As the countdown to TikTok’s U.S. operational deadline nears, a fresh face in social media is making waves. Own, a new decentralized app, has launched its beta and aims to revolutionize how creators connect with audiences. Unlike traditional platforms, Own offers a dynamic experience with a swipeable feed featuring short videos, text posts, images, and direct messaging.
What sets Own apart is its innovative use of blockchain technology and a token-based economy. Creators can earn revenue without the usual constraints of follower or post count, thanks to the $OWN Token. This token is awarded based on video engagement and is tradeable, operating securely on Base Layer 2 blockchain.
Behind the app are founders Amir Kaltak (CEO) and Katia Zaitsev (COO), previously of web3 company Lexit. They are joined by Sarah Mick (CCO), who brings expertise from her time at Tinder and Bumble.
Kaltak envisions Own as a game-changer, especially for global creators who traditionally face monetization barriers. He explains, “We’ve leveled the playing field, allowing creators worldwide to earn.”
The platform’s approach to revenue includes buying $OWN Tokens from exchanges to distribute to creators, fostering sustainable token demand. This model mimics successful practices seen in apps like India’s Chingari, which boasts a user base of over 180 million.
Monetization on Own extends beyond tokens. Features like tipping, brand sponsorships, and Own Shop (its version of TikTok Shop) promise lucrative opportunities. For example, Own offers up to 50% higher earnings compared to other apps, taking only 20% of tipping revenue, whereas TikTok claims 50%. Creators also retain 90% of sponsorship earnings and 95% from Own Shops.
These monetization features, including the token system, are expected to roll out by the third quarter, with Own Shop entering beta later. Additionally, content licensing offers another revenue stream, allowing creators to license their work while preserving rights, keeping 90% of the profits.
Own’s ranking system—where users vote content up or down, similar to Reddit—adds another layer of interaction, potentially boosting creators’ visibility.
Mick highlighted the initiative’s mission, stating, “Empowering people through self-expression and fair pay are at the forefront of correcting the current problems with social media.”
Currently available for free on the App Store and Google Play Store, Own has already attracted nearly 40,000 on its waitlist, with over $5 million in funding from notable investors.
