Own, a new social media app, aims to tokenize the creator economy
Own is the latest alternative to TikTok to emerge, featuring a swipeable feed for not just short videos but also text posts and images, as well as other features you'd expect, like direct messaging.
However, the new app aims to disrupt the market by utilizing blockchain technology and a token economy. Most notably, content creators on the app can earn revenue without any minimum requirements for follower count or post count.
The app was developed by Amir Kaltak (CEO) and Katia Zaitsev (COO), who previously co-founded web3 company Lexit. Notably, the app was also co-created by Sarah Mick (CCO), who has experience working at major dating apps Tinder and Bumble.
Key highlights include the $OWN Token, which is rewarded to creators based on video engagement and is fully tradeable. Own operates on Base Layer 2 blockchain, ensuring secure transactions and content ownership.
Kaltak believes this will be a game-changer for creators, especially since they earn tokens regardless of their location.
'Most creators around the world don't have access to monetization on major social platforms simply because of their location. With Own, we've built a system that levels the playing field and opens up real earning potential for creators globally,' he told TechCrunch.
Kaltak adds that a portion of the platform's cash revenue is used to buy $OWN Tokens from exchanges for distribution to creators. 'We're tokenizing the creator economy in a way that rewards creators fairly while creating consistent buy-side demand for the token on the open market, which contributes to long-term price resilience and sustainability,' he said.
Rewarding creators with in-app tokens has become a common practice, particularly in regions outside the U.S. One example is Chingari, a short-form video app that has attracted over 180 million users in India.
Other forms of monetization include tipping, brand sponsorships, and selling items on Own Shop (the app's version of TikTok Shop).
The app promises that creators can earn up to 50% more than on other platforms. Specifically, in the case of tipping, Own takes only 20% of the revenue, whereas TikTok takes 50%. For sponsorships, creators retain 90% of the earnings, with only 10% going to Own. Creators benefit most from Own Shops, keeping 95% of the revenue while Own takes just 5%.
The monetization features, including tokens, are expected to be available sometime in the third quarter, between July and September. Meanwhile, Own Shop is expected to roll out as a beta sometime between October and December.
Another revenue stream is content licensing. Each piece of content has proven ownership and origin, tracked on the blockchain, allowing creators to license their content while maintaining their rights. So, for example, creators can resell their content to brands for use in marketing campaigns and earn 90% of the revenue, while Own takes a 10% cut.
The ranking system is also an interesting feature. Viewers have the ability to interact with content by pressing the up or down arrows to cast their votes—upvoting or downvoting posts in a manner reminiscent of platforms like Reddit. Creators who receive a higher number of upvotes can climb the leaderboard, gaining greater exposure.
'Owning your content, consumer agency, global equal pay, equal opportunity to go viral, making meaningful connections, and empowering people through self-expression and fair pay are at the forefront of correcting the current problems with social media,' Mick told TechCrunch. 'Without higher platform support and higher expectations of app ability for these creators, you're ultimately doing a disservice to their loyal fans.'
Own is now available for free in the App Store and Google Play Store. The company claims to have nearly 40,000 people on the waitlist.
To date, the startup has raised over $5 million from Sarah Mick, Michael Terpin (Transform Ventures), Saba Capital, Base Spin Capital, and Stoka Global.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
4 hours ago
- USA Today
You probably forgot about some of 2025's most viral moments. Here's a recap.
