After the project announced DeFi staking, CEX listings, and upcoming S-NFT
sales, the OPUL price increased 175 percent from its low.
Non-profile picture (PFP) NFTs had been cooling off in recent months, but now that Bitcoin and Ethereum have re-entered the bull market, altcoins and NFT-focused tokens are following.
Music NFTs are one sector of the ecosystem that is showing signs of life this week, with the Opulous (OPUL) protocol emerging as the day’s breakout star. Opulous’ mission is to bring aspects of decentralised finance (DeFi) to the music industry while also changing how artists access funding.
The S-NFT sale took place on March 31 and took less than 45 minutes to sell out and reach its goal of $50,000, according to WeFunder data, with the sale being oversubscribed and raising $66,900.
Since the sale, the Opulous team has revealed that the project’s next major announcement will be made this week, and will involve an S-NFT sale for an entire music album.
Plans to list OPUL on several DeFi protocols in the Algorand (ALGO) ecosystem are also helping to drive up the price of Opulous.
Pact, an Algorand-based automated market maker, has already established two liquidity pools for OPUL that are paired with ALGO and USD Coin (USDC), and it recently announced a campaign with the Algorand Foundation to distribute 1 million ALGO tokens to its supported pools between April 8 and June 2.
Opulous also revealed that new staking pools will be added to the Algorand DeFi hub, AlgoFi, on April 5.
OPUL has also recently been added to a number of centralized exchanges, including HotBit and LAToken.
Following the March 30 announcement of LAToken’s listing, the project teased that another exchange listing would be “coming next week,” indicating the possibility of further price appreciation.