PROPS overview using the Feynman Technique
This post is one of a series of posts I am writing where I try to apply the Feynman Technique to a number of different crypto token projects. You can find the rest here. None of this should be taken as investment advice. They are just meant to be simple introductions to the projects.
PROPS is a platform for digital media. Initially, the PROPS platform will include an interactive video app called Rize and the PROPS token. The platform is being created by the same company that created YouNow.
PROPS is intended to be a better model for rewarding content creators, curators, and developers. Whereas the standard model of compensation for digital media is typically controlled by one entity like a corporation, PROPS will have no single entity controlling it and instead be managed by the users of the platform. Though initially the non-profit Digital Media Foundation will handle distributing funds for initial development of the platform.
The PROPS platform may consist of many different applications but initially the only application will be Rize. Each app can have its own functionality and rewards but will use the PROPS token as the primary reward currency. These tokens will then be able to be used to unlock additional functionality within apps or be used for other things like voting on future improvements to the platform.
The Rize app will be a broadcast style video streaming app where users can create their own spaces and anyone else can join. Users can reward others by liking their content and can then use their rewards for things like influence, promoting their own or others’ videos, and unlocking new features.
In addition, Rize will calculate daily rewards to be given out to users of the app based on the amount of time others spent on their content and the amount of interactions that their content generated. In the future, developers will also have the chance to earn PROPS rewards by building apps within Rize that anyone can use.