A recap might be in order. Between a 24-hour news cycle and a never-ending loop of social media trends, remembering what happened yesterday, much less at the start of the year could prove difficult. From American Eagle's controversial jeans ad and the ongoing Labubu pandemonium, 2025 (at least so far) has been chock-full of viral moments. In an effort to remind you, our readers, what some of those big moments were, we've rounded them up and recapped them (in case the train passed you by on one or more of these.) See some of the moments that perfectly capture the zeitgeist of 2025, at least so far. Americans say 'goodbye' to TikTok Before TikTok "went dark" for 12 hours in January, some of its American users had already prepared for the worst, issuing last goodbyes and posting heartfelt tributes in case they would never be able to use the social media platform again. Influencers, content creators and casual users shared memories and posted memes and for an app they said fostered a sense of community and belonging, in addition to income. The federal legislation that required ByteDance, TikTok's parent company, to the divest the app's U.S. assets, was designed to assuage national security concerns, i.e., fears that the Beijing-based company was sharing U.S. user data with China. Fortunately, for TikTok, President Donald Trump came through with an executive order that delayed the ban for 75 days so ByteDance could find an owner in the U.S. Trump has since issued three executive orders to delay the ban, with the most recent deadline being Sept. 17. The fate of the short-form video app now lies in the hands of Chinese officials, U.S. Commerce Secretary Howard Lutnick said, and they have yet to approve a U.S.-drafted deal to sell the app's American assets. If Chinese officials don't approve the deal before the deadline, and if Trump does not issue another executive order to delay the ban, TikTok could go dark again. What's the latest on a TikTok ban? There's just a month until the app could be banned – again. Here's where things stand. Gulf of Mexico? Gulf of America. Gulf of Mexico? More like Gulf of America, President Donald Trump decreed on Inauguration Day. The name change went into effect on Feb. 10, a day after Trump declared Feb. 9 as the "first-ever Gulf of America Day" while en route to Super Bowl 59. Tech giants Google and Apple moved quickly to honor Trump's order after the new name was formally adopted by the Geographic Names Information System. Trump's executive order ruffled more than a few feathers, most notably Mexican president Claudia Sheinbaum, who threatened legal action against Google and joked that she would start calling the United States "Mexican America" in retaliation. Kendrick Lamar brought the heat to Super Bowl LIX Between the fashion and the set list (featuring SZA), Kendrick Lamar's halftime show performance at Super Bowl 59 was one for the books. Not to mention surprise cameos from Uncle Sam, i.e., Samuel L. Jackson and tennis legend (Drake's ex) Serena Williams, who crip-walked onstage. Kendrick Lamar and Drake rap beef: What makes this music feud so significant? Within the span of 13 minutes, the Grammy- and Pulitzer-winning rapper dropped easter eggs, trolled Drake with famed diss trick "Not Like Us" and performed a total of 11 tracks (with stunning visuals and an ensemble, to boot.) Troves of spectators, including fans, took to social media to either react (live) and/or discuss all things related to Lamar's performance. But the fun did not stop there, as Lamar and SZA took "GNX" collaborations on the road for the Grand National Tour, which concluded at Northwest Stadium in Washington, D.C. on June 18. Katy Perry hate (space?) train Haters gonna hate. And Katy Perry, one of six notable women catapulted to the edge of space, got a lot of it. Because of billionaire Jeff Bezos' private space company Blue Origin, Perry and her crewmates got the chance to take a quick trip beyond Earth's atmosphere, complete with out-of-this-world views and a dose of microgravity. The internet, including fellow celebrities Olivia Munn and Emily Ratajkowski, were critical of the voyage, which some considered "out of touch," even a "bit gluttonous." The hate train, mostly aimed at Perry, continued through the end of the mission, which took place on April 14. Perry, for her part, did not comment on the controversy until weeks later, telling a fan who congratulated the "Dark Horse" singer on the opening of her tour, that the online world tries to make her a "human Piñata." "I take it with grace and send them love, cause I know so many people are hurting in so many ways and the internet is very much so a dumping ground for unhinged and unhealed," Perry wrote. Instant replay: Katy Perry, Gayle King, 4 other women head to space on Blue Origin launch 100 men vs. 1 gorilla debate Could 100 men defeat a gorilla in a fight? The hypothetical question sparked discourse (and inspired memes) across social media platforms for several days in late April. We, like everyone else involved, were just as curious about the answer so we decided to ask an expert. Tara Stoinski, president and chief scientific officer of the Dian Fossey Gorilla Fund, told us to think about the numbers. 