November 16th, 2021 - In the most recent crypto news, market maker Jump Trading has invested into Blockchain-powered financial platform, Opulous. Its affiliated firm Jump Capital was recently highlighted by Forbes for raising $350M and doubling down on Crypto, noting that they are dedicating 40% of its seventh and latest fund to that market. According to that same Forbes article, Jump Capital currently has four unicorns and four exits in the crypto space under their belt, working alongside huge crypto projects such as Solana, Luna and Chilliz.
Just last month, the music/cryptocurrency start-up, Opulous, announced their partnership with crowdfunding platform, Republic, which allows fans to invest in artists’ music through Security-NFTs (S-NFTs). As reported by Music Business Worldwide, through this partnership, Opulous began the offering of S-NFTs, a term coined by Republic to describe a non-fungible digital asset, offered and sold as a “security” (as defined by the Securities Act of 1933 and the Exchange Act of 1934), which enabled users to invest directly into artists’ music for as little as $100.
“Jump has a solid reputation as backing some of the biggest projects in the market, so I'm pleased that they share our vision and I’m excited for us to be working together,” shares Lee Parsons, founder of Opulous.
On November 4th, the first release from Opulous x Republic went live, an opportunity for fans to get a piece of Lil Pump’s upcoming single “Mona Lisa” featuring Soulja Boy. The shares went live that morning and after 2 hours, the song reached its maximum funding goal of $500,000 to 927 investors.
Opulous, founded by Lee Parsons of Ditto Music, previously closed a $6.5M fundraising round in June 2021 and recently announced partnerships with LINE and Binance.
