• Opus

About Opus

 

The Opus Foundation’s mission is to create a decentralized music-sharing platform that provides listeners with greater choice while providing fair market value compensation to artists. Using smart contracts and peer-to-peer storage, Opus aims to cut out the major middlemen (i.e., the monopolized distribution platforms), so as to empower artists and change the way people pay for music. Opus will offer a free-market system wherein prices are set by the artists, who are incentivized to come up with viable pricing schemes (for example, by charging more for higher bit-rate or mix-ready versions). The platform is beta-ready and a demo is available (for use with MetaMask). A non-blockchain simulation-demo is also available.

Opus’ solution is comprised of four layers: an API layer which interacts with 3rd party players to decode and deliver music tracks; an Ethereum-based business logic layer which handles all the transactions; a directory layer, which is a JSON database that stores all the hashes of tracks available on the network; and an Interplanetary File System (IPFS) peer-to-peer storage layer. The smart contracts store the user decryption keys, reference file hashes to the IPFS storage, and the business logic. Leveraging the speed and redundancy of IPFS, Opus says it can scale and deliver thousands of tracks per second. This throughput is achieved by encrypting music tracks on the fly and storing them permanently on the IPFS swarm, while only the decryption keys and file hashes are saved immutably on the smart contract. Thus artists can monetize their content by selling permanent access to their IPFS music files and decryption keys directly to a fan’s Ethereum contract.

Opus

 

Additional governance mechanisms are planned, such as an Opus DAO (Decentralized Autonomous Organization) treasury funded from a small percentage of each sale, and a bounty system that allows artists to pay a small amount for people to share their tracks (from which playlist-makers can benefit). The OPUS Foundation does not take any money – 97% of the revenue is received by the artists. The purpose of Opus DAO is to allow people to vote on monthly proposals that develop the Opus platform.

Opus, which is situated on Saadiyat Island in Abu Dhabi, was founded by CEO Bokang Jia (previously founder and lead developer of Armageddon RSPS gaming), CTO Chenhao Xu (previously software developer at HackAD), and COO Mateusz Mach (also co-founder and CEO of Five App). The website lists other core team members as well, saying they are all “geeks and programmers at heart,” but LinkedIn profiles are somewhat harder to find. The website also says that the company is now hiring to expand its team. Opus says it received a seed round of funding in December 2016, but will reject additional VC and series A funding due to the foundation’s core philosophy and objectives.

Opus Roadmap
 

 

Opus is not the first to consider that the music industry could benefit from some decentralization. There are non-blockchain initiatives such as BandCamp, PledgeMusic, or Resonate, and PledgeMusic cofounder Benji Rogers has even introduced the idea of a codec and player tied to a blockchain, called dotblockchain. There’s also Bittunes, which uses bitcoin as its primary currency and lets users profit from the peer-to-peer file sharing. Peertracks is another music platform that leverages the use of blockchain technology (MUSE), and LBRY is a similar-but-different blockchain-based solution applied to all kinds of digital content (movies, videos, music, ebooks, etc.). There’s also Ujo, which collaborated with the double Grammy winning artist Imogen Heap (who also has her own related project, Mycelia) on a prototype track to showcase the platform’s novel modular approach to ownership and compensation. Oh, and there’s Voise, which completed an ICO recently, and aims to distribute 100% of the revenue to the artists (charging for premium platform services instead). And there are more. But considering how vast the music industry is and can be, there may be room for everyone, at least until a particular standard is massively adopted.

http://opus-foundation.org/crowdsale.html

 

Interested in deeper analysis – Opus?

 

Team

Bokang Jia

Bokang has over 5 years experience in the software engineering industry. Having started multiple successful ventures, he drives the development of Opus.

Mateusz Mach

Serial entrepreneur and Forbes 30 under 30 winner, Mateusz has numerous successful companies with turnover of 6 figures. Investor and partner, he works closely with Opus foundation on business operations.

Chenhao Xu

Techhead with several years experience ranging from Machine learning to app development. Leads infrastructure and full stack development at Opus. Manages the development team.

Sam Peeters

With significant experience leading teams, Sam works closely with Opus developers to build the underlying infrastructure with a focus on ensuring security within all of Opus subsystems.

Rehan Gotla

With a background in Statistical science, Rehan is in charge of assessing market and platform risks, developing business strategy, and communicating with external groups.

Akira Rao

Akira works closely with the team to drive the successful front-end and back-end development of Opus. He is in charge of ensuring the integrity of Opus core players.

