Press Release
Multicoin backed FanTV – largest Social dApp on Polygon moves to Sui to fuel Creator Economy Revolution
FanTV partners with Mysten Labs to migrate to Sui blockchain, aiming to empower over 100,000 creators and attract 10 million users within 18 months.
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- FanTV, leading socialFi app with more than 4 mn users, has partnered with Mysten Labs to bring mass adoption to web3
- FanTV aims to onboard over 100,000 creators and 10 million users in the next 12-18 months
- Sui with impeccable qualities – high TPS, low gas fees, high scalability – is perfect for FanTV’s high-volume needs
Dubai, 9th May 2024 – FanTV is a web3 SocialFi app, poised to disrupt the content creation and consumption market via its unique watch-to-earn offering. FanTV has announced its move to the Sui blockchain via a technical partnership with Mysten Labs, to fuel the global creator economy and empower creators. FanTV had earlier raised $5.5 mn in their seed round led by Multicoin capital with Krafton, IOSG Ventures, Woodstock Fund.
The global video streaming market size is projected to grow more than four-fold to over USD $1.9 trillion by 2030 with the creator economy leading the charge. FanTV with its unique offering is at the forefront of this revolution with 4 million users and more than 20,000 creators on the platform. FanTV is the leading SocialFi dApp on Polygon with more than 1.5 million smart wallets, solidifying its contribution to onboarding the masses to Web3. FanTV now plans to onboard creators across the globe and help them build their fan bases and monetize their crafts.
Founded by Prashan Agarwal, ex-CEO of Gaana (one of India’s largest music streaming platforms that raised $115M from Tencent), FanTV is a decentralized video and live streaming platform that empowers creators to create content, monеtizе their creativity, and build money-can’t-buy experiences using exclusive gated communities. On FanTV, creators and users are both rewarded for their contributions to the growth of the platform.
Prashan Agarwal, Founder and CEO, FanTV, expressed excitement about the collaboration, stating,
“At FanTV, our vision has always been to empower creators and users. Content creators and users have primarily been the product while the respective platform reaps majority of the benefit. FanTV is hyper-focused on disrupting that status quo. We believe that content creators and consumers are the backbone and should be rewarded proportionately for their contribution. Consumer disruption at scale requires disruptive technology, Sui’s blockchain technology, and commitment to creator empowerment further solidifies 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 is a natural alignment with the values of Sui, the innovative 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”.
“Prashan and his team have built a groundbreaking product with seamless UI / UX experience, and seeing FanTV attract millions of real users speaks volumes about the love from creators and users,” said Adeniyi Abiodun, Chief Product Officer at Mysten Labs. “We are excited to witness their continued success in the Web3 social space.”
FanTV’s move to Sui represents a significant step forward in the evolution of Web3 social media, offering users enhanced scalability, lower transaction costs, and a seamless user experience. With a shared vision for innovation and growth, FanTV and Sui are poised to reshape the social media landscape and foster widespread adoption of Web3 technologies.
For more information about FanTV and its transition to Sui, please visit https://fantv.world.
About FanTV
FanTV is the next generation content creation platform, which enables every person to create, consume and get rewarded. The platform bridges the gap between traditional video streaming platforms and Web3 enabled video streaming experience. FanTV believes every person is creative, yet aren’t resourced well to create or get discovered in an ocean of centralized platforms and this leads to the incentivisation of only the concentrated few. We seek to change that by arming everyone to be a Creator with all the tools that foster creativity enabled by advancements in AI and decentralize the ownership and discovery of content.
FanTV’s vision is to attract the next billion users to Web3 by empowering the creator economy and democratizing content ownership.
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences.
Learn more: https://sui.io
About Mysten Labs
Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for Web3.
