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

With the Tiktok deadline for selling its American operations now just two days away, the new social media application launched its decentralization to the public on Tuesday.

OWN is the latest alternative to Tiktok to Enverge, and features a scrolling feeding not only for short videos but also text posts and pictures, as well as other features that you expect, such as direct messages.

However, the new application aims to disable the market by using Blockchain technology and the symbolic economy. It is worth noting that the applicants on the application can obtain revenues without any minimum requirements for the number of followers or the number of publishing.

The application was developed by Amir Kalak (CEO) and Katia Zetsif (COO), who have previously co -founded the Web3 Lexit company. It is worth noting that the application was created by Sarah Mick (CCO), which has experience in working in the main dating applications of Tinder and Bumble.

The main outstanding points include the distinctive symbol $ private, which is rewarded for creators based on video sharing and fully trading. OWN works on Blockchain layer 2, ensuring safe transactions and content ownership.

Kaltak believes that this will be a changing games for creators, especially as they earn distinctive symbols regardless of their location.

“Most of the creators around the world cannot access income on the main social platforms simply because of their position. With ourselves, we have built a system that focuses on the stadium and opens real gain capabilities for creators worldwide.”

Kaltak adds that part of the cash revenue for the platform is used to buy the distinctive icons of $ from the stock exchanges to distribute to creators. He said: “We symbolize the Creator’s economy in a fairly equivalent in a fair way with the creation of a fixed request on the part of the purchase on the distinctive symbol in the open market, which contributes to the elasticity of long -term prices and sustainability.”

Equipped creators with distinctive symbols in the application have become a common practice, especially in regions outside the United States, for example, CHINGARI, a short video application that attracted more than 180 million users in India.

Other liquefaction forms include transformation, brand care, and sale of elements in a private store (app version from the Tiktok store).

The application is that creators can earn up to 50 % more than other platforms. Specifically, in the case of transformation, only OWN takes only 20 % of revenues, while Tiktok takes 50 %. For care, creators retain 90 % of the profits, with only 10 %. Creators benefit more than private stores, while maintaining 95 % of revenues while OWN takes only 5 %.

Landing features are expected, including symbols, at some point in the third quarter, between July and September. Meanwhile, the OWN Store is expected to be launched as a house between October and December.

Other revenue flow is content license. Each part of the content and origin, followed on Blockchain, allows creators to license their content while preserving their rights. Therefore, for example, creators can resell their content for brands for use in marketing campaigns and earn 90 % of revenues, while OWN takes a 10 % reduction.

The arrangement system is also an interesting feature. Viewers have the ability to interact with the content by pressing the stock up or down to condemn their voices – hypotheses or reduce posts in a way that reminds us of platforms like Reddit. Creators who receive more young people can climb the leading painting, and gain greater exposure.

“Having your content, consumer agency, international wages equality, equal opportunities to go viral, make meaningful contacts, enable people through self -expression and fair wage at the forefront of correcting current problems with social media,” Mick told Techcrunch: “Without supporting a higher platform and higher expectations for the ability of the application for these creators, you eventually do taxes for their loyal fans.”

Own is now available for free in the Google Play application store. The company claims to have approximately 40,000 people on the waiting list.

To date, the startup has raised more than $ 5 million from Sarah Make and Michael Turbin (transfers), Saba Capital, Base Spin Capital and Stoka Global.