Video start-up can’t outspend YouTube, so it created new currency
On Tuesday, the company announced it would sell the first batch of Props — between $ 13 million and $ 19 million worth — on November 29 through CoinList, which works only with accredited investors, and handles screening for compliance with money-laundering rules. YouNow will sell the rest of the batch of tokens to the general public in December and January. From that point on, people can acquire Props either by earning them by using services that have adopted them or by buying on exchanges that swap cryptocurrencies. There’s a pretty obvious bear case here. YouNow’s growth has slowed in the face of coe company’s way. But a brazen gamble beats the alternative.