FanTiger, an Indian music non-fungible token (NFT) marketplace, has launched its indie rock music NFT ‘Nusrat’ by Chandigarh based band Naalayak, which is led by singer and composer Sahil Samuel. This is the second music NFT from http://www.FanTiger.com.
According to the NFT marketplace, sale of NFTs for the band’s upcoming song ‘Nusrat’ has gone live. Fans can now invest in the NFTs that shall have three tiers such as platinum, gold and silver, and earn royalty income along with money unrelated privileges. The song ‘Nusrat’ is scheduled to go live on August 24, 2022, across various social platforms and music streaming apps.
As stated by Prashan Agarwal, co-founder and CEO, FanTiger, they look forward to launch the indie rock music NFT and second NFT from FanTiger, as their goal is to introduce music NFTs across various genres to benefit Indian artists and help the art grow. “The launch aims to pave way for artists to engage with FanTiger, build their own digital collectibles and connect with fans in more ways. To my mind, technology is a part of music industry and those working in the space have always been early adopters. Post Covid, artists, especially independent musicians, have seeked to find alternate revenue streams and music NFTs have intended to bridge the gap,” he added.
“I look forward to the possibilities NFTs can offer, for artists and art in general. I believe that music NFTs will change the way musicians and fans create community and art together. Feedback from our fans will help us grow and at the same time, popularity of the song can benefit our fans,” Samuel said.
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, technology, extend industry partnerships, and onboard more Indian artists. The NFT marketplace’s vision is to onboard 10 million fans into the community, and spread education and awareness around digital collectibles. It aims to roll out initiatives to support careers of over 100,000 artists using NFTs.
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