Michael He

Michael is a known researcher within chinese academia. He leads the expansion of the Chinese market, including promotion, marketing, and development.

Mustafa Khan

With over 7 years experience in graphics design and animation, Mustafa oversees the graphical user interface including developing the Opus core players and Opus website.

Charlie Breach

Responsible for overseeing the graphical elements of Opus to ensure a good user experience throughout Opus core apps. This includes designing the UI of the mobile app.

Arief Zul

Mass comms expert; Arief has extensive experience promoting projects and startups. He is in charge of designing and structuring the marketing components of Opus.

Crowdsale Details

Start Time

23-July-2017

End Time

20-August-2017

Total Supply

1600 million OPT in total; 900 million available for crowdsale (unsold tokens will be burnt); 600 million distributed to the Opus foundation, developers, and angel investors; 100 million to be used by the foundation for rewards, marketing bounties and license purchases, etc.

Maximum Raise

The crowdsale will be hard capped at $20M. The amount received from each address will also be limited to 1000 ETH + 1% of the total supply.

Pricing Structure

Phase 1 – Angel funders: 8000 OPT per ETH (Included bonus: 1000) Phase 2 – Early bird: 7500 OPT per ETH (Included bonus: 500) Phase 3 – Standard phase: 7000 OPT per ETH

Holding of Funds

Secure multisig wallet owned by the team.

Project Highlights

Technical White Paper

The Opus whitepaper is comprehensive and detailed, from both technical and business aspects.

Team

There’s not much information (and LinkedIn profiles are a bit scarce), but team appears to be comprised of young and motivated software engineers.

Location

Abu Dhabi

Blockchain

Ethereum

Project Code

https://github.com/Opus-foundation/contracts

Token Rights

Selling and buying music on the network; as well as rewards and bounties, etc.

Token as Asset

Via exchange.

Coming soon.....

People Who read this review, also read

  • SIRIN LABS

    The first open-source, cyber-protected, blockchain-enabled smartphone and PC.

    Crowdsale Starts in 17 days
  • NAGA

    Naga plans to create a system dedicated to social trading and investing in financial instruments, virtual goods & cryptocurrencies.

    20 DAYS REMAIN
  • BitClave

    BitClave is a blockchain based, decentralized search engine that allows its users to control who uses their data and how.

    Undisclosed
  • FansUnite

    FansUnite is a sports betting company that aims to provide cheaper, more secure, verifiable and transparent online sports betting.

    Crowdsale Starts in 17 days
  • BANKEX

    BANKEX is a Bank-as-a-Service on blockchain, building the Proof-of-Asset protocol.

    Crowdsale Starts in 3 days
  • Titanium

    Titanium's goal is to create the decentralized version of Amazon Web Services, Microsoft Azure, and Rackspace

    51 DAYS REMAIN
  • Moirai (MOI)

    Moirai is a prediction market where individuals can wager on the outcome of future events.

    35 DAYS REMAIN
  • Crederoom

    CREDEROOM is a lending company operating throughout the European Union.

    Crowdsale Ended
  • Datum (DAT)

    Datum is a blockchain-based company that utilizes blockchain technology for data management and strives for users to regain control over their personal data.

    4 DAYS REMAIN
  • Confideal

    Confideal enables users with no coding skills to create an enforceable, self-executing and secure digital agreement powered by Ethereum for all types of transactions.

    Crowdsale Ended
  • indaHash

    indaHash is a marketing platform that allows influencers to earn money by participating in brand campaigns on their social media profiles.

    Crowdsale Starts in 4 days
  • Papyrus

    Papyrus is a decentralized platform for the digital advertising industry.

    Ongoing
  • Aeron

    Global Aviation Register with Decentralized Record System

    Crowdsale Ended
  • Dentacoin

    Dentacoin is a platform for the dental industry, planning to use Ethereum smart contracts to improve the quality of dental care worldwide.

    Ongoing
  • Rhea

    Rhea is launching a new options trading platform called Crypto20 which is a weighted index of the top 20 cryptocurrencies at a given time.

    Crowdsale Ended
  • Cindicator

    Cindicator is developing a financial management platform based on “hybrid intelligence”, namely, using artificial intelligence to synthesize the collective intelligence of forecasters into conclusive signals for traders.

    Crowdsale Ended
  • Binary

    a trading company that specializes in binary options, forex and other markets, is now launching their new trading platform for investors to trade with cryptocurrencies.

