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We had this great question on Quora we'd like to share: Would there be any problem by listing a digital/NFT on behalf of the actual creator (e.g. creator not into technology so he/she asking me a favor to list on behalf of him/her)?Anyone could do it, for sure, since creating NFTs are available to anyone on permissionless blockchain networks. In fact, many creators already engage the services of blockchain professionals — and you could even ask us to help you with creating an NFT on the blockchain if you don’t want to get involved in the technical aspects. Artists create. NFTs are just a method of wrapping them up to be easily verified, sold, transferred. But how do we verify that there is actual permission from the creator/owner of the NFT? Is there an easy way how to determine that it did really come from the original creator? Nowadays, imitations of something is common. So how do we know that he is the original creator of that item? And that he is giving the platform the privilege to sell his artworks? It is quite difficult that once you purchased, you found another similar item from a different creator. That will give less value to what you just purchased. And you are just screwed of this NFT hype. Ditto Music has been working with music copyright and ownership issues for over 15 years and has the existing infrastructure necessary to combat copyright infringement. We have audio fingerprinting technology as well as a dedicated team who individually check every release to guarantee that any NFTs sold are always the originals and copyright issues are dealt with before they become a problem for our users. |
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We had this great question on Quora we'd like to share: Would there be any problem by listing a digital/NFT on behalf of the actual creator (e.g. creator not into technology so he/she asking me a favor to list on behalf of him/her)?Anyone could do it, for sure, since creating NFTs are available to anyone on permissionless blockchain networks. In fact, many creators already engage the services of blockchain professionals — and you could even ask us to help you with creating an NFT on the blockchain if you don’t want to get involved in the technical aspects. Artists create. NFTs are just a method of wrapping them up to be easily verified, sold, transferred. |
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 Don't miss the Official #Opulous AMA on our Telegram tomorrow at 7pm UTC 🙌 Go join the Opulous group here 👉 @opulousapp Our founder @Lee_OPU be on-hand to answer as many questions as he can. We'll see you there! #OpulousCommunity $OPUL Retweet, Comment and Like 👇 https://twitter.com/opulousapp/status/1407353061568389121?s=19 |
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Delighted to welcome @XcademyOfficial CEO Oliver Bell on-board as an #Opulous advisor.
We've also received strategic investment from XCAD Network & we're looking forward to working closely with them.
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We got some love from AltcoinReview, talking about us and our upcoming partnership with Binance!
Don't forget our tokens are only on sale at MakerDAO. Don't get them anywhere else, those are fake;)
Check out the Full Video:https://youtu.be/eZ2YO2cP5vE
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Pre-sale registration opens today! 🚀 http://daomaker.com/company/opulousPSA: $OPUL family. Our token has not been released. The only place you can get tokens is through TheDaoMaker, anything else is a scam. Please do not buy any tokens on Uniswap they are fake! |
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We are having an AMA session today hosted by DAO Maker, at 2 pm UTC (that's 8 hours from this post). It's on Telegram so check us out at https://t.me/daomakerOpulous is a project by Ditto Music, one of the largest music distributors in the world, including for stars like Ed Sheeran, Chance the Rapper, and Sam Smith. Website: https://opulous.orgHope to see you guys there:) |
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It is nice that you are active in this thread and ready to answer any issues or query posted by the users here. With your different partnerships on board, I assume that reaching out those artists/singers and forging relationships would not be a problem. This will be a good way for them to earn income as well as reaching out their fans. Usually, the objectives are great but when it comes to implementation, that's where most projects fail. So hopefully, you can really materialize this platform and sustain its presence in the market.
Thank you! Of course, a lot of our focus right now is on developing our own product at Opulous, and business development. But we'll try our best to respond to community queries here and on other places. Have a look at our Quora, where we answer questions directed at us also on NFTs. |
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Why NFTs?
As a currency, tokens need to be fungible, that is, 1 token should always be exchangeable for 1 token, which makes fiat money and Bitcoin so successful.
But there is a reason to make non-fungible tokens, that are unique in properties and are not of equal value to each other.
**One major use is in the creative industry where NFTs **contain extra information stored in them, taking different formats. JPG or GIF, for example, to represent digital graphics or photos. MP3s to represemt songs, MPGs to represent video.
It proves the property detailed inside to be unique, and if stored in a wallet you own, also proves that you are the owner of that digital property.
