Social media sensation, Youtuber Phillip DeFranco is again creating waves in the crypto world by being a major investor and working with Props (owned by popular mainstream broadcasting platform YouNow). It seems DeFranco has becoming more and more interested in the cryptocurrency space and is using his massive influence (over 2 billion views on Youtube and 1.6 million Twitter/Insta followers) to help promote projects. Just last month, DeFranco's favorite coin was Basic Attention Token BAT which he urged fellow content creators to check out. In the theme of decentralized platforms that are created with alleviating some of the problems the content creating industry is facing, Props works as a decentralized video-streaming platform.
Phillip DeFranco has also stated, "I'm talking about this because it's something that I believe in, I actually plan on using it. It's not a cash grab for me" when explaining why he's promoting Props to his 6 million YouTube subscribers.
The Props ecosystem will use its new cryptocurrency PROPS, which are in essence "likes", but with monetary value. While Youtube and Periscope users give likes and hearts to show approval of content, there really is no value behind the gesture outside of ego and shares. With Props, live stream broadcasters and video creators can earn money while viewers can show support using a decentralized platform, cutting the middle man out. Props can be used to buy virtual gifts, cashed out for real money or traded, or even just held by users speculating on its future value. Props will be initially used on the Rize app, the first live-streaming, video dApp on the Props platform.
In launching the PROPS Ecosystem, the YouNow team continues to pioneer video networks via an open video platform and an ecosystem with a decentralized economy. The PROPS Ecosystem will benefit from YouNow’s millions-strong user base and creator community, a new many-to-many video technology and a 40 person team with notable video and virtual economy expertise.
Decentralized networks and cryptoeconomic business models offer opportunities to build new networks that align the incentives of participants, enabling fair value sharing and empowering community ownership and governance of platforms. The next crop of successful digital networks is likely to come from networks enabled through decentralized, economically progressive and open source methods.
The Props project have completed their ICO phase and are in the process of distributing PROPS tokens and getting listed on major exchanges. The Rize Live Streaming video app is scheduled to launch February 23rd and will be available in the Google Play and Apple iOS app stores.
Rize App
Props Project
Phillip DeFranco Youtube
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I have heard a lot about Props from the very early stages, I immediately understood that their existing audience would make them a real powerful contender for the future of social networking but I didnt personally invest because I was already deep into the Steem train.
I think they can co-exist, because as I understand Props is really just a social networking, chat app, that enables content sharing in the form of small snippets, which are then either "liked" or not, and the likes garner their new crypto token.
That will do well but my attention and time is so focused on the future of this platform. Steem can really be gigantic.
I was posting today about how 3 months ago we had 300,000 fewer users on Steemit, from about 450,000 to today 775,000-ish. In that time we have seen the price of steem move from 0.80 cents to $4.20 USD. that is about 5 times the value, and that value increase coincides with a user increase of about 60%.
What will Steem be worth when we get another 60% increase in users, 1.25 million users? $10, $15?
Exciting.
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Yes I believe they can co exist as well, I see steemit more as a written content platform and Rize as live video streaming, chat rooms, and short video clips platform. The future of social networking is definitely growing and the new decentralization standards will allow many different platforms to flourish instead of the same 3-4 who are currently controlling the narrative. Information and user created content will be more transparent, available, and powerful in the next coming years. Thanks for your thoughts.
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I like your writing. Have an awesome night!
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