PROPS Project For Investors #5 – What Is The Rize App? (Software Testing) – By Ben Perper

All right, so previously we have the YouNow.com platform up. So, now can you walk our audience here the new version that upgraded the new evolution of YouNow.com calm?

So what is this called? Ok, so this is the rise app right and right now similar to YouNow which we just saw which was watching Nigel broadcaster.

There is one broadcaster to the whole audience in the chat but immediately they’re different and noticeable about this is that the broadcaster can bring multiple people upon the stage with them and then everyone here in the audience is actually live so I can click on any of these guys join in a group with them, send them a chat, send them likes, so it really breaks the walls of interaction.

There are more people on the screen, more people can interact in the audience. The broadcaster mic here can drag people up on the screen and so they kind of all these different layers of interaction.

Now what’s you’ll notice here is a gift and we just went through that on YouNow in the sense of someone just use a virtual currency that they’ll be able to pay for or earn for certain actions and send gifts and that turned into like so you can see actually here now is 40 likes up now a fourth person is on the stage right.

And so, Mike is the main broadcast I guess the room owner, right? Now yeah and so he’s invited all these folks up with them but he’s not the only one earning likes and money. Everyone here can also earn those likes and currencies and social currencies, so it’s much more interactive, it’s much more open for anyone to participate in the whole longtail.

Okay, so in the previous platform on YouNow or any social media platform there’s this for three key players in every platform, right? You have the platform creator whereas your team and then you have the content creators people like us who go on the platform that creates content like Mike. Right now he’s creating content.

And then you got the content consumers which are the viewers where the subscribers or her fans. So on the previous platform, you’re saying that only the content, the platform creator and the content creator are the only ones that benefit from the platform finance?

Because it’s a one-to-many I come on as a broadcast in the old version and people can chat, but that I’m in the audience, I can’t earn likes, and I can’t earn money, and I can’t kind of get that social cred that you can’t hear.

That’s just one of the many differences just for the interaction design. Before you ever have this chatbox here? We do still have one so I can say hello to Mike and you know, if we had our volume on we could he would obviously respond so we’ll be having chats kind of coming through here. And this one stresses is an alpha all these designs are you know, preliminary and are changing at this very moment.

So, we’re just looking at the functionality we kind of don’t look dissimilar. So, the color the design will probably be changed with the similar functionality of many people in the stage, everyone lives in the audience.

There are really responsive many-to-many connections that we’re going this new technology that we’ve built is still like you know, the core piece of it. Then there are some more gifts and he’s getting more likes and more gifts right now.

And so you know and then, so what’s really different about this app though not just this crazy interaction and found a new technology is a fact that now in the old world, users would spend Dollars to buy virtual currency and then broadcasters would earn Dollars.

Now in this new world, this currency that’s spent in them. These guys are rewarded in our new token props. Just so that for the audience and outside the US yeah it may not know what the word “props” mean.

So on the streets in America, the word “props” like if I give you props that means I’m giving you acknowledgment, giving you credit for something you said or you did. So I’m giving you props. So the way I give you mad props that means I give you large props, just dealer said. So that’s what the props mean? Right.

And then it’s also the name though of our tokens. All right so before we use gold bars for users to buy in the store and then send it for gifts, and then those broadcasters would earn a slice of whatever was spent in the broadcasts. Essentially now, in this world you know, we want to remove ourselves as a middleman so there is no slice they’re earning.

We want all our broadcasters and creators not just broadcasters again. Anyone in the audience is live, anyone can earn likes. Anyone that’s creating value for the platform which we kind of measure with watch time or with inviting people, basically grow in the platform can be rewarded and then we’ve rewarded in props.

So instead of being rewarded in Dollars, users can be rewarded in this token and with this token, if they’ve wished they could convert to Dollars or Bitcoin or Ether or whatever they prefer.

Or they can also hold on to it for some great, important utility inside the app. Okay, so by switching it from, so what you guys are essentially doing is you guys are replacing the YouNow gold bars with the props tokens because now the proper tokens can be sent to these changes and convert into US dollars which has a lot more back.

