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FanTV Surpasses 1 Million New User Accounts on Sui Blockchain: A Milestone in SocialFi Adoption

FanTV, a SocialFi platform revolutionizing the Creator economy, has achieved a major milestone by 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, showcasing the significant impact of integrating blockchain technology with social media platforms. This successful integration enhances user engagement and extends the reach of decentralized networks, marking a pivotal step in mainstream blockchain adoption within the content streaming landscape.

Founded by Prashan Agarwal, former CEO of Gaana (India’s leading music streaming platform that secured $115M in funding from Tencent), FanTV introduces a unique Create/Watch to Earn model, bridging the gap between web2 and web3 ecosystems. Through FanTV, users and creators earn points for engagement and content creation, which are then converted into the platform token for various utilities such as content promotion, creator tipping, purchasing creator keys, subscriptions, and more. With over 4 million users and 20,000 creators, FanTV’s inclusion has propelled significant growth, onboarding over 1 million wallets to Sui and cementing its role in introducing the masses to Web3.

Prashan Agarwal, Founder and CEO of FanTV, expressed enthusiasm for reaching this milestone, emphasizing the value brought to users through the partnership with Sui. He stated, “FanTV is dedicated to pushing the boundaries of blockchain technology, user engagement, and creator monetization. Our collaboration with Sui signifies just the beginning of what we can accomplish together. Our vision is to decentralize the creator economy, and this achievement is a positive step in that direction.”

Greg Siourounis, Managing Director of Sui Foundation, praised FanTV’s integration of Sui, highlighting its ability to seamlessly manage significant upticks in wallets without compromising user experience. He remarked, “This remarkable growth underscores the power of collaboration and innovation. We look forward to witnessing continued expansion and adoption within the Sui ecosystem.”

With this significant milestone, FanTV sets its sights on global expansion, aiming to onboard over 100,000 creators and 10 million users within the next 12 months.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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