NFT music platform FanTiger raises $5.5 million

New Delhi: ArtistFirst Know-how, which runs music NFT (Non Fungible Token) market FanTiger, on Wednesday raised $5.5 million in a seed spherical led by Multicoin Capital. The spherical additionally noticed participation from Krafton, Pravega Ventures, GAMA, Woodstock Fund, IOSG Ventures, Polygon Studios and people Sandeep Nailwal (co-founder of Polygon), Gokul Rajaram (board member – Coinbase), Prashant Malik (founder – Tykhe Block Ventures) and Miten Sampat (CRED), based on a launch.

FanTiger is a music NFT market offering a platform for creating, shopping for and promoting digital collectibles.

Based by Prashan Agarwal, ex-CEO of Gaana and co-founder of PropTiger, and Krishna Singh, FanTiger empowers Unbiased Artists to construct fan communities on the platform and allow followers to assist form their profession utilizing music NFTs. Followers should buy music NFTs to get entry to an unique artist group, earn rewards and privileges like behind the scenes content material, backstage entry and so on. Artists can use the proceeds from the sale of music NFTs for music creation, studio manufacturing, music video, and so on and likewise can commit as much as a sure proportion of the royalty earned from the music to the fan group for advertising and marketing the music.

Prashan Agarwal, CEO and co-founder, FanTiger, mentioned, “music NFTs have the power to disrupt the music trade, very like music streaming remodeled music listening. Our imaginative and prescient is to onboard 10 million customers to our platform to personal digital collectibles.”

“The corporate plans to make use of the funds raised to develop its workforce throughout product, tech, prolong trade partnerships and onboard well-known and aspiring Indian artists”, Agarwal added.

“Music is among the most fun use circumstances for NFTs with a really excessive utility,” mentioned Sandeep Nailwal, co-founder of Polygon and Polygon Studios.

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