ICO PROPS by YouNow

Leveraging our community of millions currently transacting in a digital currency, PROPS creates a new, blockchain-powered model for digital media networks. PROPS is a cryptocurrency that powers participation in video applications and equitably rewards users, creators and developers that drive engagement on its digital media network. PROPS grants access to features, content, and status across media apps including the Rize video platform, the first PROPS-powered app, which will enable developers to leverage PROPS’ open, many-to-many video infrastructure. You can learn more about the PROPS platform at https://coinlist.co/props

Cryptoeconomic business models offer financial utility and network ownership for all network participants and create strong incentives for early adopters to participate even before a critical mass of users is achieved. This is a new, promising path to overcoming the “chicken and egg” problem where, in the old model, networks tend to provide value to participants only upon reaching a critical 7 mass of users. This is important in today’s landscape, where a few monopolistic media networks exercise powerful network effects that serve as a barrier to healthy competition.

In order to compete, decentralized networks must still develop cohesive user experiences, viable economics and platform ubiquity that consumers have come to expect. If these challenges can be met, an opportunity will emerge to reshape the digital media landscape.

The YouNow team is uniquely positioned to take on this challenge. Since 2011, YouNow has been a pioneer in the live streaming video space and was the first company to popularize live mobile video in the U.S. In stark contrast to the monetization strategies of most social media companies, YouNow successfully invented a microtransaction-driven, two-sided economy within the context of video entertainment that allows YouNow to reward content creators. Over the 7 last three years, YouNow has generated over $50 million in virtual goods sales and shared the majority of its earnings with its content contributors. 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.