Two Social Networks Announce Plans to Combine YouNow’s Props Token

When YouNow launched the props token on ethereum final July, the corporate’s aim was at all times for different corporations to make use of it.

Now YouNow says two different peer-to-peer websites are integrating the crypto token: Camfrog and Listia. Camfrog is launching in a matter of weeks. Listia expects it to go reside in March. 

The token, which was granted a Reg A+ qualification from the U.S. Securities and Trade Fee (SEC), is used to reward content material creators for driving income on YouNow’s video-streaming platform.

“Now we have chosen to make use of the Props token, as common shoppers with out crypto-specific expertise can legally and simply earn and use the token,” stated Listia CEO Gee Chuang.

Camfrog is a video chat app. SimilarWeb exhibits its web site reaching greater than 1,000,000 individuals per thirty days. “We anticipate that Camfrog customers will change into extra engaged and constant, pushed by the motivation of incomes a monetary stake within the community,” Jason Katz, CEO of PeerStream, the app’s proprietor, stated in an announcement.

YouNow additionally claims it has reached over 1 million YouNow accounts which have earned or used props in a roundabout way, in line with its block explorer. 

In an uncommon transfer, the corporate introduced in July 2019 it had acquired SEC approval to not promote further props tokens, however to give them away as programmatic rewards for YouNow’s customers.

This gave the ethereum-based token the excellence of working as an SEC-approved token utilized by shoppers. 

Based on SEC filings in October, the creation of props boosted YouNow’s revenues, although it wasn’t sufficient to make the corporate worthwhile. We reported on the time that the corporate was in talks with different social media websites to combine the expertise. 

The cryptocurrency is technically ruled by a Delaware public profit company known as Props PBC. The platform rewards third-party apps in props with new token emissions every day. Every app can then select tips on how to distribute these tokens to its customers.

On YouNow, customers can maintain onto props with the intention to enhance their standing and affect on the positioning and to earn free presents. Customers presumably need these presents as a result of the extra presents they earn, the extra props tokens YouNow awards them.

Neither Camfrog nor Listia have launched info on how they plan to architect their props incentives.

Based on a YouNow spokesperson, video websites Paltalk and XSplit Gamecaster, have additionally dedicated to include props, however no particulars have been launched on a timeline.