Company:FanTiger
Founders:Prashan Agarwal, Kishna Singh
Participation:Seed
Co-Investors:Multicoin Capital, Woodstock, Krafton
Launch Date: July 2022
What is FanTiger?
FanTiger enables Independent Artists to create their own fan communities and allows fans to be a part of the growth of Artists by purchasing Music NFTs. These NFTs provide fans with special access to exclusive content, such as early access to behind-the-scenes footage, meet-n-greet chances, unreleased music, and backstage access to concerts, helping to build a direct connection and loyalty with the Artist. Furthermore, fans can earn royalties from their NFT purchases, further incentivizing them to invest in their favorite Artists.
Why we invested?
FanTiger is revolutionizing the music industry by creating a unique Artist-Fan relationship with the help of Non-Fungible Tokens (NFTs). This enables fans to be more involved in the process of the artist’s success and makes the artist-fan relationship more tangible.
Artists are given the opportunity to monetize their work and reward their fans with exclusive privileges such as early access to exclusive content, meet-and-greet opportunities, unreleased music, and backstage access to concerts. Fans who purchase Music NFTs are also given a chance to earn royalty and access to personalized fan communities. This welcome move will usher in a new era in Music - an era that will power Artist-Fan relationships as has never existed before. We are confident that FanTiger’s innovative approach will revolutionize the music industry and open up new opportunities for artists and fans alike.
Challenges in the current landscape
The current landscape for the music industry is highly competitive and fragmented, with a multitude of platforms and services vying for artists and fans alike. This makes it difficult for artists to stand out from the crowd and increase their visibility. With so many options available, it can be difficult to make an impact in the industry and break through the noise. Additionally, the competition for artists and fans can create a situation where prices for services and products are driven down, which can negatively impact the profitability of the music industry.
With the rise of streaming, monetizing music has become increasingly challenging. Streaming services typically pay low royalties, which can make it difficult for artists to make a living from their music. Additionally, without the support of a major label, it can be difficult for independent artists to negotiate better royalty rates or secure other revenue streams such as physical record sales and radio play. This can make it difficult for artists to make ends meet, especially in the early stages of their careers.
Without the support of a major label, it can be difficult for independent artists to promote their music. This can make it difficult for independent artists to increase their visibility and reach new audiences. Additionally, due to the lack of a large marketing budget, independent artists may be limited in their ability to advertise their music on traditional platforms such as radio and television.
How FanTiger is solving music?
FanTiger is utilizing NFTs to create a new revenue stream for artists and give fans a chance to be part of an exclusive artist community. The NFTs give fans access to exclusive content, meet-and-greet opportunities, unreleased music, and backstage access to concerts. Fans can also earn royalty when they purchase NFTs. This is a welcome move that will give artists the opportunity to monetize their work and reward their fans.
FanTiger is also strengthening the Artist-Fan relationship by providing a direct channel of communication between the two. This allows artists to interact directly with their fans and build a loyal fan base. Additionally, the NFTs provide a way for artists to reward their fans for their loyalty and support.
FanTiger is also increasing the visibility of independent artists by providing a platform for them to promote their music. This provides a platform for independent artists to reach new audiences and build their fan base. This will help independent artists break through the noise and achieve success.
How does it work?
Artists Dropping Music NFTs: FanTiger enables artists to create Music NFTs of their releases that fans can purchase to support them. The proceeds from these music NFTs can be used by the artist to cover costs associated with music creation, studio production, music videos, marketing, etc. This provides artists with a new way to monetize their work and reward their fans.
Commitment to Rewards Pool: The artist also has the option to commit a certain percentage of the royalties earned from the song, for a limited period of time, to the Rewards Pool, which is kept in a vault. This allows fans to earn a bonus from the Rewards Pool at the end of the period for marketing the song.
Access to Exclusive Artist Communities and Privileges: NFT Holders (Fans) are given access to exclusive locked Artist communities and privileges such as meet-and-greet opportunities, listening sessions, merchandise, unreleased music, and more. This gives fans an incentive to purchase Music NFTs and strengthens the artist-fan relationship.
Trading NFTs: These NFTs can be traded on the secondary market (once the marketplace is live on FanTiger) or exchanged for other NFTs on the platform. This provides fans with an opportunity to earn royalty and access to personalized fan communities. It also helps to increase the visibility of independent artists and create a new revenue stream.
Conclusion
In conclusion, FanTiger is revolutionizing the music industry by creating a unique Artist-Fan relationship with the help of Non-Fungible Tokens (NFTs). This enables fans to be more involved in the process of the artist’s success and makes the artist-fan relationship more tangible. The platform provides an opportunity for artists to monetize their work and reward their fans with exclusive privileges such as early access to exclusive content, meet-and-greet opportunities, unreleased music, and backstage access to concerts. Fans who purchase Music NFTs are also given a chance to earn royalty and access to personalized fan communities.
We are confident that FanTiger’s innovative approach will revolutionize the music industry and open up new opportunities for artists and fans alike.