Own, a new social media app, aims to tokenize the creator economy

With Telstast Deadline Now just two days away to sell its US operations, a new decentralized social media application launched its beta to the public on Tuesday.

Own Last Tick To grow up, not just for short videos, but also for text posts and images as well as direct messages you want to expect a swimming feed.

However, the goal of the new application is to disrupt the market using blockchain technology and a token economy. Most significantly, the content manufacturers of the app can earn income without any minimum requirement for the followers of the followers.

The app was developed by Amir Cultak (CEO) and Katia Zaitsev (COO), who had previously co-founded the Web3 Company LexitThe Significantly, the app was co-built by Sara Mick (CCO), who had experienced working in Major Dating Apps Tinder and Bamboo.

The original highlights include $ its own token, which is awarded by manufacturers based on video bugging and is fully trade. The Base Layer 2 blockchain does its own work by ensuring secure transactions and ownership of the content.

Cultak believes that it will be a game-manager for manufacturers, especially since they earn token irrespective of their position.

“Most manufacturers in the world do not have access to cashing on main social platforms only because of their position. With ourselves, we have created a system that levels the playground and expose the possibility of real earnings for worldwide manufacturers,” he told TechCranch.

Cultak has added that a portion of the cash income of the platform is used to buy its own token from the exchange to distribute manufacturers. “We are Toking the Creator’s Economy in a way that gives the Creator a reward when creating a series of purchases for tokens in the open market, which contributes to long-term prices resilient and sustaining,” he said.

The reward of creators with app-token has become a general practice, especially an example in the outside region of the United States ShrimpA short-form video app that has attracted more than 180 million users in India.

Other forms of cashing include tipping, brand sponsorship and selling items in their own stores (version of the app application of Tikatok Shop).

The app promises that manufacturers can earn 50% more than other platforms. Specifically, in the case of tipping, only 20% of its revenue, where tickets take 50%. For sponsorship, Creator holds 90% of the earnings, only 10% owned. Creators benefit the most from their own shops, with only 95% of the revenue, it takes only 5% of their own.

The cashing features with token are expected to be available at one time in the third quarter between July and September. Meanwhile, its own shop is expected to roll out as a beta at any time between October and December.

Another earning stream is content licensing. Each content has been proven to ownership and source, track on the blockchain, allow the creators to maintain their rights by licensing their content. Thus, for example, Creator can re -sale their contents in brands for use in marketing promotions and earn 90%, while it takes 10% cut.

The ranking system is also an interesting feature. In the process of reminding a platform like Reddit, upvotting or downvotting posts have the ability to interact with the content by pressing up or down arrows by posting upvotting or downvotting. Manufacturers who get a higher number of upvops can climb on the leadership, gain more exposure.

“The ownership of your content, consumer agency, equal salary of the global, equal opportunity to viral, meaningful connection and self-exploration and fair pay is topped to correct the current problems on social media,” Mick told Techchen. “Without supporting higher platforms and high expectations of the app’s skills for these manufacturers, you are the end of their loyal fans.”

Own now available free of free The App Store And Google Play StoreThe The company has claimed that there are about 40,000 people in the waitlist.

To today, startup has collected more than $ 5 million from Sara Mick, Michael Turpin (Transform Ventures), Saba Capital, Base Spin Capital and Stoca Global.