So, we’re essentially replacing only limiting a tiny fraction of people earning US Dollars with letting everybody earn props so it’s the earning mechanism.

And then what you can do with that balance is then you can convert that back into either coins to use for the gifts. Or you can hold it what’s very important is that you hold props if because you’re a prop balance will unlock features for you.

It’ll give you power for influence on liking other content you like so the curator rewards. It will give you very importantly a trending boost, so we saw on YouNow the importance of training booths for bringing a new audience in.

So it means very important for those that are earning props that want to be successful. One point you made offline, you can actually compensate the longtail? Absolutely. You have previously said you have to register with you guys and actually sign a legal agreement where you can get paid on YouNow in props. You had said that now everybody can get paid because it’s now a token they can just accumulate and take possession of.

Yeah, exactly. So I mean it’s a tiny sliver right now of broadcasters on YouNow are earning. I mean there are thousands I don’t wanna say tiny and there are thousands of thousands of influencers and partners we have agreements with. That or any money but the law, it’s relatively in our 40 million users install base. It’s very small. People so actually are earning anything.

And they have to be on stage and broadcast to do it whereas now I can show up in the audience and I can just send likes or chat with other folks and I can earn props without ever relieving me on stage. For instance, right now if you can see down here, I’ve joined a group chat with my friend Angel and so now we’re both watching this together.

We’re seeing the screen but we can interact together and we can have this social experience. There are all these more connections that are available here in this app and I can even click on him and I can give him likes.

Whereas before in previously you can only give likes and gifts to the broadcaster, right now you can give it to other audience members? Exactly. And we can interact with the partner before you were sitting there by yourself watching a broadcaster.

Now I can drag anyone in this audience if they accept my request into this can do this chat, right? So Angel is now dropping all these are the likes on me and we’re just setting love back and forth here, right? So we’re watching together.

Yeah, we got a little bromance going and we’re watching it together. We can chat. What’s up angel can you hear me? Yeah. Always send to me gifts so that’s good, he’s a quiet type.

And so there’s a G, now we see our CEO is up on the screen there and so you’ll notice that the mechanisms for forgiving in revenue are very similar in the sense that I can now click on a D. Well, someone else is already giving him a gift.

And so I can click on anyone on stage I put anyone in focus and it brings up a gift trace similar to the ones we saw on YouNow. They’re different prices for the gifts and I can send these small ones.

You just kind of go up the side you’ll notice they’re just kinda trickle-up aside or I can click on Mike and I want to give a beer to Mike that goes on the screen. Oh, I don’t have enough coins but you can see now that Mike has dragged me up on the stage.

Then now I’m part of the group chat here and I see D a fearless leader and Mike he’s still owning the room. Well, Mike has 150000 likes right now.

Mikey’s gonna earn a lot of props tomorrow. A D is trailing with only 5 cows. There we go now getting some love I only have 100 so I’m not doing so well but also everyone is looking at my chin. Here we go.

All right, so still chill out 15K there we go some catching up I’m already passed the D. The D right now is in California so it’s early he’s checking in from his car it looks like.

So let me ask you this. I noticed that things are happening really fast and yeah time there’s like no language which we’re video content creator so that’s always like a really annoying factor for us.

And you’re able to have it here in real time it seems like Mike is drunk. When I could just drag people up and down, Mike can just drag someone in and out just to show if we can on the screen how quickly.

Okay, so how many people can you have in here? A hundred thousand, ten thousand, unlimited. But obviously you’re limited by the size of your screen before you can bring up on stage. We are currently yes.

And so you know right now but as we as we’ll talk about and it probably soon. Is that we’re gonna make this app extensible for different types of use cases?

So different rooms might have different abilities to bring more people on stage, make it smaller and dozens of people. I can see that do you have an iPad or a tablet version because I could see the extra real estate. Yeah, absolutely right.

