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Own, a new social media app, aims to tokenize the creator economy
- Own, a decentralized social media app, launched its beta to the public with features like swipeable feed for short videos, text posts, and images, as well as direct messaging.
- The app aims to disrupt the market with blockchain technology and a token economy allowing creators to earn revenue without minimum follower or post count requirements.
- Developed by Amir Kaltak, Katia Zaitsev, and Sarah Mick, Own uses the $OWN Token rewarded based on video engagement, operates on Base Layer 2 blockchain for secure transactions and content ownership.
- Creators earn tokens on Own regardless of their location, leveling the playing field for global creators.
- A portion of the platform's revenue is used to buy $OWN Tokens from exchanges for creators, promoting buy-side demand and sustainability.
- Own offers monetization features like tipping, sponsorships, and Own Shop, promising creators to earn up to 50% more than on other platforms.
- Monetization features, including tokens, will be available in the third quarter, while Own Shop is expected to roll out between October and December.
- Creators can license content for additional revenue, tracked on the blockchain for proven ownership and origin.
- Own implements a ranking system where viewers can upvote or downvote posts, allowing creators with more upvotes to climb the leaderboard and gain exposure.
- Own app is free on App Store and Google Play Store, with nearly 40,000 waitlisted users. The startup has raised over $5 million from various investors.
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