A platform to empower the people who help digital communities thrive.
According to LinkedIn, Props Project is developing a platform to empower the people who help digital communities thrive. The company stated that it provides an open-source infrastructure for a network of apps. Those apps are capable of transparently and fairly rewarding users with a shared token. The Props platform will allow developers to easily plug Props Tokens into any app. This will allows developers to give the users of their apps unique benefits and a financial stake in the networks they help to grow.
According to Crunchbase, Props Project is developing a decentralized model for digital media that uses blockchain technology to reward the contributors that use and power the network. The platform is powered by its PROPS token that grants access to features, content, rewards, and more.
The company has raised a total of $27M in 2 funding rounds. The latest funding was finished on April 30, 2020. Some of the investors who participated in the funding round are GSR Ventures, CoinFund, Union Square Ventures, Dating Group, Borderless Capital, and Lvna Capital.
According to its website, the Props has multiple advantages compared to other projects. Some of them are simple APIs supports without having to change any business model or set up, zero-fee transaction to charge or top-up users app while having the ability to earn reward tokens, and allow businesses and developers to design and brand their own token loyalty program to incentivize user engagement.