YouNow

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YouNow
YouNow logo.png
Founded 2011
Key People Adi Sideman, Founder and CEO
Products Social medium for broadcasts
Twitter @YouNow
Facebook https://www.facebook.com/younow
Website About
Blog Blog

YouNow is a live streaming video platform which allows viewers to tip performers with blockchain-based tokens. The company is backed by the investor and entrepreneur, Oren Zeev, as well as by the venture capital firms Venrock, Union Square Ventures, and Comcast Ventures.[1]

Props

The U.S. Securities and Exchange Commission (SEC) qualified YouNow's Props token for distribution under SEC Regulation A+ on July 10, 2019, the same day as it qualified Blockstack's token. They are the first two token offerings approved by the SEC.[2]

The name of the token, "Props," ostensibly derives from the slang term for "proper respect." [3] YouNow platform viewers show performers "props" by rewarding platform performers with Props.

While they may be traded among users and members of the public, all Props will be distributed for free by YouNow. According to the company's offering circular filed with the SEC, Props are to be issued to users of the YouNow app, including viewers to use as rewards to performers and content contributors as well as commercial partners of the company.[4]

Move to Algorand

In April 2020, Founder and CEO, Adi Sideman, said that Props was being moved onto the Algorand public blockchain. The streaming service had added so many customers that Props usage had stressed the Ethereum side-chain on which it was operating.[5]

References