You42 is a social, entertainment, and lifestyle blockchain based platform, focused on the distribution of a myriad of verticals of entertainment, as well as open access content. Oppositely to other online social platforms, You42 enables users to curate their experiences according to their interests and incentivizes them for reading, commenting, listening to, watching, and/or sharing content with cryptocurrency tokens and experience points. Artists and content creators can leverage their digital content to increase monetization, discovery and interaction with fans.
Some of the main stages of the actualization of this Blockchain-Powered Social Entertainment Project include:
- Platform planning and Early-stage development.
- Integration of Upload and Search functionality.
- Setting up of Social Feed and Messaging feature.
- OTT Content.
- Token infrastructure stage including Economy specs, Token design, and creation of the advertising module.
- Staffing of the internal development team.
- Launching of the platform as well as the ICO.
Developers of this platform are transparent and document everything they are doing in the Blogging section of their website. Potential users may keep up with their ‘Sprints’ published on the blog and understand how well they are going on or simply sit and wait for the You42 launch.
You42 is packaged as the world’s pioneering social entertainment platform that’s blockchain-based to bring together entertainment content creators and their followers. At the moment, there’s a Web app built in HTML5, the Beta version. Among those expected to use the platform and monetize their crafts will be gaming, music, sports, news fanatics and others.
You42 Use of Token
U42 is the platform’s native token. U42 is an Ethereum based ERC20 token. There will be a total of 525 million U42 tokens, 60% of which will be offered for sale via the ICO. U42 tokens will be used to reward users for reading, watching, or listening to content on the platform. Also, content creators and artists can monetize their content via U42 tokens.
The U42 Token
The You42 platform brings forth a revolutionary concept that is made possible through the use of blockchain technology. While the blockchain is not leveraged for any type of decentralized storage, it is instead used as an incentive and monetization layer within the platform. You42 will issue U42, an ERC-20 token based on the Ethereum blockchain. This token will be used within the platform in three distinct ways:
Advertising: The You42 platform allows content creators to reach their target audience by advertising their content on the platform. Additionally, You42 will allow third-party brands to advertise on specific content, driving monetization for the content creators. This functionality is paid for with U42 Tokens.
Rewards: Users can curate the content they come across, being rewarded for listening to, watching, commenting on and/or sharing content with XP (experience points). As they gain XP they will level up and receive tokens for reaching the next levels.
Tips: Fans can reward creators for their work directly by tipping them with UCoins, an internal currency that can be purchased with the U42 Token.
The U42 ICO
In order to fund the development and marketing of the You42 platform, an Initial Coin Offering (ICO) is currently taking place. The You42 ICO started on the 2nd of July and will last until the 31st of August, 2018. The ICO token allocation represents 60% of the total token supply and will be available for a 0.00097 ETH base price. The ICO funding target is $30M and the cap is $50M.