NFT Music Platform FanTiger has raised $5.5 million in a seed round of funding to empower Independent Artists. This funding round was led by Multicoin Capital and also saw participation from Krafton, Pravega Ventures, GAMA, Woodstock Fund, IOSG Ventures, and Polygon Studios. Several individuals including Sandeep Nailwal, Gokul Rajaram, Prashant Malik, and Miten Sampat also participated in this round..
FanTiger lets music artists create and sell music NFTs. The company will use the funds to grow its team and extend industry partnerships.
Artists can earn by selling music NFTs and use the money to create new songs, music videos, and also commit upto a certain percentage of the royalty to the fan community. Fans can buy songs NFTs offered by artists to get exclusive community access, earn rewards, meet-n-greet opportunities, and special privileges. The company aims to onboard around 100K artists and 10 million users on its platform.
FanTiger was founded by Prashan Agrawal and Krishna Singh. Prashan Agrawal is an IIT Kanpur alumnus and was most recently the CEO of Gaana.com. He also co-founded PropTiger.com which was acquired by Singapore-based Elara Technologies.
Prashan Agarwal, CEO and Cofounder of FanTiger, said, “The business of music should be to serve the best interests of Artists. With the advent of blockchain, music NFTs have the ability to disrupt the music industry, much like music streaming transformed music listening. FanTiger is at the forefront of this revolution to redefine the music industry by creating Artist-Fan relationships as has never existed before to give birth to a new era for Music.“
