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ICO Insight: Featuring PROPS by YouNow

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Props by YouNow Transcript


Adi Sideman:

PROPS is a decentralized ecosystem for media applications. It provides developers a new many-to-many video technologies allowing them to program any kind of participatory and interactive social video applications. Think about anywhere from education to auctions to game shows, reality shows, anywhere where you have people interacting with each other, virtual worlds, and you can build using PROPS any kind of user experience that leverages that kind of video technology.

CoinList is a great platform, highly respected. We were delighted to be the third token to be offered on CoinList after Blockstack and Filecoin. Obviously, from a regulatory standpoint, it's totally compliant, and it was very exciting for us to be chosen to be on CoinList and also to reach the investors, the great investors, on CoinList. We had a lot, and still have a lot, of unaccredited investors who are very, very excited about what PROPS is doing, and we were very fortunate that Republic Crypto, which is a sister company to CoinList, was able to offer the token to their users. Within about an hour and a half, the whole thing was sold out. The website crashed. That was quite rewarding. Well, I think that because of regulatory reasons, there was a small cap in terms of how much Republic could sell to their users. That was part of it. Also, over the past eight months, we have amassed a Telegram list of close to 9,000 followers and an email list of over 10,000 followers. Everybody wants to be part of the project, which is great. We're very grateful for that.

Today, our company, YouNow, has about 40 million registered users who are already using our platform. With Rize, we'll be introducing that community for the first time to a cryptoeconomic product. They will be rewarded with PROPS tokens. There's a lot of excitement over a project that is actually launching a real-life mobile platform that is driven by cryptoeconomics, and that is being seeded by a community of millions. We're really excited, and we're launching in February.

I think we're going to see a lot more companies, established companies, tapping into the blockchain technology and tapping into cryptoeconomics. I think Kodak was a great example, and we're going to see more and more of that now that more business people, more developers, are familiar with the power of cryptoeconomics and blockchain. I think we're going to see a lot more pre-sales and a lot less retail sales, specifically because of the regulatory environment, which is right. In a way, that is how we did it, and we're very, very excited that we were able to garner such interest in our pre-sale. In the end of the day, it takes a lot of effort to build a cryptoeconomic platform, and sophisticated accredited investors are the perfect backers for such projects. I think we're going to see more of that.

I think what we're going to see is a lot more pre-sales being done and less retail token raises. I think that sophisticated accredited investors are in a perfect position and have the appetite to back quality crypto projects and help bring them to market. We were certainly very grateful to have the sophisticated accredited investors provide over-demand for our pre-sale, which became our sale. We think there's going to be more of that and less retail sales.

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