Mumbai, India | 18 October, 2024: Sui-backed SocialFi platform RECRD today announced a partnership with Indian media & entertainment giant Shemaroo Entertainment, as part of its ongoing efforts to drive a new wave of social engagement led by blockchain tech. The move will see Shemaroo Entertainment- one of the largest owners of entertainment IP globally, transform its catalogue of Bollywood movies and music into unique digital collectibles. This collaboration will unlock blockchain-powered monetization and offer fans exclusive access to unique content and experiences tied to their favorite movies.
Through this strategic partnership, Shemaroo Entertainment will launch series of digital collectables from its renowned Bollywood film library, including popular titles like Jab We Met, Khakee, Golmaal Returns, and Masti, among others on RECRD’s platform. This collaboration is further expected to change how users interact with Bollywood content, by providing an avenue for engage-and-earn opportunities through RECRD’s proprietary dynamic video responses feature – REBND (REBOUND).
RECRD is at the forefront of a new wave in digital interaction, offering a platform where creators can post and monetize their content through blockchain technology. By leveraging this cutting-edge technology, RECRD enables creators to engage with their audiences in unprecedented ways, allowing for direct monetization and deeper fan connections.
Arghya Chakravarty, COO of Shemaroo Entertainment Ltd., said, ‘’Our partnership with RECRD marks a significant milestone as we become the first Indian media company to adopt the innovative SocialFi platform. This bold step positions us as a pioneer in the integration of blockchain technology within the entertainment sector, setting new standards for global media. By leveraging these advancements, we empower our audiences to connect with their favorite films in exciting and immersive ways, enhancing user engagement and content monetization. We are eager to explore the transformative possibilities this collaboration will unlock for the industry, solidifying Shemaroo Entertainment’s role as a trailblazer in the future of digital content.’’
Shemaroo Entertainment’s extensive catalog of Bollywood blockbusters provides a rich foundation for creating digital collectibles that celebrate Indian cinema. This collaboration not only opens up exciting new avenues for fan engagement but also sets a precedent for future integrations of entertainment and blockchain technology.
Founded by tech entrepreneurs Anoir Houmou and Dominic Frazer-Imregh, RECRD enables instant monetization of expressive videos and converts them into digital collectables, creating a mutually rewarding experience where every participant, including advertisers, engage through tradeable content. The platform presently has three tiers: Platinum, Diamond and Gold, each offering varying levels of revenue share and benefits to creators. Under the partnership, Shemaroo Entertainment will be onboarded as a Platinum Creator.
Speaking on the partnership, Anoir Houmou, Co-founder and CEO, RECRD, said, “As a global SocialFi platform, we are ushering in a new wave of monetization for the $250 billion creator economy. Our strategic partnership with Shemaroo Entertainment and foray into India allows us to bring some of Bollywood’s most-loved IPs to a global user base, while empowering the country’s massive base of digital creators and influencers to monetize content and create their own success stories. With digital users preferring to engage directly with their favourite creators, our proprietary REBND feature allows this through dynamic video interactions, as opposed to plain comments or likes. Our integration on the Sui Blockchain will be key to bringing greater transparency and creating an ecosystem where every interaction is mutually rewarded.”
RECRD recently raised $4 million from prominent names in blockchain and entertainment, with over half a million users onboarded in its private beta stage. The platform allows monetization avenues for creators, users and brands through a unique engagement model built on shareable short-form content and dynamic video reactions called REBND (rebound). 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.
How The Shemaroo Entertainment Partnership Will Benefit The Entertainment Industry
As one of the world’s biggest media & entertainment companies, Shemaroo Entertainment’s partnership with RECRD will pave the way for users to engage with Bollywood content in a completely different way. RECRD’s proprietary dynamic video response feature ‘REBND’ and instant-digital collectible feature will form the backbone of this adoption, while also empowering content creators and freelancers to tap into the wider benefits of digital collectible tech and build proprietary digital content that can be then converted into tradable assets on the blockchain. The end result is an ecosystem of newer creators, brands and users who gain greater control over distribution and revenue of their content. For advertisers, this means a more targeted user reach and higher ROI on their investments.
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. Additionally, RECRD’s impressive growth potential in the SocialFi segment has seen it attract a slew of global 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.
