News Update
Singer AR Rahman to launch NFTs with HBAR Foundation
-
ByTejika Bajaj | January 8, 2022
The HBAR Foundation has recently joined hands with the Indian composer, producer and musician AR Rahman to curate content for a new NFT music platform which is focused on India’s independent music community.
As a part of the launch, the singer would release his first-ever NFT and will subsequently drop the portion earned by him to charity. Further, the HBAR Foundation has also pledged to support the growth and development of NFT platforms by providing financial and organisational benefits.
“We’re excited to partner with HBAR Foundation to create content, as well as support and mentor the new NFT platform, which in turn will bring more opportunities to the Indian music community,” said Mr. Rahman. “The new platform will enable independent musical artists to release content as NFTs, interact with fans, engage with their communities and help monetize their creations.”
The announcement comes against the backdrop of a majority of celebrities and cricketers foraying into the NFT space owing to the recent havoc caused by the segment in the consumer market. What sets the deal between AR Rahman and HBAR foundation apart is that the launch is mainly done to derive benefits for a charity rather than for personal gains.
“The HBAR Foundation is proud to support innovative projects across the globe, and our strategic partnership with A.R. Rahman provides tremendous value to the HBAR ecosystem with its focus on the large and vibrant music community in India,” said Shayne Higdon, Executive Director & CEO at the HBAR Foundation.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
