Opulous says Lil Yachty lawsuit is “meritless”

completemusicupdate.com:

Music NFTs start-up Opulous has responded to a lawsuit filed by Lil Yachty, insisting that the claims in that legal filing are “meritless” and that the company will defend itself “vigorously”.Opulous is a music-centric fin-tech and NFTs platform launched by the founders of Ditto Music.

Specifically in the NFTs space, it has launched a fan-funding product that allows investors and fans to pledge money to an artist linked to an upcoming track and to then share in any royalties said track subsequently generates.

That royalty right is logged on the blockchain as an NFT and then administered by Ditto, which distributes the music.The service properly launched last year with an NFT drop involving Lil Pump and Soulja Boy.

However, prior to that in pre-launch communications the start-up identified Lil Yachty as an artist set to be involved in the venture.In his lawsuit, the rapper claimed that he had not, in fact, agreed to work with Opulous.