ArtistFirst Technology Inc, which runs music NFT marketplace FanTiger has raised $5.5 million in a seed round led by Multicoin Capital.
The round also saw participation from Krafton, Pravega Ventures, GAMA, Woodstock Fund, IOSG Ventures, Polygon Studios; along with individuals Sandeep Nailwal (Co-founder of Polygon), Gokul Rajaram (Board Member – Coinbase), Prashant Malik (Founder – Tykhe Block Ventures) and Miten Sampat (CRED).
Funds raised will go towards growing FanTiger’s teams across product, tech, extended industry partnerships as well as onboarding well-known and aspiring Indian artists.
Founded by Prashan Agarwal, ex-CEO of Gaana and co-founder of PropTiger, and Krishna Singh, FanTiger empowers independent artists to build communities on the platform and enable fans to help shape their career using music NFTs. With the NFTS, fans can access exclusive artist communities, earn rewards and get special privileges like exclusive behind-the-scenes content, meet-n-greet opportunities, backstage access, etc.
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 of music. It will be the first time in history when Indian artists will have a fanbase which is properly incentivised to market a song, which will create wonders in setting new milestones for song success. Our vision is to onboard 10 million users to our platform to own digital collectibles and supercharge the career of 100k artists.”
Kyle Samani, Partner, Multicoin, added, “The FanTiger platform is uniquely positioned to grow the digital collectibles ownership in the music industry. We are excited to partner with Prashan, who brings vast experience of building the largest music streaming platform in India, to disrupt the music industry once again.”
“Music is one of the most exciting use cases for NFTs with a very high utility. Prashan’s experience as a repeat founder and music industry executive makes him the ideal person to transform the music industry in a way that empowers artists and their fans,” said Sandeep Nailwal, Cofounder of Polygon and Polygon Studios.
Ahead of FanTiger’s official launch, the company has launched an Early Access program which will offer users exclusive benefits like priority access to the launch of music new NFTs, limited-edition merchandise, music concerts and more. Plus, the biggest lure to get on the waitlist is the chance to get 5,000 free NFTs.
Visit FanTiger for more details