FanTV, a leading SocialFi platform empowering the creator economy, announced today a major milestone of onboarding over 1 million new user accounts on Sui, the Layer 1 blockchain and smart contract platform. This achievement represents 48% of the 2.6 million wallet growth on Sui over the past week. This significant growth underscores the successful integration of blockchain technology with social media platforms, enhancing user engagement and expanding the reach of decentralized networks. FanTV’s integration with Sui marks a pivotal step in the mainstream adoption of blockchain solutions in the content streaming landscape.
Founded by Prashan Agarwal, former CEO of Gaana (one of India’s largest music streaming platforms that raised $115M from Tencent), FanTV offers a unique Create / Watch to Earn model, bridging the web2 user experience with the web3 ecosystem. Users and creators earn points for engagement and content creation on the platform, which are then converted into the platform’s token. These tokens can be used for various platform utilities, such as promoting content, tipping creators, purchasing creator keys, and subscriptions. FanTV boasts over 4 million users and more than 20,000 creators. Its integration with Sui has significantly contributed to this growth, adding over 1 million wallets to the Sui platform and solidifying its role in bringing the masses to Web3.
Prashan Agarwal, Founder and CEO of FanTV, expressed his excitement about this milestone, stating, “Partnering with Sui has enabled us to deliver even greater value to our users. As the fastest-growing consumer social dApp, FanTV is committed to pioneering new frontiers in blockchain technology, user engagement, and new avenues for creator monetization. This surge in established wallets is just the beginning of what we can achieve together. Our vision is to decentralize the creator economy, and this is a good step in that direction.”
Greg Siourounis, Managing Director of the Sui Foundation, commented, “Thanks to FanTV’s recent integration with Sui, we’re witnessing Sui’s tremendous capacity to handle dramatic increases in wallets seamlessly, without any interruption to user experience. This massive growth is a testament to the power of collaboration and innovation, and we are excited to witness continued growth and adoption within the Sui ecosystem.”
Following this milestone, FanTV plans to focus on global expansion, aiming to onboard over 100,000 creators and 10 million users in the next 12 months.
Source: cryptodaily.co.uk
