UAE based creator monetisation platform Lyvely wins 'Social Platform of the Year' award

Phoenix Group, an ADX listed multi-billion dollar tech conglomerate recently acquired a 25 per cent stake in the company

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Published: Fri 15 Mar 2024, 2:53 PM

Lyvely, the pioneering social networking platform focused on creator monetisation, has won the 'Social Platform of the Year' Award at the prestigious E-Business Awards held in Dubai. Founded by award-winning chief legal officer and entrepreneur Farah Zafar, and global tech and wellness entrepreneur Dave Catudal, Lyvely won for its role in bridging tech and user experience through innovation in creator monetisation tools.

Aiming to disrupt the $470 billion global creator community, Lyvely leverages innovation in social commerce to empower 100 million creators and enable them to monetise more effectively while doing what they do best: create content. The company recently saw a 25 per cent acquisition by Abu Dhabi Exchange (ADX) listed multi-billion dollar tech conglomerate Phoenix Group, further underscoring the credibility of the platform and its mission.

Bijan Alizadehfard, co-founder and group CEO of Phoenix Group, said: "We are proud of Lyvely winning the Social Platform of the Year Award. Social commerce and the creator economy are growing exponentially, and our strategic investment in Lyvely symbolises our commitment to shape the creator community and support homegrown tech start-ups."

Lyvely’s co-founder and CEO, Farah Zafar, said: "We are not just another social media platform promoting vanity metrics. Lyvely symbolises a fundamental change in the way people interact and transact online by monetising their social network. Everyone who posts online and adds value to the digital ecosystem is rewarded for their contribution, and this is why Lyvely believes in putting the power of earning into the hands of creators."

Adding to this vision, Lyvely’s co-founder and CXO, Dave Catuda, said: "The Award is a testament to our commitment in growing the creator community. As creators ourselves, we understand that building a community is key to financial independence, and this recognition fuels our mission to empower people to do what they love, and get paid for it."

Lyvely made waves last year when it rolled out some of its creator monetisation tools, empowering individuals and brands to monetise on their terms, outside of the Big Tech ecosystem. With a fully integrated multimedia e-commerce, live streaming and monetisation platform, Lyvely provides users with a digital HQ to build their brands in a scalable and secure ecosystem.

With the platform registering an impressive early traction, Lyvely is gearing up for the launch of its mobile app this summer, followed by a much-awaited Token launch. These developments will enable Lyvely to tap into the endless possibilities of SocialFi and Decentralised Social (DeSo), as it bids to power the creator economy and redefine how people connect and earn online.

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