– We have seen a great demand from our users who want to be able to give away shares as a gift. It’s nice to see how the behavior in our app is not only about trying to make good investments for your own wallet, but also to give away to loved ones, says Olga Stern, CTO at Tangy Market.
To give music as a gift is nothing new. Don’t we all remember the feeling of unwrapping a flat and square package with the first CD or the exact song order on the mix tape you gave to your teenage love?
The format of the music gift has evolved over the years of digital development, but the value of gifting music is eternal. Now you can give a gift of music that can also grow in value, namely in the form of an investment portfolio.
– This is a personal gift that you can customize by putting together an investment portfolio of different songs or choose from a ready-made package with a selection of 114 Swedish classics, says Linda Portnoff, founder and CEO, Tangy Market.
Just in time for the holidays, Tangy Market is launching a new giveaway feature which means you can gift an investment in music to someone you like in the form of shares of music royalties. Music is a valuable asset, emotionally but also financially, and in 2021 music investors on Tangy Market earned an average return of 13%.
What is “Gift Shares”?
“Gift Shares” is a feature that makes it possible to gift a music investment portfolio to anyone you like (as long as they are at least 18 years old).
How do I gift shares?
Select ‘Gift Shares’ in the main menu and create your gift. You can only select shares that you already own. Review your gift and get your unique gift code. Share or download the digital gift card available in the app or create your own unique gift card. Note that the receiver needs to be at least 18 years old.
I lost my gift code, where can I find it?
You can always find your gift codes in the app in Gift Shares > Gifting History. Anyone who receives the code will be able to redeem your gift so make sure to keep it safe.
I want to cancel a gift, what do I do?
There is no way to cancel a gift, but you can redeem it yourself. Go to Gift Shares > Gifting History and copy the code for the gift you want to cancel. Go to Redeem Gift, paste the code and click Redeem.
How long is the gift code valid?
The code is valid for as long as the music asset shares included in the gift are available on the market.
I have redeemed a gift, where can I find my shares?
Redeemed shares are shown in your Portfolio together with shares that you have bought. You can see your redeemed shares in the Trades section of your Portfolio where redeemed shares are marked as “Received”. Gifted shares are marked as “Gifted”.