Your screen because is a really useful application. I also see this as being very useful like team meetings, right? Because this is more interactive as team meetings where you can bring up like the team leader can be here and then you can bring people up to present their portion.

But they need to say their presentation and then bring it back and bring up the next person. Or if you just add things like screen share and bike boarding, this could like GoToMeeting. There are so many use cases and where that we’re excited to build and you know, it’s really a key differentiator, the ability to kind of customize these things for all these use cases.

Okay, let’s say let’s talk about a real-world use case where let’s say a professional soccer player just scores a goal he can actually come onto the sidelines and then check his Rize app right here and see what his fans have to say about it and they write the goal that he just made for him. There are all kinds of interactions with any kind of live events like it’s a perfect match.

This is a two-way reward system now because the broadcaster if he likes what a fan says, he can actually ward that fan with the props. Right, which before he couldn’t even give him all kinds of love, you can also just help them get notoriety or followers by dragging them up on the stage and one swipe, well soon they’re starting to get likes and they’re earning probabilities.

Yeah, I could see if you could somehow pair this with action or total cam GoPros. Yeah, we love it. Good thing I really like about this is that the individual users never have to even know what cryptocurrencies are.

It is completely hidden. It’s like running underneath the surface. It’s great because we’re gonna be able to introduce this to millions of mainstream users and we don’t have to educate them right away as that’s just kind of a stumbling block right away.

If we force them to kind of do go through some of these steps, they can still come in watch their favorite broadcast or watch their favorite content, use US Dollars, the same gifts and get excitement and engagement. And then eventually we can gradually introduce them to that world which is important and it’s not something we take lightly.

We’re thinking very hard about the wallet experience of what it’s gonna be like. Let’s try to introduce these in mainstream guys and I think some other folks on my team will probably be talking to you about that.

Now talking about, I can see this is very good for live applications where you need to you know a bunch of people talking together live, is this recorded or is this on the recorder? I think eventually it could be right now and here in the alpha stage. This is the nuts and bolts and it’s not gonna be recorded but yeah we want to get to linear content, we want to get to video on-demand and these are all steps in the roadmap that we’re gonna attack.

This is also going to encourage like if I stock up like those of a soccer player, for example, I use right that means that if you want to join the conversation or the interaction then you need to be there live while he’s playing the game. This can provide a lot of value to an athlete or anybody that’s in that type of field where they can show their team that they have value by having thousands of followers or viewers on just their Rize app.

Yeah. I mean I think that’d be a good negotiating. You know, every time I play a game, I got a million fans watching me. I think if you’d give huge endorsements also from advertisers just for doing that. Oh, of course.

Yeah I mean like the followers or more varies you make, and or valuable you are, and the more you can kind of sell your fan ships. Okay, so now the props platform of the props network is the platform that you guys are building and then lower Rize apps but we see here is basically the first application or the first software that’s going to work on top of that platen exactly that prompts platform? Right.

So this is we’re launching the first app and we’re excited to do it with Rize and yeah and this will be the first one and we anticipate being able to you know drive a lot of user adoption of Rize, get the you know to prove the business model, prove the ecosystem get it going and then really open it up and you know other third-party developers and start building using props as well as third-party developers wanting to build extensions within Rize.

Like I talked about those customizable rooms and those types of ideas. There’s somebody a third party could even build a competitor to Rize? Yeah, it’s possible. You know and to may the best man win, right?

But basically, I said let’s say if Leon and I were broadcasting here and Leon’s a coder and developer. We always like to have like and in our Typhoon 30 Index that lists the top 30 currencies running in the market at this moment. So let’s say that Leon builds that app, and so every time we broadcast it runs across the bottom. Yeah, your room would have that.

And make somebody if another broadcaster, you could get royalties essentially from them using the tour. You can give it to free or if you like. You could you take it as a little piece of their rewards you’re building something. If you build something really valuable for the platform that all these rooms also want to use.

It’s fair to be compensated if you like it. Okay, so previously in the old version in the legacy system of YouNow.com system, if somebody wanted to build that, you guys would have to be them we’d have to do it. We couldn’t builder ourselves.

