Fanztar, a blockchain-based creative monetization platform, raised Rs 5 crore from India Quotient in a funding round. ShareChat founders Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan were among the angel investors, as were Sarthak Misra, SoftBank India’s investment Director, Manohar Charan (ShareChat’s CFO), and Tarsame Mittal, Founder of TM Ventures.
Fanztar will use the funds to develop new products and expand its technological and commercial teams. Fanztar will also use the funds for product development and market launch of the industry-leading product.
Himanshu Garg (CEO) and Sahil Singla (CTO) of IIT Delhi founded the company, which intends to use utility-based nonfungible tokens for creator monetization and blockchain-based tools to ensure transparency and accountability.
They are on the verge of a future in which web3 will upend business models across industries. For the first time, fans can participate in a creator’s value creation journey, allowing them to become active participants rather than passive consumers of content. In the form of incentivized fans, they are opening up a new channel of monetization, engagement, and advocacy for creators, stated Himanshu Garg, Co-Founder and CEO of Fanztar.
They are still in the early stages of the creator economy’s evolution. Fanztar’s approach is unique and adds value to both creators and fans. With all of the hype surrounding web3 speculation fading, they are excited to see some long-term applications of blockchain technology emerge finally, stated Madhukar Sinha, India Quotient’s Founding General Partner.
Fanztar is a blockchain-based creative monetization platform.
For more information,visit https://www.fanztar.com/