PROPS Rize, the First Cryptocurrency Enabled Many-to-many Video Platform
Rize, a many-to-many interactive video platform, is the first application in the PROPS ecosystem. PROPS is an ERC-20 token used to reward the creators and contributors in the digital media world. Both Rize and PROPS are created by YouNow, a live stream video chat company with over 40 million users which sets them apart from those with very limited or none users.
We’ve been following Rize and PROPS since its fundraising and tried the private beta on Jan. And now Rize has recently released its beta version to the public — downloadable at https://rizeapp.io/.
What Rize does?
With Rize, YouNow is challenging the rules of today’s live streaming platforms. Everyone is live and encouraged to communicate. And everyone — not just a few special partners — is recognized for their participation. Join the movement. We’re excited to build the future of social media with you.
YOUR SPOTLIGHT: You can easily join your friends and favorite people live on stage. Chat and engage with your community as you’ve always wanted to.
YOUR CREW: Meet and add friends with a touch of the screen.
YOUR WORLD: Watch and experience broadcasts while hanging with your friends on video.
YOUR RESPECT: Send your friends gifts to show appreciation.
Let’s jump onto it
When you launch the app it shows you a list of the ongoing live streams in the order of trendiness.
You can join a stream as an audience, watch folks talking and select a broadcaster e.g. Casey to reward(thumb up or poops). The broadcasters can also invite you onto the stage.
Every audience can chime in and even reward each other.
Or you can put yourself in front of the camera, being solo or invite others to join you.
Where the crypto?
PROPS are distributed to Rize’s contributors through a daily Reward System based on a formula that calculates the daily value of each user’s contribution. With the upcoming PROPS wallet, users can exchange the daily earnings immediately to fiat or other cryptocurrencies.
Users can also choose to HODL the PROPS, which can be used to -
- Gain premium access to the features and content that are exclusive to token hodlers.
- Promote their own content or other content they like.
- Vote on platform rules and guidelines.
- Indicate the elevated status.
For the developer community
The Rize Developer Extensions provide a rapid deployment infrastructure, while minimizing development costs. It gives developers immediate access to a user base, with all the complexities of infrastructure, payments, token earnings and community trust and safety management taken care of.
In the white paper, they even gave five very practical and straightforward use cases that leverage Rize and PROPS ecosystem. And honestly these are super cool and I’d be personally loving to try them.
Karaoke
Watch streaming media with virtual hosts
Voting on a talent show
Social game
Auction
What people say about Rize?
Great app to have fun discussions with people on! It’s like a super interactive Skype call! There is a lot of potential for where this app can go and I’m super excited to be apart of the Rize family
Verdict
Rize is one of those players who test the crypto water with its existing team, product and user base. And live streaming is their first attempt to tokenize in the digital media world. It is a small or even trivial move as we can tell blockchain and crypto aren’t playing significant role in Rize at this moment. But one may argue that this is the way to really gradually expose the mainstream to the crypto concept. The concept behind PROPS, to better reward the contributors, can be of enormous impact to the economy with the potential extension from digital media to digital everything.
