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

When YouNow launched the props token on ethereum final July, the corporate’s aim was at all times for different firms 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 stay 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.

“We have now 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,” mentioned Listia CEO Gee Chuang.

Camfrog is a video chat app. SimilarWeb reveals its web site reaching greater than one million individuals per 30 days. “We anticipate that Camfrog customers will develop into extra engaged and dependable, pushed by the motivation of incomes a monetary stake within the community,” Jason Katz, CEO of PeerStream, the app’s proprietor, mentioned in a press release.

YouNow additionally claims it has reached over 1 million YouNow accounts which have earned or used props ultimately, in keeping with its block explorer. 

In an uncommon transfer, the corporate introduced in July 2019 it had obtained SEC approval to not promote further props tokens, however to present 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. 

In line with 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 the corporate was in talks with different social media websites to combine the know-how. 

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

“Apps acknowledge that higher aligning with their customers is a key for enterprise success,” Props PBC co-founder mentioned in a press release. “Props is a extremely efficient, free and open-source instrument to do this, by offering a stake within the community to the customers who contribute worth. We’re thrilled that builders working in several verticals – social, e-commerce, gaming – are recognizing that and are integrating Props into their apps.”

On YouNow, customers can maintain onto props as a way to improve their standing and affect on the location and to earn free items. Customers presumably need these items as a result of the extra items 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.

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