Music Copyright NFT platform partners with LINE messaging app
The partnership will develop NFT products and expand into Asian markets
Opulous, the first platform to launch music copyright non-fungible tokens (NFTs), has announced a partnership with LINE Corporation subsidiary LINE Tech Plus to develop NFT products and expand its reach into Asian markets. The partnership’s first projects are expected to be released next year.
Opulous said the partnership with LINE will focus on developing NFT products, including the possibility of integrating its music NFTs into LINE’s NFT market. In addition, LINE Tech Plus will support Opulous in developing blockchain services based on the LINE Blockchain Developers platform.
“We look forward to providing interesting NFT products to music lovers everywhere, utilising our blockchain technology along with Opulous’ Music NFT services,” said Woosuk Kim, CEO of LINE Tech Plus.
First Opulous NFT drop
Opulous enables fans to invest in works from their favourite music artists. Opulous tokens provide buyers with a share in selected artists’ copyright in the form of music copyright NFTs and DeFi loans for musicians. Its first Music NFT drop is scheduled for Friday 29 October.
The upcoming NFT sale, which will take place on the Republic platform, covers the new track Mona Lisa from streaming giants Lil Pump & Soulja Boy. The NFT will allow buyers to invest in the music and earn royalties, plus gain entry into a prize draw for the chance of an all-expenses trip to Miami to meet with Lil Pump.
About Line Corporation
Tokyo-based LINE Corporation released its messenger app LINE in June 2011, becoming Japan’s largest social media network two years later. It’s currently the most popular messaging app in Japan, Thailand and Taiwan with over 68% of the Japanese population – around 86 million people – estimated to be using the app in 2020.
Much like China’s WeChat, the LINE platform has expanded from a simple chat app into a hub for entertainment, social, banking, news and music streaming. In August 2020, LINE BITMAX Wallet launched an NFT market in Japan, where users can manage and trade digital assets and NFT products.
In March 2021, LINE completed its business integration with the Z Holdings Group. This is a joint venture between SoftBank and Naver Corporation to become one of the largest internet service groups in Japan.