100 men vs. 1 gorilla? Expert weighs in on viral debate Haunted doll blamed for New Orleans hijinks Annabelle was in the wrong place at the wrong time, or the right place at the wrong time. (Depends on who you ask.) The haunted "Raggedy Ann" doll, which served as inspiration for a horror movie of the same name, was minding her own business when the internet turned on her. Annabelle, on a multi-city tour across the U.S., was accused of orchestrating the escape of 10 inmates from an Orleans Parish jail and a fire that decimated a plantation just south of Baton Rouge, event thats coincided with her visit to Louisiana. Some were amused by the coincidence, while others, like the X user above, were certain Annabelle had something to do with it. Once the rumor mill gets going, especially on social media, its hard to stop, something Ghost City Tours learned quicky. Tim Nealon, founder of Ghost City Tours, told USA TODAY they had received death threats. Most of them came from people who were "absolutely convinced" that the company had something to do with all of the hijinks, Nealon said. "I did not think people were taking it seriously, (because) I kept seeing jokes about it on Instagram and TikTok," Nealon said. "But, I didn't realize people were out here like, actually thinking that this was legit." Ghost City Tours also released a statement on social media, writing that they while they were of the comments being thrown around, they could confirm Annabelle had nothing to do with the fire. In photos: Original 'Annabelle' doll of paranormal infamy visits Gettysburg orphanage Labubu craze Labubus are to 2025 like Stanley cups were to 2024. And the monster plushies, so popular it spawned a knockoff, are this season's fashion accessory of choice. The doll was designed a decade ago by Kasing Lung, a Hong Kong-born artist. The toy, part of "The Monsters" line, and other figurines are currently sold by Beijing-based toy maker Pop Mart in "blind boxes," a sealed package that contains a mystery toy, typically from a themed series. But the craze for Labubus began to surge in popularity months after Lisa of K-pop girl group BLACKPINK mentioned her "secret obsession" with Pop Mart collectibles in a December 2024 interview with Vanity Fair. "The video that started all the Labubu craze.." one user wrote in VF's comment section. Labubus have become a hot commodity since then, as consumers worlwide struggle (and sometimes fight each other) to nab the real thing for themselves. While those lucky enough to get one, or more are either already plotting their next kill or buying outfits for the one, or ones they already own. Is your Labubu real? We spot differences between Pop Mart dolls and 'Lafufus' Jeans or genes? American Eagle ad starring Sydney Sweeney blasted American Eagle sought to promote its jeans through its campaign starring Sydney Sweeney, but somehow managed to elicit controversy online and support from the White House in the process. "Genes are passed down from parents to offspring, often determining traits like hair color, personality and even eye color," the "Euphoria" star said in the ad. "My jeans are blue." Critics were quick the slam the ad, arguing that the wordplay was a subtle attempt at endorsing eugenics. By glorifying the actor's white genetics as "good," many argued the ad promoted the belief that some genetic features are better than others. President Donald Trump, Sen. Ted Cruz and White House Communications Director Steven Cheung rushed toward the ad's defense saying that the backlash was just nonsense coming from liberals. Sydney Sweeney is everywhere: A look at her viral ad campaigns. 'Kiss Cam' incident at Coldplay concert Things got a little uncomfy for a couple attending a Coldplay concert in Foxborough, Massachusetts last month. You know the one. Two concertgoers (and tech company Astronomer, by proxy) were thrust into the spotlight after a "Kiss Cam" cameo. The clip shows a man and a woman leap out of close embrace and duck out of view after they realized everyone at Gillette Stadium, including front man Chris Martin, could see them on the jumbotron. "Come on, you're OK!" Martin told the pair. "Uh oh, what? Either they're having an affair or they're just very shy." Internet sleuths were on the case shortly after the clip went viral, with many curious and determined to uncover the identity of the couple. And some of them did. Days later, Astronomer CEO Andy Byron and the company's chief people officer, Kristin Cabot, resigned. Then Astronomer hired Martin's ex-wife Gwyneth Paltrow, a "temporary spokesperson" to be the face of its newest advertisement. The scandal also became a sort of spectacle, spawning reenactments and prompting musical artists to issue warnings ahead of shows.
Time Magazine
7 hours ago
- Time Magazine
Why the U.S. and China Are Playing Nice
The U.S. and the People's Republic of China are strategic rivals in the battle for global leadership in the 21st century. So it was no surprise when President Donald Trump hit China with 20% tariffs in the first few weeks of his second term and then imposed reciprocal tariffs of 34% on 'Liberation Day.' And when Trump a few days later lowered tariff rates for everyone else to calm markets, he quadrupled duties on China to a whopping 145%. But all that now feels like ancient history. Over the past four months, Trump has bent over backwards to be kind to Beijing. The two sides announced a 90-day ceasefire in Geneva in early May, agreeing to reduce tariffs and negotiate their differences over export controls and other issues. (Remaining U.S. tariffs on China are still at roughly 55%, and China's tariffs on the U.S. stand at almost 33%. These are historically high levels, but not sufficient to outright stop trade.) Further discussions in London and Stockholm made enough progress for the two sides this week to announce another extension of the ceasefire, with the White House praising Beijing for being cooperative and flexible in the negotiations to date. Read More: Why Trump Will Blink First on China In the same vein, the Trump Administration has not shut down TikTok in the U.S. despite the fact that it is still Chinese-controlled, in contravention of American law; it denied a transit visa for Taiwanese President William Lai; and it is allowing Nvidia and AMD to sell advanced chips in China despite originally blocking many of these sales, following a pay-for-play deal. So why the sudden about-face on China? It is doubly odd given the U.S.'s simultaneous tough tact toward other members of the BRICS—a rival to the U.S.