SocialFi platform RECRD announced the completion of a $4 million financing round, led by the Sui Foundation, and participated by DNA Fund, Alphabit Fund, and angel investors such as former Netflix co-founder Mitch Lowe and former NBA player Mitch Richmon. ECRD allows creators and users to convert their content to NFT and get instant monetization through dynamic video interaction. It is reported that the project has completed the beta phase, and creators can turn their video into NFT and sell it directly on the platform. Buyers receive ownership and part of the advertising revenue.