With the Tiktok deadline selling its US companies now just two days away, a new decentralized social media application began the Beta to the public on Tuesday.
Own It is the latest alternative to Tiktok’s appearance, with an aggressive flow for not only short videos, but also text posts and images, as well as other features that one would expect, such as immediate messages.
However, the new application aims to disturb the market using blockchain technology and a symbol economy. Specifically, content creators in the application can earn revenue without minimum requirements for the number of fans or counting after.
The application was developed by Amir Kaltak (CEO) and Katia Zaitsev (COO), who previously founded Web3 company Vocabulary. Specifically, the application was also created by Sarah Mick (CCO), which has experience in large Tinder and Bumble dating applications.
The key points include its own $, which is rewarded to creators based on video engagement and are fully marketable. His own works in Base 2 Blockchain 2, ensuring secure transactions and content ownership.
Kaltak believes this will be a player-player for the creators, especially because they win chips regardless of their location.
“Most creators around the world do not have access to the creation of revenue on large social platforms simply because of their location. With their own, we have created a system that imposes competition and opens real profits for creators worldwide,” he told Techcrunch.
Kaltak adds that part of the platform revenue is used to buy its own brands from exchanges for distribution to creators. “We are tokenizing of the creator’s economy in a way that rewards creators justly, creating a consistent demand for the signal in the open market, which contributes to the long -term durability and prices sustainability,” he said.
The reward of creators with in -application brands has become a common practice, especially in areas outside the US one example is StingA small video application that has attracted over 180 million users to India.
Other forms of revenue include overturning, brand sponsorships and selling items in its own store (version of the application’s Tiktok store).
The application promises that creators can earn up to 50% more than other platforms. Specifically, in the case of overthrow, its own only 20% of revenue, while Tiktok lasts 50%. For sponsorships, creators keep 90% of profits, with only 10% holding. Creators benefit more than their own stores, maintaining 95% of revenue, while their own get only 5%.
Revenue creation features, including signals, are expected to be available at some point in the third quarter, between July and September. Meanwhile, his own store is expected to be released as a beta sometime between October and December.
Another revenue flow is the content licensing. Each piece of content has proven property and origin, monitored in blockchain, allowing creators to grant permission to use their content while maintaining their rights. Thus, for example, creators can resell their content to brands for use in marketing campaigns and earn 90% of revenue, while his own gets a 10% reduction.
The ranking system is also an interesting feature. Viewers have the ability to interact with the content by pressing the arrows up or down to vote – turning or degrading positions in a way reminiscent of platforms such as Reddit. Creators receiving a larger number of upvotes can climb the leaderboard, gaining a larger exposure.
“Ownership of your content, consumer service, global equal remuneration, equal opportunity to go viral, make meaningful connections and empower people through self-expression and fair remuneration are at the forefront of correction of today’s problems.” “Without higher platform support and higher expectations for the ability to apply for these creators, eventually make a bad service to their loyal fans.”
His own is now available for free on App shop and Google Play Store. The company claims to have about 40,000 people on the waiting list.
To date, the start has raised over $ 5 million from Sarah Michael Terpin (Ventures Transform), Saba Capital, Base Spin Capital and Stoka Global.
