Business

Independent music artists bet big on Music NFTs from FanTiger

November 9, 2022 dsprime

New Delhi (India), November 9: FanTiger, India’s first Music NFT marketplace is offering a unique opportunity to independent artists to co-create music with their fans offering them an exceptional experience. Besides helping artists garner more fans its also enabling them to create more music without worrying about resources.

Since its launch in July 2022, six independent artists have launched their music NFTs and have received an overwhelming response from their fans. Most of the NFTs have been sold out and there has been a long queue of fans waiting for more NFTs. These artists include Sunanda Sharma (9-9 Mashukaan), Naalayak (Nusrat), Saaj Bhatt (Pakki Wali Dosti, Sataya Na Karo), Shruti Pathak (Haaniya), Karan Sehmbi (Meri Jaan) and Harvi (Kaale Ghode).

Fans and investors get to earn royalty and enjoy money-can’t-buy privileges as they purchase the recently launched music NFT for an investment that is as low as Rs 99. Money can’t buy privileges include like, interaction with artist, access to NFT holders channel, online listening party and more. These music NFTs are based on dynamic pricing – an innovative feature introduced by FanTiger. Fans and Investors can see the price of NFT moving upwards as more people invest in NFTs.

FanTiger distributes this song across streaming platforms such as YouTube, Spotify, Gaana and Saavn where the song earns money for every stream. If the song is a hit and has earned a significant amount of royalty, the owner of the NFT earns as per his/her share of the royalty.

Prashan Agarwal, Chief Executive Officer & Co-Founder, FanTiger said, “So far we have launched seven Music NFTs on our platform and have sold more than 5,000 NFTs. Paying with INR or USD is also a game-changer as it helps us onboard users who are not familiar with the technicalities of Web 3.0 wallet. In such a case, we take custody of the asset on behalf of the customer through a digital wallet created on our platform itself. Customers can anytime redeem the NFT for cash.”

“As we continue to add singers from different music genres, we are getting a step closer to helping artists and their music grow. We are proud to pave the way for artists to engage with their fans through digital collectibles (NFTs) in a more meaningful way than one”, added Prashan.

The concept of Music NFTs enable fans & investors to purchase partial ownership of the song, share royalty income, access to exclusive community, limited edition signed merchandise, along with an opportunity to personally interact with the artist and much more.

FanTiger recently received a $5.5 million seed round led by Multicoin Capital. The company plans to use the funds raised to grow its team across Product, Tech, extend industry partnerships and onboard more well-known and aspiring Indian Artists.

FanTiger’s vision is to onboard 10 million fans into the community and spread education and awareness around digital collectibles. It will also roll out initiatives aimed at supercharging the careers of over 100,000 artists using NFTs.

FanTiger.com is a music NFT marketplace working to create a decentralized community for artists and their fans by providing a platform for creating, buying, and selling digital collectibles. FanTiger has raised $5.5 million in a seed round led by Multicoin Capital. Founded by Prashan Agarwal, ex-CEO of Gaana and co-founder of PropTiger, and Krishna Singh, FanTiger empowers Independent Artists to build fan communities on the platform and enable fans to help shape their career using music NFTs.

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