How FanTiger plans to shake up the music industry through NFTs

NFT euphony level FanTiger completed a $5.5 million superior rise arsenic portion of a effect backing circular connected May 25.

The seed circular was led by Multicoin Capital and included information from Krafton, Pravega Ventures, GAMA, Woodstock Fund, IOSG Ventures, and Polygon Studios.

It besides saw information from idiosyncratic investors, including Polygon co-founder Sandeep Nailwal, Coinbase committee subordinate Gokul Rajaram, Tykhe Block Ventures laminitis Prashant Malik, and CRED’s main designer Miten Sampat.

In a property release, the steadfast said the backing would beryllium utilized to make blockchain exertion to further its goals of empowering autarkic artists and gathering instrumentality communities.

At the bosom of this program is non-fungible tokens (NFTs). But however bash NFTs acceptable into what the steadfast calls Music 3.0?

NFTs driving euphony innovation

The euphony manufacture is simply a tough business to crack. Artists look aggregate seemingly insurmountable challenges, chiefly stemming from the powerfulness imbalance successful favour of grounds labels.

But FanTiger hopes to shingle things up by enabling the nonstop enactment of artists done NFTs. Fans tin besides payment financially via the Rewards Pool system.

Artists merchantability NFTs of their euphony done the level and power however the merchantability proceeds are used, specified arsenic for production, shooting videos, and truthful on.

A definite percent of the royalties earned from a peculiar NFT tin beryllium committed to a vaulted Rewards Pool. At the extremity of a acceptable period, the NFT holders of that opus get paid retired from the Rewards Pool. The much fashionable the song, the much is paid retired to holders.

These NFTs volition beryllium tradable successful the secondary marketplace erstwhile FanTiger builds retired its NFT marketplace.

Meanwhile, fans get to link to the creator done assemblage access, rewards, and what FanTiger calls “exclusive money-can’t-buy privileges.” These privileges see behind-the-scenes content, conscionable and greet opportunities, entree to unreleased music, and backstage entree astatine concerts.

FanTiger Early Access Program Now Open

FanTiger CEO and co-founder Prashan Agarwal said the euphony concern should favour artists implicit grounds labels. He added that blockchain exertion and euphony NFTs volition crook the accepted euphony manufacture operation connected its head.

According to Agarwal:

“FanTiger is astatine the forefront of this gyration to amusement the satellite however NFTs tin reshape the euphony industry. FanTiger helps make Artist-Fan relationships arsenic has ne'er existed before, this volition springiness commencement to a caller epoch for Music.”

Agarwal has bold ambitions to onboard 10 cardinal users and 100,000 artists to the FanTiger platform.

Ahead of the company’s authoritative launch, an Early Access Program is disposable for those keen to get successful early. The archetypal 5,000 aboriginal members volition person a escaped NFT and benefits specified arsenic precedence entree to the astir in-demand euphony NFTs, performance tickets, and constricted variation merch.