    30 DAYS REMAIN
  • Nexus Social

    Nexus is a blockchain-based social media platform that incorporates e-commerce as well as privacy functions.

    Crowdsale Ended
  • ARToken by Cappasity

    Cappasity is introducing a decentralized AR/VR Ecosystem for 3D content creation and exchange powered by ARToken.

    Crowdsale Ended
  • Matryx

    A decentralized collaboration platform

    Crowdsale Ended
  • Rakugo

    Rakugo provides content creators with an Ethereum-blockchain-based platform for copyright management, publishing, and monetization.

    Crowdsale Ended
  • LAToken

    LAToken tokenizes and makes tradable fractions of assets

    Crowdsale Ended
  • 300Cubits

    blockchain initiative relieving the $23B pain points of the $150B container shipping industry through creation of a crypto currency called TEU and integration of industry process with Ethereum blockchain.

    Crowdsale Ended
  • Indorse

    Decentralised Professional Networking Platform

    Crowdsale Ended
  • Change Bank

    The First Truly Decentralised Crypto Bank

    Crowdsale Ended
  • Cryptum

    Funding the ultimate board games with free access for token owners

    Crowdsale Ended
  • Monetha

    Decentralised trust and reputation system, mix of PayPal and Trustpilot

    Crowdsale Ended
  • ChronoLogic

    ChronoLogic is creating a way for individuals and companies to secure value through Proof-of-Time. The company is doing so by creating the Chronos Platform – a way for people to create smart contracts pegged to time.

    Crowdsale Ended
  • AICoin

    AICoin is a passive investment vehicle created by First Global Credit (FGC), a bitcoin exchange and platform for trading in stocks, ETFs, and futures.

    Crowdsale Ended
  • UTRUST

    UTRUST is a ground-breaking payment platform that empowers buyers to pay with their favorite cryptocurrencies while providing the best consumer protection in the market.

    Crowdsale Ended
  • HelloGold

    HelloGold brings gold and blockchain to hundreds of millions of people across Asia

    Crowdsale Ended
  • Filecoin

    Filecoin is a decentralized storage network built on a blockchain with a native token.

    Crowdsale Ended
  • Bankera

    Regulated bank for the blockchain era

    Crowdsale Ended
  • Fluence

    Fluence is a blockchain-based data storage platform that allows for decentralized storage and management of encrypted structured data.

    Undisclosed
  • Lordmancer II

    Open-world MMORPG on mobile, mining cryptocurrency

    25 DAYS REMAIN
  • Civic

    Civic is a blockchain-based identity management platform that allows for on-demand, secure, low-cost identity verification. Android and iOS apps are already available.

    Crowdsale Ended
  • KickICO

    Platform for cryptocurrency crowdfunding

    Crowdsale Ended
  • IMMLA

    International MultiModal Logistic Application

    Crowdsale Ended
  • UnikoinGold

    Description

    Undisclosed
  • TokenStars

    Tokenizing celebrities for funding and promoting rising stars

    Ongoing
  • Storm

    Decentralized micro-job marketplace economy

    Crowdsale Ended
  • Decentraland

    Virtual reality world where users can buy and build on parcels of land

    Crowdsale Ended
  • Ethereum Plus

    Undisclosed
  • Po.et

    Crowdsale Ended
  • Soma

    Decentralized social marketplace

    Crowdsale Ended
  • Byteball

    Undisclosed
  • Target Coin

    Undisclosed
  • Sosnovkino

    MODERN INVESTMENT PROJECT IN CONSTRUCTION INDUSTRY BASED ON BLOCKCHAIN TECHNOLOGY

    Crowdsale Ended
  • DisLedger

    Distributed ledger

    Crowdsale Ended
  • SynchroLife

    Decentralized Restaurant Recommendation Platform

    Crowdsale Ended
  • Proof

    Easily create your own blockchain-based tokens, trade them, or buy from others

    Crowdsale Ended
  • Opus

    Crowdsale Ended
  • EOS

    Undisclosed
  • Stox

    Undisclosed
  • Propy

    Global property Store with Decentralized Title Registry

    Crowdsale Ended
  • SunContract

    Undisclosed
  • investFeed

    Undisclosed
  • Kik

    Undisclosed
  • MyBit

    MyBit is a decentralised asset management platform which leverages blockchain technology to record the ownership, registration, and transfer of assets.

    Crowdsale Ended
  • Presearch

    Decentralized search engine

    Crowdsale Ended
  • Encrypgen

    Undisclosed
  • InsureX

    Undisclosed