YouNow Targets Online Celebrities With ICO Rewards

Blockchain, ICO News, Innovation, Investing | October 10, 2017 By:

Content creators will be rewarded for the size of their followings via an ICO planned by YouNow for its Rize service, a decentralized social networking site that spotlights musicians, video personalities and other content creators.

YouNow will distribute a total of $5 millino in Props – the name of their Rize token – to select creators with sizable followings on their site. The tactic, called the Community Rewards Program, will distribute the tokens in portion to the size of each creators following. YouNow boasts such online stars as Emma McGann, Brent Morgan, and Rudan Custodio. Together, they have 48 million views to date on the service.

Those content creators not originating from YouNow – including a sizable number that inhabit YouTube, Twitter, Twitch and Instagram – can still get in on the token grab. First, they will have to purchase Props during the November ICO for YouNow. Those with 10,000,000 followers will receive a 40% token bonus, 500,000 followers will receive a 20% bonus. The 50,000 level creators will receive a 12% bonus.

“Investing time into building your social networks with no return will be a thing of the past,” McGann said of Rize. “With Props, we creators have a personal stake in the platform we actually helped build.”

YouNow will launch Rize with one billion total tokens available. Half will go to the Props Foundation, a non-profit that will determine how future rewards are distrbuted. Additionally, 30 percent of Props will go to company executives and advisers, with 20 percent reserved for the public sale.