And we didn’t have an extensible way for it just for this room we would have to write custom code for that. And we make prohibitive effort obviously engineering resources. Or we just do it ourselves.

Exactly. Okay, there will be a yes. All right, this is gonna be sweet and so let me ask you I guess we can discuss the technology behind how you guys are able to do that in real time and so quickly.

And everything is moving like when I test there is it offline it seemed like everything was working you know, with no problem. Let me ask you this, right?

Yeah. So talk about how you guys look at us. You got what you guys were doing. Is that you guys are the first ones when you guys release the tokens? This actually is going to be released also, is that correct?

Absolutely. So anyone that participates in the token sale will have early access to our beta and so they’ll be able to download the app that day they’ll be on a whitelist and then they’ll be able to come in and start using it, start already and start playing with it.

It’s really gonna help us hone down the product as we continue to iterate and then eventually it will be open to our full community to the whole world as well as are YouNow users and really start to drive. So unlike most ICS we could say if you actually have a product the day you’re gonna launch the token?

Absolutely. For day one already production ready product and not years in the future but the same day that props is issued? Exactly.

Now that’s gonna put you guys out there in the forefront among all the other Cryptocurrency props. Because we’re here day one many of the projects even in the top 10, top 20 don’t have a product.

And then there are projects that we’ve invested in for like 3, 4 years now. That still does not have a song. So I mean like well this is crazy because you guys are actually gonna have this available on the day that you guys release that I mean that’s pretty phenomenal, right?

What else do our viewers need to know about this that are new to a live streaming video? I mean what are some of the groundbreaking stuff that you guys are doing here? That’s gonna be revolutionary here.

Yeah, so I mean I think we touched them a little bit earlier and but just the fact that everyone in the audience is live this entire many-to-many interaction the fact that we can drag folks in and out just lightning quick.

This doesn’t exist anywhere on our team is built that, right? And the fact that now the longtail participates in the earnings and the economic system is huge, this also doesn’t you know.

When you talk about the long term, at not just broadcasters anyone in the audience can. The small players, small guys yes small guys in the audience that you know don’t like to be able onstage in front of people they can still take part by exchanging value with watching together like what we just saw, right?

So there’s all kinds of use cases and there’s the roadmap is full of things we’re really excited. Can you pull up the gifting? Sure, absolutely. So, let’s just say that in the past, let’s say that you bought this gift right here, and you gave it to Mike.

Normally if I was a fan and I bought this gift to give to Mike, let’s say that gift cost me $100 USD of real US Dollars to buy, you’re saying that in the past you guys would keep 40% of that? Thirty percent, yeah 30 to 40 percent.

Then you would give Mike the rest, right? But in this new platform when you’re saying he’s gonna take the very minimum to maintain the platform, the majority of it is going to Mike? Right, we want to remove ourselves from that middleman, that taxpayer.

We want to remove ourselves from that situation. We want the creators to take as much as absolutely possible, well, cover it some transaction fees and those types of things.

That’s going to be huge. That’s got a huge game changer because if we’re fortunate enough that we made enough money from Cryptocurrency investing to where we make the bulk of our income comes from the Cryptocurrency trading and investing, but we know a lot of our fellow Youtubers, colleagues who they make the bulk of their income from broadcasting, right?

And right now because of YouTube cutting some of their advertising for some unknown reason we don’t know, now they can actually come in broadcast here and earn almost the majority of the income.

I mean the viewers are all ready to participate in that and come also. And so, what’s really great about is that it really also aligns everyone’s incentives because as these audience members as these broadcasters earn props, they really have a stake in seeing the growth of the platform, too.

So they’re gonna but we expect them to be more active, especially retain that every speck to monetize better because everyone is now working aligned at the same goal of platform growth.

So now, we’re sitting here talking about all the good stuff and all the fancy stuff that we see here from the legacy system into the new system and our audience is probably gonna be wondering like: “Hey, you know what are some of the risk involved but were some of the challenges that you’re going to be facing” .

