Djooky, the music discovery platform, and NEAR, the blockchain protocol, have teamed up to bring on-chain voting mechanisms powered by NEAR to the ongoing Djooky Music Awards (DMA) for undiscovered artists. This collaboration will enable artists to compete for recognition and funding, while voters can participate in competitions for cash prizes.
Voting with NEAR for DMA finals
With NEAR powering the voting mechanisms for the DMA finals, users will need a Near wallet to claim their rewards, which will be distributed in the form of Near tokens. Users can also use the same wallet to receive token rewards if their chosen song wins in the weekly HitHunter competition.
How the DMAs empower both artists and fans
The DMA was introduced in 2020 by Djooky co-founders Andrey Dakhovskyy and Brian Malouf to help undiscovered musicians gain visibility and help fans discover new artists. The competition runs year-round, resetting every quarter with new awards and prizes. It is a tournament-style competition, with artists competing in brackets at the national, continental, and global levels.
If a contestant makes it to the finals, their music will be featured on an 18-song NFT album, with sales being divided equally among the lowest 15 projects. The top three songs will have their NFT auctions with bonus artwork created by a digital artist. Djooky also provides a platform to help artists reach a global audience, even if their song doesn’t end up topping the charts.
Weekly HitHunter competitions
Djooky runs weekly HitHunter competitions where users compete to identify the next likely hit song by assigning HitPoints to songs they like. Users receive 100 Hitpoints every Monday, which they can then spend on the tracks they believe will be the biggest hits. HitHunters are ranked according to how early they allocate their HPs to tracks that become hits in the Djooky charts when compared to other HitHunters.
Depending on the progress of the songs chosen, users receive winning points calculated by the platform’s algorithm. The top five users of the special user charts will be rewarded with cash prizes for backing the right tunes.
NEAR x DMAs fueling a new future for musicians
The Djooky team and NEAR Foundation previously collaborated to develop DjookyX, their music marketplace that’s presently transitioning from Web2 to Web3. The DMAs and DjookyX demonstrate new economic models for fans and musicians in Web3, all made possible by the technology and governance mechanisms of the NEAR blockchain.
As the DMAs and DjookyX marketplace grow, opportunities for musicians to earn more for their creative energy and for fans to support undiscovered musicians they love will also grow.