About ICO (token sale)
We present a decentralized model for a digital media network that uses blockchain technology to equitably reward its contributors: users, content creators, developers and others. We are introducing PROPS, a cryptocurrency that powers social participation in digital media and Rize, a new platform for interactive video that will be the PROPS token’s first large-scale adopter and champion. Rize is an open video platform that connects groundbreaking many-to-many video technology with tokenized virtual gameplay and aligned economic incentives for its participants.
Launching in tandem with PROPS, and seeded with YouNow’s community of millions, Rize will popularize the cryptocurrency. Rize will serve as the initial member of the PROPS Ecosystem, a group of applications and platforms powered by PROPS that fairly and transparently reward participants in proportion to their contributions to the network. Half of the PROPS supply will be governed by a non-profit foundation that will distribute them across the ecosystem, incentivizing third party application developers, content contributors and users to join the PROPS Ecosystem in order to build a user-focused alternative for today’s highly centralized digital media landscape.
In launching the PROPS Ecosystem, the YouNow team continues to pioneer video networks via an open video platform and an ecosystem with a decentralized economy. The PROPS Ecosystem will benefit from YouNow’s millions-strong user base and creator community, a new many-to-many video technology and a 40 person team with notable video and virtual economy expertise. YouNow Inc. plans to transition from its current state as a C Corp to become a B Corp, with a PROPS centric mission: creating a more open and sustainable media ecosystem. Through the adoption of PROPS, all network participants, users, content creators, developers and others will be aligned around the long-term growth of the network. This combination of a community of users engaged in earning and spending PROPS through participation and consumption, with a large reward pool for third-party developers who enhance it with new use cases, provides a strong foundation for the development of the PROPS Ecosystem.
Solving the biggest problem in social.
A few platforms dominate social, and control digital media distribution. Their strength depends on millions of users creating and sharing content, but only a small fraction of the hundreds of billions in enterprise value that they have amassed flows back to those that create it.
Decentralization properly aligns the network.
We believe that users should transparently and programmatically earn for their contributions to a network, and have a stake in the community they are growing. PROPS ensures that network value flows back to the people who help it grow, better aligning stakeholders across the platform.
Our community of millions of users and content creators is spending and earning digital currency today (62K transactions / day). They will spur demand for PROPS day one, making it one of the world’s most widely used cryptocurrencies early on.
Open platform for many-to-many video.
First many-to-many video infrastructure, enabling VOD, video chat, linear or premium content, multi-user live streaming and more. Creators and developers drive user engagement, and get rewarded in PROPS.
A token with fundamental value.
Users hold PROPS to promote content, access exclusive features, and signal status across media apps. The larger the network, the more valuable these benefits.
User activity drives demand for PROPS.
Mainstream users need no knowledge of the underlying cryptoeconomics to enjoy and participate on the platform. They can engage for free or through in-app purchases, which in turn drive demand for PROPS.