KEY TAKEAWAYS
- FanTV leverages blockchain technology to enhance transparency and empower content creators by bringing content creation onchain.
- The platform introduces a unique monetization model where both creators and users earn tokens for their engagement, incentivizing quality content production.
- FanTV has experienced significant growth since transitioning to the Sui blockchain, with over 5 million wallets and 10 million transactions.
- Future plans include launching an airdrop program and Creator Keys, offering exclusive benefits to fans.
In an era marked by the rapid growth of digital content creation, platforms for uploading videos and music are abundant. However, transparency in monetization remains a significant challenge. Web3 startup FanTV aims to address this issue by bringing content creation onchain.
Prashan Agarwal, founder and CEO of FanTV, highlighted the disparity in revenue distribution in centralized systems. “In the centralized system, the top 1 percent of artists make 90 percent of the revenue,” Agarwal stated. He noted that platforms like Spotify and YouTube reward creators through revenue sharing, but skewed algorithms favor the top creators, making it difficult for newcomers to gain traction.
FanTV seeks to change this dynamic by leveraging Sui’s object-oriented data structure, Enoki, and AI to enhance transparency and empower creators. Agarwal, who previously served as CEO of Gaana, recognized the flaws in centralized content systems, including discovery, distribution, and monetization. These insights led to the creation of FanTV and an earlier venture, a music NFT marketplace called FanTiger.
Innovative Monetization Model
FanTV introduces a unique platform ownership model where both creators and users earn tokens for their engagement. This approach incentivizes creators to produce quality content and rewards users for their participation, whether through watching, sharing, or inviting new users.
“From the very first view, creators start earning tokens, and users can accumulate tokens just by consuming content,” Agarwal explained. The platform reduces barriers for creators by allowing free content uploads and providing an onboarding bonus. Unlike traditional platforms, FanTV enables creators to earn tokens from their first view, and users can tip creators in FanTV tokens.
FanTV also incorporates AI features to assist content creators, such as converting text to video and editing via voice prompts. In May 2024, FanTV transitioned to the Sui blockchain to address scalability and transaction cost challenges. “Our biggest challenge was scalability and gas fees,” Agarwal noted, emphasizing Sui’s efficient infrastructure.
Global Reach and Future Plans
Since adopting Sui, FanTV has experienced significant growth, onboarding over 5 million wallets and facilitating more than 10 million transactions. It has become the leading video streaming platform on the Sui ecosystem, with approximately 1.5 million monthly active users and an average session duration of 90 minutes.
FanTV’s global reach extends to users in over 57 countries, offering content in multiple languages, including regional Indian languages, Chinese, Korean, and English. The platform has attracted prominent creators in the crypto space, such as Kashif Raza and CryptoCab.
Initially focused on music, FanTV has expanded to include vlogs, comedy, and educational content. It has also introduced short-form videos and live streaming as a beta product. Looking ahead, FanTV plans to launch an airdrop program and a feature called Creator Keys, allowing fans to purchase exclusive benefits from creators.
With Sui as its partner, FanTV is poised to continue innovating within the creator economy, empowering both creators and fans. More details about FanTV’s initiatives can be found here.
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