SocialFi platform RECRD closes $4 million funding round

SocialFi platform RECRD has announced a $4 million funding round led by the Sui Foundation, with participation from the DNA Fund, Alphabit Fund, and angel investors including former Netflix co-founder Mitch Lowe and former NBA player Mitch Richmon. ECRD allows creators and users to convert their content into NFTs and instantly monetize it through dynamic video interactions. The project is reportedly in beta, allowing creators to make their videos into NFTs and sell them directly on the platform, with purchasers receiving ownership and a portion of the ad revenue.