Christmas Magic From Djooky: Introducing DjookyX Marketplace, A Unique Mix of The Best Undiscovered Music And Untapped Financial Opportunities!

At Djooky, we’re constantly striving to support independent artists and music lovers with unique experiences. Today, we are proud to announce the launch of DjookyX, our own marketplace to invest in your favorite songs’ royalty rights. Owing to the growing interest in music as an asset class, this innovative platform is aimed to offer means for music creators and rights-holders to finance their projects, while giving the fans the ability to purchase rights in tracks of their choice and benefit from future royalties the song may generate. According to the co-founder and CEO of Djooky, Andrew Dakhovskyy: "With Djooky, we aim to democratize the music industry by creating a global, equitable and efficient marketplace and discovery platform. We have worked hard in the past months to make this a transparent and scalable platform, with a strong legal and compliance framework." 

Brian Malouf, the legendary multi-platinum producer and the founder of DjookyX stated "Our vision is to ensure that all artists can enjoy equal access to the best support available to create and promote their music.”

A primary marketplace allows music creators and record labels to auction royalty rights in music compositions. Creators will auction claims for payment arising from the use of their music, and maintain ownership of their copyrights.

Fans who would like to invest are able to see a breakdown of how artists intend to use the funds generated, covering activities such as recording sessions, marketing campaigns, production of music videos, and private use.

The bidding follows a Dutch auction process, with the final price paid by successful bidders based on the lowest price offered across all winning bids. Once purchased, the portfolio of the rights is clearly displayed in an online wallet for each user.

All transactions are proceeded through the escrow account by the licenses payment solution provider Mangopay in order to ensure that users’ funds are protected. It also opens up DjookyX to investors across much of the world.

With a global approach to its model, DjookyX will launch with inaugural artists including Dominik Jesz from Germany, Yuni Marimba from South Korea, Blad P2A from the Solomon Islands and Loulia Esteves from France. Later in the week, they will be joined by Kler from Ukraine, the GrandMa from Russia, Tam Ben from Nigeria, and Djooky Music Awards’ first winner Gina Brooklyn from the USA.

With DjookyX, we look forward to boosting the music careers of the independent artists and provide them the opportunity to see their work of art as a valuable asset. We aim to provide access to experts while matching music lovers and artists through a transparent and liquid marketplace that supports investment in songs. The ever-growing community of music lovers get the opportunity to support their favorite music artist by investing in the royalty rights and receive the financial rewards the song is generating. According to Stefan Eghbalian, Djooky co-founder and Head of Corporate Strategy, “By fostering a more diverse and inclusive community within the music industry, the DjookyX marketplace facilitates an interactive space where music lovers can be directly involved in creating the next big hit.”

We are extremely happy that you, as a part of the big Djooky Family, are starting a new chapter in music history alongside us and stay tuned to experience all the benefits of the new platform!