Bringing the Ownership Economy to today’s apps

Power users — not companies — drive most of consumer internet. They are social media’s content creators and curators, Uber’s drivers and car suppliers, Airbnb’s hosts and real estate investors, etc. Users consuming these products pay for these networks to exist. Heck, individuals volunteering their time — not companies — write most of the open source code on which these networks rely. So, why don’t users own any piece of these networks?

Take Snapchat, for example. Millions of content creators who turned the app into the behemoth it became didn’t get any direct…

Entrepreneurs can wait for mature infrastructure to build consumer-facing crypto apps, or they can leverage what’s available and build some of the missing pieces themselves.

The prevailing thesis in blockchain is that we are in the infrastructure phase. In short, the thesis says that Web 3.0 infrastructure is not yet in place for effective consumer-facing apps to evolve. The compelling logic compares this to the way Instagram or Uber could not emerge on your old flip phone. These apps really needed the infrastructure — iPhone-like camera/GPS, connectivity, UX and general smartphone ubiquity — to catch on. But our experience building Props exemplifies why this narrative of a linear-progression and dichotomy between infrastructure (often referred to as “protocols”) and apps, as well as the overarching phases…

Will blockchain’s real-world applications live up to market expectations in 2018?

This past year the broader tech community has become increasingly convinced that the impact of blockchain and “money as code” on society is going to be fundamental. Crypto brings the promise of breaking central banks’ monopoly on money. It threatens to reshape the organization of the workforce. It currently seems like one of the only ways to disrupt GAFA’s oligopoly on the internet (I finally feel comfortable using “disrupt” again…). And the list goes on.

However, it’s still hard to find popular implementations of blockchain-based products that are useful…

As the blockchain space continues to evolve, its growing impact across multiple industries is becoming increasingly apparent. Just like the internet impacted different verticals over time, we expect to see blockchain impact different aspects of our lives in a myriad of ways. Digital media will be among the first to evolve, because it needs to.

However, it would be too simplistic to believe that all decentralized networks will emerge following the same evolutionary path. Some will “start from scratch” while others will be coming from existing services starting with scale. Building a distributed computing platform serving engineers that create decentralized…

Last week we announced Props, a new cryptocurrency used to power video applications and equitably reward the users, creators and developers that make up digital media networks. We also announced the Rize video platform, the first Props-powered app, which will enable developers to leverage our open, many-to-many video technology. The ecosystem will be seeded with YouNow’s community of millions of users and thousands of influential content creators, who already take part in a two-sided marketplace powered by a (non-crypto, centralized) digital currency in which creators earn. …

Yonatan Sela

VC @SquarePeg, Co-founder @PropsProject . Ex: @YouNow , @Venrock , @Wharton , @Tvinci (acq. by @Kaltura ), @BCG . Hooked on electronic music, poi & tahini

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store