This immediately solves two things: prevents forgery, and proves ownership indisputably.
Because they’re digital, they’re also easy to transfer without compromising security or safety.
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So theoriticaly, the idea you propose here, is that by claiming the NFT of a song, songwriters wouldn't have to be concerned about possible future dispute regarding their music because it is proven to be theirs, via blockchain, and they can still allow their songs and musics to be played elsewhere and gain the royalty?
Only if that NFT is used to contain the digital rights of that song, and it's a lot more complicated than that, but in theory yes, this is possible. Note, NFTs can also be giving you only the rights to play that song for restricted conditions. It may not completely solve legal disputes, but it's certainly one strong way to prove ownership and a programmable way to track royalty, if used as such. We may see more use cases in future, but that's precisely what we're trying to help build, but as with all tech, adoption must first happen;) |
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We're sharing one of our answers on Quora on a requested question: What's the best NFT marketplace for selling crypto art?=== It really depends on your art, I would say. Beeple is in the news as it’s made some high-profile sales recently, running into the millions of dollars, but it’s probably only good for you if you’re also a high-profile artist. OpenSea is what I’d call your best bet now for exposure and visibility for the average artist, it’s one of the largest ones out there and backed by Winklevoss (who did Facebook, so you can be sure they understand social networking). If you’ve got a really rare collectible, then SuperRare is where you want to put it up for auction, though — high-value pieces get good eyeballs there. You should definitely look at upcoming marketplaces too specific to the blockchain network of your NFT. AirNFTs for Binance Smart Chain, for example. MegaCryptoPolis is coming up for TRON too. |
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How does a music be copyright-backed with NFT? Like, how does it even worked? NFT roughly means we can only have if a kind of something, and it's indivisible, right? And a copyright forbid you to display something without the copyright-owner's consent. A copyrigh-backed NFT acts like... what? Someone buy a copyright to a music and no one are allowed to play or listen to it because it'll then lose its uniqueness?
It depends a lot on how you want to look at it. Admittedly, right now, most NFTs actually do nothing in this regard. All the NFTs you see in the news do now is give the owner ownership rights to a digital imprint. The NFT to Elon's Tweet, for example, merely points to the Tweet and proves that it was there. But if the Tweet is deleted or moved elsewhere by Twitter, then the NFT doesn't point to the new location. But if done right, NFT ownership can simple have finality on proof of ownership. You know how people dispute who owns creative rights to copies, etc? If you created a song, for example, you could timestamp it on the blockchain, and own that NFT registering that date of creation. Chronologically, no one can claim rights to it after you have. The only way to transfer those rights would be to transfer the NFT. |
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So the guys who made history in Ukraine by making the first ever blockchain-based real estate sale are now going to do something similar with NFTs. This time, and it'll all be legal, they'll be auctioning a real apartment as an NFT. Pretty nifty stuff, eh? |
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Okay, looks like you have your own views about it, like you can resolve that problem. I hope you can. Then I see something interesting, you guys really made it with Trustverse, https://twitter.com/TrustVerse/status/1390371223859695619You get a very good partner, it should make a lot of advice from them, at least. Thank you very much for your response and feedback. Certainly, in this industry, it's really important to partner up with the right people. We all have limited resources and it's only logical to leverage off each other's resources, experience and network. When the time comes, we'll certainly be firming up professional relationships that make sense to both parties! |
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Do you have private investors that are also backing this project in terms of financial aspect? Or individuals that are already from the music industry? Because it is hard to get in touch with artists if you don't know anyone from their industry. How can they trust the platform that you will treat them fairly?
We do, otherwise we wouldn't be able to develop at this initial stages and yes, we have team members of course with experience and knowledge in the industry. But we have to focus on building a good product that meets the needs of artists... and prove the value. We want people to trust the solution and the tech, which is more important than trusting the company:) |
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Is it legal for a US citizen to buy an NFT?
It absolutely can be, as long as they use a legitimate source and means as per the US state jurisdiction they are in. Just remember to look at what your tax obligations are for purchasing an NFT, also because it possibly involves purchasing the original rights of the digital property.
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Cool web wallet, definitely a use case for Bitcoin newcomers. Ever think of developing one for Ethereum so there's an easy way for people to manage their ERC271s aka NFTs?  |
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