The Commission on securities and exchange Commission (SEC) approved the allocation of 187 million tokens Props between content creators and users streaming platform YouNow, for the internal activity with the aim of influencing the extent of their involvement. This decision the Agency has taken in accordance with the position of «A+» reports TechCrunch.
So, the tokens will allow people to generate reputation, earn the local currency Bars to support content creators, get access to exclusive gifts and most importantly — to provide a financial stake in the future of the platform. We will add that at the time of writing, users have purchased Bars worth more than $70 million.
Today, we’ll be launching YN»s most powerful tool: Props. The more Props you earn, the more in-app perks you could get—like a financial stake in the network—and the greater impact you can have on YN. Get the newest version of the app, and read more: https://t.co/4yuKUUJ5ik
— YouNow (@YouNow) 11 Jul 2019
The initial price of a token is $0.1369, but in the future the demand may theoretically affect growth. This should motivate the holders of Props to develop the platform.
However, it should be emphasized that the tokens cannot be exchanged for Fiat money, but they can be passed between different wallets and applications. To date, four applications have added support for Props, including xSplit. However, YouNow is already working on the Props listing in alternative trading systems (ATS).
According to the media, YouNow cooperated with the SEC during the two years before to permit the distribution of tokens.
It is worth noting that last year the owner sold the tokens for $22.4 million to large investors like Union Square Ventures, Venrock, Ze’ev Ventures and Comcast Ventures. Then the daily volume of transactions within the digital economy YouNow estimated at 60 million.
We remind that the YouNow signed a partnership agreement with a supplier of decentralized data storage Storj Labs.
A day earlier, the SEC approved tocancel Blockstack to $28 million in accordance with the regulation «A+».
The SEC approved the holding of licensee Blockstack at $28 million Is the first such case in history