Own, the new social media app from former U.S. It guarantees much higher revenue shares and content ownership transparency through the use of blockchain technology. Amir Kaltak and Katia Zaitsev, both former members of the web3 startup Lexit, joined forces with Sarah Mick, one of the designers behind Tinder and Bumble, to Found Own. Their hope is to address the growing frustration that creators have with the compensation structures of current platforms. It’s financially beneficial to both its creators and its users. The platform touts creators as much as 50% higher revenues compared to legacy platforms. Its goal is a fairer, more equitable ecosystem. As of now, almost 40,000 people are waiting their turn to be able to use the platform.
Blockchain-Based Transparency
Own sets itself apart by recording all media permanently on the Base Layer 2 blockchain. This unique integration provides complete transparency and verifiable content ownership. It’s fulfilling an extremely important need for creators who are too commonly persistently fighting to protect their work and get the proper attribution. Blockchain technology provides these creators a transparent and immutable audit trail of where their content originates from and how it’s being leveraged. This helps foster a culture of trust and accountability across the entire platform.
Enhanced Revenue Opportunities
With Own, creators keep a lot more of their money, no matter how their fans choose to support them. For tipping creators on Own, keep 80% of the revenue, which is 30% more than on TikTok at 50%. Likewise, for brand sponsorships, creators receive 90%, and for sales generated through Own Shop, creators take home 95%. When licensing videos to brands, creators take home 90% of the revenue. This new strategy is a radical departure from legacy platforms. Here, creators get a bigger cut of the money their content makes.
Fair Compensation and Community Governance
To achieve this Own is dedicated to paying all creators directly in $OWN tokens regardless of their size or geographic location. This approach addresses the issue of unequal pay and limited access to monetization opportunities that many creators face on existing platforms. Additionally, Own incorporates a Reddit-style upvote/downvote system. The system not only affects content visibility, but also leaderboard rankings, further empowering the community to help curate and promote high-quality content.
"Owning your content, global equal pay, and fair compensation should be the norm, not the exception." - Sarah Mick
