could come from various software developers and music industry enthusiasts worldwide who believe in the project's vision.
Opus operates based on blockchain technology. Blockchain's decentralized nature allows for efficient and transparent peer-to-peer transactions. Presumably, when artists upload their music to the Opus platform, each song is converted into a unique smart contract on the Opus blockchain. These smart contracts manage the distribution and monetization of the song.
Listeners can then access the platform, listen to songs, and contribute directly to the artists. What's unique here is that the revenue from listeners goes fairly and squarely to the artists, solving the problem of significant revenue loss encountered on traditional streaming platforms.
Opus decentralizes the music industry, allowing small artists to have complete control over their revenue and their music. By removing the middlemen, artists can earn a significantly higher percentage of the income generated from their music. This could potentially allow more artists to make a living from their music, encouraging a more vibrant and diverse music industry.
The current circulating supply of Opus (OPT) is 140.1M, while it has a maximum total supply of 249.3M. As of the latest update, the market cap of Opus ranks at #3809 with a total market cap of $ 5.1K.
Yes, Opus (OPT) is available for trading on several crypto exchanges. However, it's always wise to examine the latest market conditions and the available exchanges - HitBTC, Bit-Z, EtherDelta. Always ensure the chosen exchange is reputable and has good security measures to protect your investments.
Opus stands out due to its unique mission of decentralizing the music industry and creating a more equitable environment for artists. It is one of the few cryptocurrencies working to integrate blockchain technology with the creative arts. Its model aims to disrupt traditional music streaming platforms by providing artists with a higher percentage of income and greater control over their music. This vision sets Opus apart in an industry traditionally dominated by financial and technology applications.
Opus intends to leverage blockchain technology to completely restructure the music industry. Through its platform, small artists directly sell their music to listeners, significantly reducing the profit margin taken by intermediaries in traditional music streaming platforms. By creating a more transparent and artist-friendly ecosystem, Opus might influence the music industry to shift towards more equitable practices.
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