Fernando Cruz: Last News

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.

DIY distributor Ditto Music and its co-founder Lee Parsons have called for a lawsuit filed against them in the Californian courts by Lil Yachty to be dismissed on jurisdiction grounds. The litigation relates to the promotion of Opulous, the music NFT start-up also founded by Parsons.The rapper – real name Miles McCollum – went legal in January claiming that Opulous had used his name and brand as part of launch communications, even though he had never agreed to get involved in the new venture.

The rapper Lil Yachty has sued Opulous – the music NFTs start-up launched by the founders of Ditto Music – accusing it of using his name and brand as part of launch communications, even though he had not agreed to get involved in the venture.In a lawsuit filed last week, the rapper – real name Miles McCollum – claims that while he and his management team had meetings with Opulous founder Lee Parsons and its Chief Marketing Officer Fernando Cruz in May last year, they never signed up to work with or endorse the NFT start-up.Opulous is a platform that encourages fans and investors to buy non-fungible tokens linked to new music being created by participating artists. Those NFTs provide fans and investors with a royalty right, so that they share in any future income generated by a track.