FanTiger, an NFT music marketplace, has raised $5.5 million in its pursuit of revolutionizing the music industry.
ArtistFirst Technology obtained $5.5 million to further develop its innovative NFT music platform. FanTiger This initial funding round was led by Multicoin Capital, a notable player in blockchain investment. FanTiger enables music enthusiasts to trade, purchase, and create digital collectibles, aiming to empower independent artists by fostering a deeper connection with their audiences through the medium of music NFTs.
The list of investors includes names like Krafton, Pravega Ventures, GAMA, Woodstock Fund, IOSG, and Polygon Studios, along with prominent figures such as Sandeep Nailwal, a co-founder of Polygon, and Gokul Rajaram, a board member at Coinbase.
Fans will gain special access to unique content from their favorite artists through the NFTs available on FanTiger. Meanwhile, artists can reinvest the proceeds from these NFT transactions into their creative processes, thus fostering a supportive ecosystem where both parties thrive collectively.
"The music industry should fundamentally prioritize the needs of the artists. With blockchain technology paving the way for music NFTs, we have the potential to transform the industry in a manner reminiscent of how music streaming changed the way we consume music,\" says a representative. said Prashan Agarwal, CEO of FanTiger
Currently, FanTiger is in its beta phase but has launched a waitlist for 'Early Access' that includes a giveaway of 5,000 NFTs. The company envisions attracting 10 million users while helping elevate the careers of over 100,000 artists.
Recently, John Legend introduced his own Web3 music platform called Our Song. raised $7.5 million in a seed round. The NFT marketplace is poised to uplift music artists and various creators, fostering a direct connection between them and their fanbase.
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