So as the head of product development here on this project where you see some of the challenges in front of you for this project because if we only sit here and talk about all the good stuff and everything, Holly’s gonna say: “Hey, come on, man”.

There’s got to be something that there are some challenges that you guys must have run into with this so can you share that with us sure we don’t seem like reporters? I mean everyone knows that it’s not easier. As I research, this is a good sign. What’s bad? What’s the downside?

I mean I think the challenges that we face when we take this responsibility seriously is that we’re gonna be introducing a crypto token to lots of mainstream users who are really unaware what Okocha currency is.

And so there’s a lot of education involved there and I think we need to think hard about our UX and security, right? You know, a lot of people are familiar with 12 wordphrases or how to save a private key or how to create a wallet.

What exactly are Ether and someone I’ve everyone’s kind of heard of Bitcoin but some of these other ones, so there’s certainly an education that we take seriously and we’re working hard on formulating?

My colleague Peter’s actually our kind of our platform lead. This will be and you’ll be talking to him later and he’s thinking a lot about this wallet situation.

On day one when you launch, is there already a Cryptocurrency wallet in the app? Day one on the launch, you’ll be able to convert your props to Ether. So what are the keys in your phone? The keys are not currently on a phone? So where are they?

The money you would set up you’ll be able to move your props into my Ether wallet essentially and so you would set it up but the vision is to create on-device wallet which should be ready for public launch. If there are 2 days ones here, there’s day one of the sale which is all the investors get to take part. And there’s one that’s ready for more the mainstream users where we’re getting ready these types of it.

So you earn your props here in the app, but you don’t get the token through the app. You would have to go to I guess your website to go claim the props?

Essentially, yeah you can claim them inside the app that you’re claiming them to an external wallet on day one, but once it’s mainstream day one we talked about. So, like day one, you know investors they understand it and they’ll be okay and when we launch later in early 2018 is when we really are focusing on building a better experience.

So you do earn the tokens in the app, there’s gonna be a menu right close to them? That was absolutely what you guys will be seeing early designs of this when you talk to Peter and Olivia.

Awesome, alright I mean that’s all the questions that we have that we can think of. That was all the questions. Anything else that you want to share with our audience before we wrap it up here with you.

No, I mean I guess just said: “Hey. We’re really excited to come to check it out”. Add your name to the white list if you are sale participant you get it on day one and we would love to get feedback and join our telegram group and any questions you have we’re gonna be really responsive in the telegram room.

So let’s go make sure that we have this clear, right? So, if somebody’s interested in this project, they want to participate in it in the prompts project when you guys released the tokens and they want to purchase some of the tokens. Can you explain to the audience real quick exactly where they need to go and what they need to know?

Sure. So the first step is to go to propsproject.com, so it’s propsproject.com and there you can find more details about everything, about the whitepaper. So those P as in Papa, R as in Romeo, O is an Oscar, and P as in Papa, S as in Sierra. And then the word “project” dot com.

I say that because we always forget to put the stuff. That’s alright. That’s where you go to find out about, get the whitepaper that’s where you can go to put your email address in for updates and eventually where you’ll be going to register once we open registration. It also has a link to our telegram group which is really kind of a fun place to be. Right now, there’s a lot of activity, a lot of questions.

We have folks you know here at the office as well as just other exciting community members answering questions like yourselves. It’s a great place to get more data.

Cool, if you guys like this type of video and what we on the research that we do you know with our boots on the ground, the type of research with people like Ben on his projects, make sure you go to www.cryptocurrency.market/newsletter and sign up for our newsletter.

But most importantly, make sure that you guys go to the propsproject.com and should sign up for their newsletter also because that gets you whitelisted. So, thanks for watching this video guys and we’ll look forward to seeing you guys in the next video.

Learn more at:
https://propsproject.com/

You automatically get “whitelisted” if you join their mailing list or Telegram at https://t.me/propsproject

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