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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