OPUL/ALGO – Vestige

The Algorand Token OPUL Price Surges Over 400%

The Algorand NFT music platform known as Opulous have seen their accompanying token OPUL price increase over 400% in only the last couple weeks. 

OPUL had been on an downward trend since the last year, hovering at around 0.2 ALGO per OPUL for a longer time. This was until the middle of January, when the token started to quickly surge in value

Yesterday, on February the 4th, OPUL hit over 1.0 ALGO per OPUL, back on the same level as April of 2022. Currently OPUL is trading at around 0.9. 

HUGE market buys coming in right now! 😳$OPUL is on what’s called a parabolic run!

LFG @opulousapp 🚀🚀🚀🚀🚀 pic.twitter.com/6X5CZ5ZDaW

— MANDO CT (@XMaximist) February 4, 2023

Recent News Caused a Spike

Opulous is the only platform to mint Music Fungible Tokens (MFTs). MFTs gives users the possibility to invest in music by offering a share in the revenue from an artists work, be it a single, EP, or album. Opulous changes both how musicians access funding, and how they connect with their fans.

The CEO of Opulpus, Lee Parson, had reported that Opulous would unveil new artists on a weekly basis starting from February 1st. In addition, they would start offering early access to certain MFT drops through their staking pools ($OPUL ASA). 

Moreover, on 31st of January, Opulous announced their new chief financial officer, Nick Pelecanos. These news came as the company is aiming to hasten market growth in the year to come. 

Article Author: Martin
Follow on Twitter: AlgoDaddy