Opus Foundation: Solving problems in the music industry: Opus Q&A 7music ico cryptocurrency crypto blockchain
We are happy to welcome Lion Shepherd, the latest band to join Opus! More about them below.
This time we have received lots of questions regarding marketing, how we intend to solve problems in the music industry, and our token. We hope this Q&A will clarify these issues. Don’t forget to send us more questions on our form, Discord, Telegram, or via e-mail at [email protected]
1. What will OPT accomplish for a subscription streaming service that fiat can’t?
Cryptocurrencies are natural for blockchain-based systems. Furthermore, by using cryptocurrencies, we can implement our smart contracts, guaranteeing transparency and control over how the funds are distributed.
2. If the Opus platform will accept Ethereum and even Bitcoin potentially, what is the use of the Opus Token?
Bitcoin and Ethereum payments are solely for convenience, these currencies will be automatically converted to OPT in the backend. Users who hold OPT will have more possibilities on the platform in the future.
3. What strategy will Opus employ to drive musicians and users to the platform and when will this initiative start?
When we get a bit closer to the launch date, we will be putting a greater emphasis on marketing which will attract more users and musicians. International exposure is vital to make this project succeed. We are planning to sponsor several large conferences internationally, in the UK, the USA, and Poland, which we will be announcing further down the line. Our sponsorship will also extend to concerts and music events. We will also get involved in digital marketing, as well as announcing major partnerships with other startups. Furthermore, we will be contacting more established artists who will help Opus get more users.
We have a detailed marketing plan that we are beginning to focus on more, we will be sure to announce every event we sponsor and every artist we recruit in official updates to keep our community in the loop.
4. The verify the identity of artists, have you considered letting token holders do this and earn tokens in the process?
This is a very interesting idea. For the time being, this process will be done by our team to ensure efficiency and a speedy recruitment process for artists.
5. What are the key features of Opus that distinguish it from other music DApps?
Opus is one of the very few blockchain-based projects with a working demo, as well as a scientific whitepaper that focuses on the technologies behind the platform rather than making flashy promises. We are also far ahead of our competitors in terms of the development and making various strategic decisions. Some of our competitors, for example, are still not sure whether they will be a streaming platform or pursue a buy-to-own model. Furthermore, we have already had global exposure by being featured in media outlets such as Forbes, Business Insider, or The Huffington Post.
Our team is very skilled at running startups; indeed, Mateusz Mach, our COO, is a Forbes 30 Under 30 winner, and our team of developers has very extensive experience with developing projects based on the blockchain.
Perhaps what distinguishes Opus most from other music DApps, and what will make Opus succeed, is our incredibly amazing and supportive community.
6. Besides Ethereum Raiden, are you looking at other DApp platforms to scale your product in the future?
Currently, our research will stick to Ethereum Raiden, but we are not dismissing other options if they prove to be more useful.
7. Are you planning to involve a QR code function for tipping and transferring Opus tokens to musicians?
Smart contracts transfer tokens automatically to the artists, whether that is the revenue generated from the subscription fees or from tips. In future versions of the player, we will be considering integrating a QR code function.
8. Will the team be attending more conferences?
As was mentioned earlier, we are planning to not only attend conferences, but also sponsor them. We will release more information about that soon.
9. How does Opus escape the issue of streaming platforms when it’s about to become one?
One of the biggest flaws in existing streaming platforms is that artists do not receive a large part of the revenue they generate; in fact, most of the revenue goes to the company behind the platform. With the development of IPFS and other decentralized technologies, we will be able to significantly reduce storage costs and as such, we will not require a large cut from the profits of the musicians. Instead, artists will be able to keep the large majority of their revenue.
10. Smaller artists are often unable to make a living from music streaming. How is Opus solving this problem rather than contributing to it?
This is a very big problem for many artists who are trying to make a living from their music. Aside from the increased profits artists will have at Opus, we also ensure transparency with our smart contracts. At existing music streaming platforms, the revenue distribution is shrouded in mystery with no one really knowing where the funds go. We will be very open about this, which the smart contracts will accomplish.
Other streaming platforms promote their biggest artists and all their newest releases. At Opus, we intend to market all our artists, both superstar artists and the more indie artists still trying to establish themselves. We find this approach to be fairer for everyone involved, both for the artists who will have the opportunity to share their music with the world, and for the users who will be able to discover more music that they may not necessarily find on platforms that only value their greatest stars. Opus is aimed primarily at independent artists who are still not fully established in this competitive industry.
The Lion Shepherd is a musical project by Kamil Haidar and Mateusz Owczarek. The two musicians so far associated with the world of heavy sounds have now decided to incorporate folk and acoustic music within their newest venture, Heat. The band’s art oscillates around world music and trance; there are distinct Middle Eastern influences, but does not replace the rock, blues, and progressive sounds. The band has two records so far (Hiraeth from 2015, and Heat from 2017) and is intensively touring.
A year and a half after a very successful debut, Lion Shepherd is back with their newest album, Heat. The record contains 10 premiere tracks and is expected to cement the band’s style and position in the European market.
The combination of ethereal, open forms, rich instruments, excellent guest stars, and solid rock playing can all can be found by the listeners who appreciated the band’s debut album. However, the Lion Shepherd is a progress-oriented team, and Heat contains completely new sounds, instruments, and inspirations that will surprise even the most loyal fans.
Development update coming next Monday
Our next development update is coming in one week, on Monday. In the meantime, please keep sending us more questions on our form, Discord, Telegram, or via e-mail at [email protected] for our next Q&A in two weeks’ time. You can also track our progress on Facebook and Twitter.
Original article was created by: Opus Foundation at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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