FanTV Partners with Mysten Labs to Revolutionize Web3 Social Media Landscape

DUBAI, UAE – 21/05/2024 – (SeaPRwire) – FanTV, a trailblazing platform in the Web3 SocialFi space, is poised to revolutionize how content is created and consumed with its groundbreaking watch-to-earn model. In a significant strategic move, FanTV has announced its integration with the Sui blockchain through a technical partnership with Mysten Labs. This collaboration is set to accelerate the global creator economy, offering unprecedented opportunities for content creators worldwide. Previously, FanTV successfully raised $5.5 million in a seed funding round led by Multicoin Capital, with participation from notable investors such as Krafton, IOSG Ventures, and Woodstock Fund.

The video industry is on a remarkable growth trajectory, with projections indicating it will expand more than four-fold to over $1.9 trillion by 2030. Central to this surge is the burgeoning creator economy, which FanTV is primed to lead with its unique offerings. Boasting 4 million users and over 20,000 creators, FanTV stands at the forefront of this digital transformation. It is currently the leading SocialFi decentralized application (dApp) on Polygon, with more than 1.5 million smart wallets, highlighting its pivotal role in bringing the masses into the Web3 fold.

Founded by Prashan Agarwal, former CEO of Gaana, one of India’s largest music streaming services, FanTV is a decentralized platform dedicated to video and live streaming. Agarwal’s vision is to empower creators, enabling them to monetize their content and build exclusive, gated communities that offer unique, money-can’t-buy experiences. On FanTV, both creators and users are rewarded for their contributions to the platform’s growth, ensuring a fair distribution of benefits.

Prashan Agarwal expressed his enthusiasm for the partnership, stating, “At FanTV, our vision has always been to empower creators and users. Traditionally, content creators and users have been the product while the respective platforms reaped the majority of the benefits. FanTV is committed to disrupting that status quo. We believe that content creators and consumers are the backbone of the platform and should be rewarded proportionately for their contributions. Achieving consumer disruption at scale requires disruptive technology. Sui’s blockchain technology and commitment to creator empowerment further solidify this partnership as a win-win. We’re thrilled to embark on this journey of unleashing the full potential of Web3 social together. FanTV’s vision to revolutionize the creator economy aligns naturally with the innovative values of Sui, the Layer 1 and smart contract platform. This is just the beginning, and our aim is to onboard over 100,000 creators and 10 million users in the next 12-18 months.”

Adeniyi Abiodun, Chief Product Officer at Mysten Labs, also shared his thoughts, saying, “Prashan and his team have built a groundbreaking product with a seamless UI/UX experience. Seeing FanTV attract millions of real users speaks volumes about the love and acceptance from creators and users alike. We are excited to witness their continued success in the Web3 social space.”

FanTV’s integration with the Sui blockchain marks a pivotal advancement in the evolution of Web3 social media. This partnership promises enhanced scalability, reduced transaction costs, and a seamless user experience, setting the stage for widespread adoption of Web3 technologies. Both FanTV and Sui share a commitment to innovation and growth, poised to reshape the social media landscape and foster the next wave of decentralized content creation and consumption.

For further details about FanTV and its transition to Sui, visit FanTV.

About FanTV:

FanTV is a next-generation content creation platform that empowers everyone to create, consume, and be rewarded. It bridges the gap between traditional video streaming platforms and the Web3-enabled video streaming experience. FanTV believes in the creative potential of every individual and seeks to democratize content creation and discovery. By providing advanced AI tools and decentralizing content ownership, FanTV aims to enable everyone to be a creator.

About Sui:

Sui is a pioneering Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible to all. Its object-centric model, based on the Move programming language, supports parallel execution, sub-second finality, and rich on-chain assets. Sui offers horizontally scalable processing and storage, supporting a wide range of applications with exceptional speed and low costs.

About Mysten Labs:

Mysten Labs consists of experts in distributed systems, programming languages, and cryptography, including former senior executives of Meta’s Novi Research. The team’s mission is to build foundational infrastructure for Web3, including the development of the Diem blockchain and the Move programming language.


by Arrow123

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