Ditto Music is joining LINE Tech Plus in an exciting collaborative partnership aimed at developing more innovative projects in the NFT space.
The strategic move could see an integration between Ditto Music’s cutting-edge Opulous platform – which enables musicians to fan-finance their work through NFTs – and LINE’s solid NFT market.
The partnership would aim to offer a more diverse range of NFT asset choices as NFT markets explode into a whopping $43bn industry. Additionally the experienced developer cadre at LINE Tech will provide blockchain assistance to the growing Opulous platform.
Opulous was developed on Algorand in an effort to bridge the world of decentralised finance with the music industry – with the key focus being the development of a platform that empowers fans to support and invest in the work and projects of the musicians they love. Lil Pump is a prominent artist actively using the platform.
Opulous CEO Lee Parsons discusses partnership
In a past interview with Opulous Founder Lee Parsons, he explained the guiding philosophy of the push towards decentralised fan financing for musicians and the emergence of NFTs as a tool for creative empowerment.
“One of the only things that major labels can offer musicians any more is money,” commented the CEO.
“The problem we have in the music industry is that musicians sell their music to a record label and it is then owned by one or two people who have complete control over that person’s career.
“Selling it directly to your fans – the people who truly care about your art – is true decentralisation.”
And speaking to Coin Rivet about the new partnership this week, he added: “Being the first mover in the Music NFT space, it is important to us to work with high caliber partners.”
By providing an NFT launchpad for the first music copyright-backed NFTs, as well as DeFi loans that change the landscape of artists access to funding – Opulous Music NFTs are creating a wealth of creative opportunity.
Especially by offering buyers a share of a song’s future royalty earnings and exclusive rewards in exchange for social media support – fans can finally be rewarded for backing small artists – instead of being treated as industry cash cows.
Woosuk Kim, the intrepid CEO of blockchain partner and NFT market operator LINE Tech Plus also applauded the partnership.
“We look forward to providing interesting NFT products to music lovers everywhere, utilising our blockchain technology along with Ditto Music’s NFT services,” commented the CEO.
The LINE-Ditto Music partnership comes as a part of LINE’s plans to continue growing its token economy and expand into NFT markets.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.