FanTiger: NFT music platform FanTiger raises $5.5 million

New Delhi: ArtistFirst Technology, which runs music NFT (non-fungible token) marketplace FanTiger, on Wednesday raised $5.5 million in a seed round led by Multicoin Capital. The round saw participation from Crafton, Pravega Ventures, Gamma, Woodstock Fund, IOsG Ventures, Polygon Studios and individuals Sandeep Nelwal (Co-Founder of Polygon), Gokul Rajaram (Board Member – Coinbase), Prashant Malik (Founder – Tykhe Block Ventures) Viewed. ) and Miten Sampath (CRED), according to a release.

FanTiger is a music NFT marketplace that provides a platform to create, buy and sell digital collectibles.

Founded by Krishna Singh, former CEO of Gaana and co-founder of PropTiger, FanTiger enables independent artists to build fan communities on the platform and helps fans shape their careers using Music NFTs. Fans can purchase Music NFTs to gain access to an exclusive artist community, earn rewards and privileges such as behind-the-scenes content, backstage access, and more. Artists can use the proceeds from the sale of Music NFTs for song production, studio production, music videos and more. And fans can commit to marketing the song to the community, up to a certain percentage of the royalties earned from the song.

Prashan Agarwal, CEO and Co-Founder, FanTiger, said, “Music NFTs have the potential to disrupt the music industry, just as music streaming transformed music listening. Our vision is to add 10 million users to our platform to own digital collectibles.

“The company plans to use the funds raised to develop its team in product, technology, increase industry participation and connect well-known and aspiring Indian artists,” Agarwal said.

“Music is one of the most exciting use cases for NFTs with very high usability,” said Sandeep Nelwal, co-founder of Polygon and Polygon Studios.

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Originally published at Pen 18