-led G7 that includes Brazil, Russia, India, and South Africa—not to mention many of America's traditional allies. Three reasons stand out. First, both Washington and Beijing now have proven weapons that are restraining the aggressive instincts of the other side. Unlike others who caved in to Trump's pressure, Beijing retaliated, first with its own high tariffs, and then, more importantly, with restrictions on rare earth minerals, over which they have a global chokehold. Once Trump began lowering most of the initial reciprocal tariffs and calling for talks with Xi, they had confidence that restricting rare earths minerals and magnets would be met not with counterstrikes but with concessions. That includes the Trump Administration backing off imposing new export controls on several technologies and scrapping their threat to 'aggressively revoke' Chinese student visas. Beijing now believes it has perfected the recipe for making a 'TACO' ('Trump always chickens out'). Second, Trump and Xi both have an interest in strengthening economic confidence at home. With persistent overcapacity and price wars across industrial and consumer sectors, 'involution' has become the word of the year in China, a nod to the excessive competition that is hurting local businesses. Xi needs to shore up government finances, consolidate industries, and avoid further international barriers to Chinese exports and investment. The U.S.'s current economic picture is stronger, but constituents in town halls across the country have expressed deep worries about lost export markets, inflation, budget deficits, and a potential recession. Third, both Trump and Xi want to meet each other, most likely in the Fall in Asia. Trump has been signaling his desire for direct communication with Xi since at least April. He wants to assemble a deal that he can sell at home as boosting U.S. business opportunities and stopping the fentanyl epidemic, given China's role in producing most of the precursors in the synthetic opiod that is trafficked to America. The Chinese have played hard to get, privately saying any summit must be preceded by detailed negotiations and planning. Based on my conversations with experts in China in recent weeks, Xi wants to avoid being disrespected, as Ukrainian President Zelensky and other world leaders were during their White House visits. And with Trump making concession after concession, Beijing may want to consolidate its recent gains and aim even higher, perhaps inducing Trump to make further compromises over tariffs, export controls, and Taiwan. Read More: It's Time for Trump and Xi to Meet Although one should not dismiss the value of stable ties between the world's two largest economies, each equipped with massive stockpiles of nuclear weapons, this warming trend is unlikely to last very long. Both sides prefer calmness now because it aligns with their short-term interests. Chinese official rhetoric aside, neither side sees the relationship in cooperative terms, and neither is willing to take major steps to provide strategic reassurance to the other. The underlying fundamental challenges created by the countries' deep divisions over their economic ties, the potential for conflict over Taiwan and other hotspots, and their competing visions of the international order can only be papered over for so long. At some point Beijing may run out of luck, and either not concede enough in negotiations or push too hard to make a TACO, and instead generate a Trumpian tirade or policy overreaction. Trump's unpredictability make linear extrapolations of any U.S. policy or strategy a risky bet. At some point, for either reasons of policy or fashion, the U.S.'s current gentle approach toward Beijing is likely to eventually harden, and for a new scene in the drama to unfold. Read More: Why China Can't Win a Trade War Beijing knows no deal with Trump is permanent. They will enjoy the peace and quiet as long as they can, but they know they need to be prepared for the next round of escalation—whenever it arrives. Other countries, companies, and markets should, too.
Time Business News
20 hours ago
- Time Business News
How to Boost Social Media Followers & Engagement the Right Way
Having thousands of followers without real interaction is like talking to an empty room. Many Nigerian creators and businesses focus on numbers, but what truly matters is engagement. When people like, comment, and share your content, it shows your message is connecting and that's what drives growth. The challenge is that boosting both followers and engagement can feel impossible. That's why SnappyPay introduced Social Boost Pro, a tool designed to help you boost social media followers & engagement in an authentic way. Grow your audience with real followers across platforms like Instagram and TikTok Improve engagement through genuine interactions on your content Build credibility so your brand looks trustworthy and active Attract new opportunities from brands, customers, and collaborators If you've been wondering how to boost TikTok followers or searching for the best way on how to get followers on TikTok, Social Boost Pro makes the process easier by connecting you with real users who actually engage with your posts. That way, you grow both your numbers and your influence at the same time. Unlike fake growth services, Social Boost Pro prioritizes quality over empty numbers. It ensures your social media not only looks good but also performs well. Powered by SnappyPay, a trusted name in digital services, Social Boost Pro is safe, affordable, and effective for Nigerians who want results without the risk of scams. If your goal is to stand out online, now is the time to invest in real growth. With Social Boost Pro, you don't just gain followers, you build lasting engagement that turns your social media into a true community. TIME BUSINESS NEWS
