I’m going to keep this recommendation brief because this token sale (ICO) opens tomorrow morning, Tuesday, December 12.
It may sell out quickly because there is a $1.07 million cap. So if you are able to, I recommend acting quickly on this one. (If you don’t get in on this one, don’t worry. You’ll have an opportunity to buy it on an exchange later, and we have plenty more high-quality deals to come.)
You will be able to fund this deal using a credit card or by a debit from your bank account. So there’s no need to send cryptocurrency, as is the case with most ICOs.
Brief Overview
Props is a new cryptocurrency and platform built by the team at YouNow. YouNow is a social video-sharing site. It allows people to chat, sing and watch other videos together.
YouNow will be leveraging its large base of 40 million registered users to give Props momentum from day one.
Already within the YouNow community there are more than 62,000 microtransactions in digital currency per day. This seems an ideal community from which to launch a new cryptocurrency.
Props is a new platform for building decentralized video applications. The network will be powered by the Props cryptocurrency. Users can use Props to promote their videos, gain access to content, reward creators and more.
The Props team has built an application called Rize as the first example of what can be built on Props.
Here’s an excerpt about Rize from the Coinlist Props page:
| “Rize is a many-to-many social video app. It leverages PROPS video infrastructure, and enables users chat with friends in real time, engage with content creators and watch linear content together. Rize will be seeded with the YouNow community and launch before the public token distribution.” |
The YouNow team has proven themselves to be extremely talented application developers, and Props is the next step in their evolution.
I have been waiting for a deal like this to come along. YouTube is becoming a heavily censored platform, and a decentralized platform like this is badly needed.
YouNow has attracted investment from some of the top venture capitalists in the world, including Union Square Ventures. Video sharing is a huge and fast-growing market, and Props aims to build a platform to rival YouTube.
Props is built on top of the powerful Ethereum network, which should give it the scalability and reach to take this ambitious project on.
Before the deal goes live on Republic, you can read more about Props on the Coinlist offering page. (Note: You cannot invest through Coinlist. The deadline has passed, and it is for accredited investors only.)
We will be investing through Republic Crypto, as described in the “How to Invest” section below.
The Deal
Minimum investment: $100
Maximum investment: $2,000
Props is offering 20% of the total coin supply in this offering. There will be no more than $25 million raised total. (Most of the offering will go to private accredited investors through Coinlist.)
Here is a breakdown of how the tokens are being distributed:
 |
The tokenomics of this deal look quite good.
Users will be incentivized to create great content because they will be rewarded with Props. Advisors and other insiders cannot sell their tokens right away and are subject to a three-year vesting schedule.
The foundation will retain enough of the supply to keep funding development for the foreseeable future.
If Props becomes a leading video platform, demand for the cryptocurrency that powers it should be very high. Advertisers and users will be the initial user base, but if it becomes popular enough, the cryptocurrency could even take off outside the platform.
How to Invest
This deal is hosted by Republic Crypto. We know and trust this platform and have thoroughly vetted it.
Please note, The Republic Crypto website is getting a lot of traffic and could be down when you try to access it. If that is the case, give it a few minutes and try again. It will be up and running soon.
First, you’ll need to get registered for an account at Republic.co. Do that by going to republic.co/register.
Once you’re registered and signed in, and the deal is live on December 12, 2017, go to the Props deal page at republic.co/props. (This will not be live until Tuesday morning.)
Click “Invest.” You will be given two options:
- 20% discount: 80% of your tokens will need to be held for a year, and 20% will be able to be sold immediately.
- 0% discount: You will have the immediate ability to sell your coins once distributed.
I recommend choosing the first option, but it is up to you.
Your tokens will not arrive immediately. Token distribution will likely take place in early 2018. You will need to provide an ERC-20 (Ethereum-network) wallet address, and this will be fully described once you invest on Republic. You don’t have to provide this until after you invest.
Risks
This is a high-risk, high-reward investment. Demand for the token will depend on the success of the Props platform. Do not invest money you can’t afford to lose.
I believe this deal offers an excellent risk-reward balance.
Good investing,
Adam