FanTiger, a New Delhi, India-based provider of a music NFT marketplace, raised $5.5M in funding.
Multicoin Capital was the leader of the round. Participants included Krafton, Pravega and GAMA as well Woodstock, IOSG and Polygon Studios. Sandeep Nailwal (Gokul Rajaram), Prashant Malik, Miten Sampat were also part of this round.
The funds will be used by the company to expand and accelerate its growth.
FanTiger, led by Prashan and Krishna Singh, provides independent artists with a platform that allows them to develop their careers using music NFTs, as well as build fan communities. To gain special privileges such as backstage access, meet-n–greets, exclusive content and more, fans can purchase music NFTs. Artists have the option to use the music NFTs to create, record, or edit songs. They can also commit a portion of the royalties from the song to their fan community to market the song.
Ahead of the official launch, the company has opened an Early Access program for music fans on www.fantiger.com. It gives the most eager music fans a chance for exclusive benefits, such as priority access NFTs to music, OG titles, limited-edition merchandise, etc. and a staggering 5,000 free NFTs.
Prashan, an alumnus of IIT Kanpur and ISB Hyderabad, was most recently the CEO of Gaana, India’s largest music streaming service. Krishna Singh is a Computer Science Engineer, IIT Kanpur. He has over 17 years of experience leading technology in various organizations.