London & San Francisco, July 17, 2024 (GLOBE NEWSWIRE) --
- RECRD is founded by tech entrepreneurs Anoir Houmou, CEO & Founder, and Dominic Frazer Imregh, CTO & C0-Founder
- The DeFi integration is powered by the Sui blockchain, with RECRD enabling social monetization for creators & users through short-form videos and dynamic video reactions based on its patent-pending REBOUND (rebound) tech
- RECRD has received investment from the Sui Foundation, Mitch Lowe of Netflix, NBA All-star Mitchell Richmond, Alphabit Fund and DNA Fund
- Prominent advisors include Ted Smith, ex-IPG Group, Seb Reis of checkout.com and Pranav Sharma of Woodstock VC
Social monetization and interactive video platform RECRD today announced an investment of $4 million across two funding rounds, from prominent names in crypto and entertainment. The funding follows a successful year operating in beta, with over 2,000 creators and nearly half a million users onboarded. RECRD’s post-seed round has been led by the Sui Foundation, with other prominent backers including Mitch Lowe, Co-Founding Executive of Netflix, Mitch Richmond, six-time NBA All-Star, Jeffery Schoonover of Hollywood.com, Alphabit Fund and DNA Fund.
With short-form content taking over the bulk of social media usage (~200 billion Instagram reels were played in 2023), RECRD allows monetization avenues for creators, users and brands through a unique engagement model built on shareable short form content and dynamic video reactions called REBNDS (rebounds). The REBND feature, along with the DeFi integration powered by the SUI blockchain, are at the core of RECRD’s ambition to disrupt the $250 billion creator economy.
Founded by tech entrepreneurs Anoir Houmou and Dominic Frazer-Imregh, the platform enables instant monetization of expressive videos and converts them into NFTs, creating a mutually rewarding experience where every participant, including advertisers, share and own tradeable content. Expressing optimism at the investment raise and RECRD’s vision for content tokenization, Anoir Houmou, Founding CEO of RECRD, said, “The future of social media lies in empowering creators and engaging users in ways never possible before. Our goal at RECRD is to create an ecosystem where every piece of visual content can be monetized, shared, and owned transparently. This investment will help us advance our vision of making content tokenization accessible and rewarding for all participants.” Greg Siourounis, Managing Director of Sui Foundation, said, “Investing in RECRD aligns with our belief in the transformative power of blockchain technology. RECRD is pioneering a model where creators, users and advertisers can genuinely benefit from their digital interactions, and we are excited to support their journey in revolutionizing the creator economy.” How Monetization Works on RECRD
Built primarily as an interactive video platform, RECRD enables creators to earn up to 100% of ad revenue with instant monetization based on views rather than follower count. Users can respond to videos with their own dynamic video content (REBND), enhancing interaction and monetization. Creators can mint their videos as NFTs, and sell them directly on the platform. Users who then purchase the video NFT, get ownership as well as the ensuing ad revenue, which is added to the RECRD wallet. This can be cashed out as either $RECRD tokens* (*awaiting launch) or Fiat.
The platform’s unique REBND engagement model has been a major advantage in attracting some of its earliest users, who include global creative heavyweights such as Sidemen, Pubity, Memzar, CJ So Cool and Lil Scrappy. RECRD’s impressive early growth has also benefited from a slew of tech & entertainment advisors, including Ambassador James France, ex-Blackstone Group, Ted Smith 3rd, Former Member of IPG Group, Seb Reis Executive, checkout.com, Pranav Sharma, Founder of Woodstock VC, and Lauren Selig, Film Producer & Investor.
In the first phase of its public release, RECRD will be catering to India’s massive social media user base as it looks to fill crucial gaps in creator monetization. The RECRD global launch is set to coincide with the launch of the $RECRD token later this year.
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About RECRD
RECRD is a SocialFi platform redefining the way creators and fans interact through innovative video engagement and monetization. RECRD enables creators to earn up to 100% Ad revenue and sell their content while allowing users to engage with dynamic video responses called Rebounds and monetize them, thus creating a perfect balance between users-followers and advertisers.
For Investor Relations
investors@recrd.com
Media Contact
Kuruvilla Chacko
Luna PR, +971 567263143
