FanTV, a blockchain-based content platform that makes use of synthetic intelligence to energy multimedia creation, has raised a further $3 million in funding from Mysten Labs, Cypher Capital, CoinSwitch Ventures, and Illuminati Capital.
This contemporary spherical builds on the $5.5 million it beforehand secured from backers together with Multicoin Capital, Woodstock Fund, Krafton, IOSG Ventures, Pravega Ventures, and Tykhe Block Ventures.
What does FanTV do?
Based in 2023 by Prashan Agarwal, previously the CEO of Gaana, FanTV combines AI and blockchain know-how to assist creators simply produce music, movies, podcasts, internet sequence, and vlogs.
Working on the Sui blockchain, the platform has amassed greater than 8 million customers and 80,000 creators, processing over 30 million transactions each month and producing 1.2 million hours of AI-augmented content.
Based on the firm, outstanding creators resembling TrevinVSNFT, Bitcoin educator Kashif Raza, CryptoIndia, and BlockFuel are already lively on the platform.
Management feedback
“We firmly imagine that creativity exists inside everybody, however typical content creation obstacles have stored many voices from being heard. FanTV’s AI instruments are altering this, enabling thousands and thousands to create and share their imaginative and prescient,” stated Agarwal, founder and CEO of FanTV.
“The way forward for social media just isn’t passive consumption however lively AI-powered content creation, and FanTV is main this transformation.”
FanTV’s financial mannequin revolves round AI-driven options, digital tipping, and customized Creator Cash, which permit followers to instantly help their favourite influencers whereas creators retain management over their content. Customers can buy credit to entry premium AI companies, tip or present creators, and even mint their very own digital tokens to supply unique materials or distinctive engagement alternatives.
Objective of fundraising
FanTV will use the raised capital to boost AI-powered instruments for creators, broaden the platform’s world creator community, and implement person progress methods.
Adeniyi Abioudin, Co-founder of Sui, acknowledged, “FanTV is at the forefront of the AI and blockchain convergence, creating real-world use instances at an unprecedented pace. They’re shaping the way forward for digital content.”
