Opulous just took a big step re: regulating NFTs. Covered: Opulous Partners With Securitize Future Of NFT Regulation Opulous Partners With Securitize Music NFT focused Algorand Dapp Opulous announced a partnership with Securitize, an SEC-regulated platform for issuing and trading security offerings. Opulous’ core business surrounds copywritten music NFTs that leverage DeFi to foster revenue […] The post Algorand Dapp Partners With SEC Regulated Company appeared first on CryptosRus.

Algorand Dapp Partners With SEC Regulated Company

Opulous just took a big step re: regulating NFTs.

Covered:

  • Opulous Partners With Securitize
  • Future Of NFT Regulation

Opulous Partners With Securitize

Music NFT focused Algorand Dapp Opulous announced a partnership with Securitize, an SEC-regulated platform for issuing and trading security offerings. Opulous’ core business surrounds copywritten music NFTs that leverage DeFi to foster revenue growth for artists.

The partnership gives Opulous’ S-NFT owners regulatory-friendly revenue sharing of their NFTs. S-NFTs are like ordinary non-fungible tokens, except the “S” part stands for security compliant. NFTs like Bored Ape Yacht Club aren’t eligible — at least in a regulatory compliant way — for revenue sharing from DeFi like Products.

“With investors able to purchase fractional ownership through a website and have their interest permanently and transparently recorded on a blockchain, investors can access opportunities that were typically out of reach,” said Jamie Finn, president of Securitize.

Back in 2019, Securitize became the first SEC Registered Transfer Agent operating on the blockchain. 

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Future Of NFT Regulation

Although revenue sharing of NFTs isn’t technically legal, it doesn’t mean that it doesn’t already occur. The bigger projects have yet to dip their toes, but there is certainly interest in fractionalizing NFTs like Bored Apes. But it certainly sounds risky — especially if you take crypto mom’s word for it.

“If you take something and you slice it up, and you sell slices of that thing whether it’s NFT or something else, then that could very much start to look like a security,” Hester Pierce told Coindesk back in October of 2021.

Not to mention, Gary Gensler has an interest in going after NFTs. Though, in this case, it’s the money-raising aspect — which reminds him of traditional securities — that vexes the SEC commish. All told, NFTs are in a tough spot.

However, Opulous’ positioning itself as a regulator-friendly NFT project points to a way for NFTs to navigate the shark-infested waters of SEC regulation.

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