Independent pop rock band Naalayak becomes one of the first indie bands to release their music Non-Fungible Tokens (NFT) through FanTiger, a marketplace for NFTs. Launching tokens for their upcoming song Nusrat, the Chandigarh-based band becomes second music NFT through FanTiger.

According to FanTiger, the NFTs for Naalayak's upcoming song Nusrat has gone live. It is now open to invest and will offer a three-tiers such as platinum, gold, and silver. Investors can also earn royalty along with money unrelated priviliges. Scheduled to go live on August 24, Naalayak's Nusrat will be released across various social media platforms and music streaming app.

Speaking about the music NFTs in indie music space, the CEO and co-founder of FanTiger Prashan Agarwal said their goal is to introduce music NFTs acorss various genres that will benefit Indian indie musicians. '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 said.

"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,' Sahil Samuel, the lead member of the indie band said.

FanTiger was recently funded by Multicoin Capital with a whopping $5.5 million. The company plans to use funds to expand its team acorss product, technology, extend industry partnerships, and onboard more Indian independent artists. It aims to roll out intiatives to support careers of around 100,000 Indian indie artists.

We can certainly see the Indian indie community growing and how. Also, we can't wait for another Naalayak magic. Stay tuned to this space to know more about their upcoming song Nusrat.