ICO Review: PROPS Project (PROPS) · • Produce content and get higher earnings from the content...

ICO Review:

PROPS Project (PROPS)

Decentralized Ecosystem of Video ApplicationsDecember 1, 2017

PROJECT OVERVIEW

What is YouNow?

2For additional resources, please visit www.CrushCrypto.com.Copyright © Crush Crypto. All Rights Reserved.

• YouNow, the company behind

Props, is a live streaming video

company founded in 2011.

• They were the first app to create a

two-sided virtual currency market

where users paid to buy virtual

currency and content creators

earned revenue from engagement.

http://www.crushcrypto.com/

PROJECT OVERVIEW

What is PROPS?


• YouNow is developing the PROPS

ecosystem. This new ecosystem will

enable users to access features and

content across a variety of media apps

while benefiting from the PROPS rewards

pool. This new platform will be seeded

with YouNow’s existing user base.

• They want to create a decentralized

network of media servers capable of

accommodating various use cases and

scale their many-to-many video

infrastructure.


PROJECT OVERVIEW

What is the Rize app?


• Rize, a new many-to-many live video platform, will

be the first app to be launched on the PROPS

ecosystem.

• Some use cases of the app include: singing

karaoke to a live audience, watching streaming

media with others in a virtual living room, voting

on a talent show, playing virtual games with

friends, and participating in auctions.

• The app will be available on iTunes and Google

Play after the token sale ends.


PROJECT OVERVIEW

The PROPS ecosystem



PROJECT OVERVIEW

Benefits of using PROPS


Publishers and content creators

• Produce content and get higher earnings from the content and communities they create instead of

being cannibalized by large media companies.

Developers

• Can create new media apps within PROPS or customize use cases within Rize.

• Developers get access to video technology and the shared user base in the PROPs ecosystem. A

Partner Rewards Program also serves as an incentive for them to build on PROPS.

Digital media users

• Can access features and content across different apps in the PROPS ecosystem and earn rewards.


PROJECT OVERVIEW

Development roadmap


2011: YouNow

established

Launch Rize mobile

app after token

distribution

Transition from C

Corp to B Corp

Expand use cases

and demonstrate

usability of many-

to-many video and

PROPS

Add additional

partners who will

be granted reward

tokens and

governance

privileges

Open source code

for Rize app

provided to

developers to add

functionality and

customize use

cases

Milestones Q4 2017 Q1 2018 2018


TOKEN SALE OVERVIEW

PROPS token sale summary

• Project name: PROPS

• Token symbol: PROPS

• Website: https://propsproject.com/

• Hard cap: $25M (public crowdsale ICO contributors own

20% of total token supply)

• Conversion rate: To be announced

• Max market cap at ICO (fully diluted): US$125M if hard

cap is reached

• Bonus structure: 20% discount during presale

• Whitelist: Registration ongoing

• Countries excluded: Iran, North Korea, Sudan, and Syria

• Timeline: Presale ongoing at Coinlist for accredited

investors, December 11, 2017 on Republic Crypto / public

crowdsale in Q1 2018

• Token distribution: To be announced

ICO SUMMARY


TOKEN ALLOCATION

50%

26%

20%

4%PROPS Foundation

Company, founders

and employees

Token distribution

event

Advisors

https://propsproject.com/


PROJECT OVERVIEW

Use of PROPS tokens


Sample use cases for Rize app

• Access to premium experiences and features.

• Users with more tokens may have an elevated status.

• Token holders can promote use cases or content they like,

or vote on things impacting the platform.

• Platform contributors such as content contributors,

curators and developers will be rewarded with the token.

• Anyone can use tokens to promote their own content.


THE TEAM

Who are the people behind PROPS?


Adi SidemanFounder and CEO

Yonatan SelaSVP Business Development &

Product Strategy

Eran KalmansonChief Technology Officer

Ben PerperDirector of Product and

Business Intelligence

Investors: Union Square Ventures, Venrock, Comcast Ventures, Chris Dixon, CoinFund, BlockTower Capital, Oren

Zeev, Notation Capital, Kryptonite1, Phil Defranco and Mind Fund.

Advisors: Jake Brukhman (Founder & Managing Partner, CoinFund), Marco Santori (Partner, Cooley), Nick Tomaino

(Founder, 1confirmation; previously Runa Capital, Token Summit, Coinbase), Doug Petkanics (Founder, Livepeer),

Manuel Araoz (CTO Open Zeppelin, Decentraland) and Jim Louderback (CEO, Vidcon).


OUR THOUGHTS

The opportunities


• There is a solid team with relevant experience in

place. They were able to build YouNow to a large

platform, so it shows their execution capability.

• The project is able to leverage off YouNow’s existing

community, which can drive adoption of the

ecosystem right off the bat.

• Props ecosystem allows third party apps to integrate

with it. It could have new/different use cases as more

apps are added to the platform.

• The whitepaper is detailed and was reviewed by

experts in the crypto space. This shows the effort that

was put into it and that the project is well-thought-

out.


OUR THOUGHTS

Our concerns


• There is a high inflation of circulating tokens

which would dilute the proportion owned by

ICO participants.

• Rize is going to face competition as video

streaming is a competitive space with many

established and deep-pocket companies

including YouTube, Facebook, Snapchat, as

well as other many-to-many video streaming

companies such as Blue Jeans.

• All the team members also work for YouNow

and have to allocate time between YouNow

and PROPS/Rize.

SUPPLY INFLATION(% OF TOTAL SUPPLY)


OUR THOUGHTS

What do we recommend?

For flipping: Positive.

• The project is backed by strong advisors and investors and has a strong market

awareness. It should have no problem reaching the $25 million hard cap with unmet

demand.

For long-term holding: Neutral.

• There will be a lot of tokens entering into circulation each year, meaning that the market

cap of the project needs to keep growing for token price to just break even.



ICO Review: PROPS Project (PROPS) · • Produce content and get higher earnings from the content...

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