Ex-Gaana CEO's NFT Platform FanTiger Raises $5.5 Million ArtistFirst Technology Inc, the company which is behind music NFT marketplace FanTiger, announced that it has raised $5.5 million in a seed round led by Multicoin Capital.
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ArtistFirst Technology Inc, the company which is behind music NFT marketplace FanTiger, announced that it has raised $5.5 million in a seed round led by Multicoin Capital. Other participants included IOSG Ventures, Polygon Studios, Krafton, Pravega Ventures, GAMA, Woodstock Fund, and individuals Gokul Rajaram, Prashant Malik, Sandeep Nailwal and Miten Sampat.
The funds shall be utilised to expand the team across verticals such as Tech and Product, along with partnerships and getting major artists onboard.
FanTiger has been co-founded by Prashan Agarwal, ex-CEO of Gaana and Krishna Singh, a Computer Science Engineer from IIT Kanpur.
Agarwal 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 structure, much like music streaming transformed music listening. FanTiger helps create Artist-Fan relationships as has never existed before, this will give birth to a new era for Music. Our vision is to onboard 10 million users to our platform to own digital collectibles and supercharge the career of 100k artists".
FanTiger has fan communities on their platform and these fans can purchase music NFTs which allow them to become part of a select community along with the artist and they also receive privileges and awards. These privileges include getting access to exclusive behind the scenes content, meeting the artists, interacting with them and backstage passes.
"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," added Kyle Samani from Multicoin.
"Music is one of the most exciting use cases for NFTs. Prashan's exceptional track record 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, Co-Founder of Polygon.