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Own, a new social media app, aims to tokenize the creator economy
Own, a new decentralized social media app, launched its beta version, allowing creators to monetize content without follower count minimums. Utilizing blockchain technology, the app rewards users with tradeable $OWN tokens for engagement. Developed by experienced tech entrepreneurs, Own aims to disrupt the creator economy with fairer revenue sharing, potentially providing higher earnings compared to platforms like TikTok.
Key points
- Own is a decentralized social media app launched in beta aimed at tokenizing the creator economy.
- Creators can earn $OWN tokens without minimum follower or post requirements, enriching monetization opportunities.
- The app operates on Base Layer 2 blockchain, ensuring secure transactions and content ownership.
- Creators retain a higher percentage of earnings (90% for sponsorships, 95% for Own Shop) compared to TikTok (which takes 50%).
- Kaltak states that the platform levels the global playing field for creators, allowing users to earn irrespective of location.
- Additional features include content licensing and a ranking system for posts, enhancing content visibility and monetization opportunities.
Why it matters
- The launch of Own aligns with the increasing importance of decentralized platforms in 2025, reflecting the ongoing shift towards web3 technologies.
- Blockchain-based social media platforms are gaining traction, as evidenced by other successful models like Chingari in India, which emphasizes monetization for creators.
- Historical trends show a growing demand for fair revenue-sharing models in social media, particularly against the backdrop of creator disenchantment with existing platforms.
Own represents a significant innovation within the social media landscape, promising to empower creators through an equitable monetization model and blockchain integration, potentially setting a new trend for the industry.