Q&A Session 1
Since our latest update, we have encouraged our community to provide us with feedback, suggestions, and questions about Opus. We have compiled a list of these to answer. We would like to post a series of these Q&A sessions in the future because transparency is instrumental in making Opus a success for everyone, and we hope to receive many more questions on our Discord and Telegram that we can address in these updates. Here are some of the most pressing issues:
1. How will a customer buy songs and how will the artist get paid? What exactly are the things musicians will get in trade for their music? Will it be a fixed rate?
The customers will buy music with the Opus token which the artists will then receive in return for their music and this will most certainly not be a fixed rate dependent on, for instance, the dollar; instead it will depend on the market at any given time.
2. If you want this project to grow, you should try to recruit more famous and established artists.
This is a very good suggestion and recruiting famous artists is something we will be doing closer to the release date of the Opus platform. Our team has started researching this issue and looking for artists who have publicly stated support for the blockchain, though contacting them at present would be somewhat too early, considering that the development has only just picked up speed.
3. Are you building an interface to take fiat payments directly and convert those to Opus tokens for the purchase of music?
For the time directly after launching the platform, customers will need to possess Opus tokens to purchase music; however, we are planning to build a tool making the payments in fiat easier in the long-term perspective of the development.
4. Will there be a live Q&A with the CEO? This way we will be able to ask the CEO questions in real time and address important and constructive issues.
This is an excellent suggestion as transparency is very important to us at Opus. We do intend to host a live Q&A session with CEO in the next year to answer all the questions from the community and to hold a discussion with constructive outcomes. We will release an update about this as soon as we set a date for the session.
5. Are you targeting artists with existing (currently exclusive) agreements? We’ve only seen unsigned artists so far.
Currently, we are focusing primarily on unsigned and somewhat lesser known artists, thus following a path similar to that of Soundcloud for the first few months. However, we welcome all artists who would be interested in joining us at Opus and encourage musicians, both signed and unsigned, to fill in this form or to email us at info@opus-foundation.org to begin our collaboration. As was stated in another question, we do plan on contacting more established artists closer to the launch date.
6. Do you have a rights management expert on the team or plans to work with one in 2018?
This is a very complicated subject and we certainly plan on working closely with an expert in this field in 2018 to ensure that everything goes smoothly in that regard.
7. What upcoming events/tradeshows/conferences/meetups will you be attending?
We are looking at attending a variety of events in 2018 in both New York and London, including the 2018 Blockchain Summit, London Blockchain Week 2018, Consensus 2018, and the Technova Blockchain Summit 2018. Of course, we will be looking for lots more events related to the blockchain and we will be updating you when we make plans to attend any more conferences.
8. Do you have an initial geographic focus for new artists?
At present, we would like to focus on artists from the US, and then later also on artists from China, though we are not excluding European artists and we welcome musicians from all over the globe.
More updates coming soon…
We are aiming to release an update over the weekend regarding our plans for the next few months. We also plan to announce more artists next week and answer more questions in the coming days. If there is anything you would like us to address in these updates, please feel free to message us on Discord, Telegram, Facebook, or via email at info@opus-foundation.org.