Own is a new social media app launched by Amir Kaltak and Katia Zaitsev. The mission is to revolutionize the creator economy through tokenization and fair revenue redistribution. The platform, co-created by renowned entrepreneur and artist Sarah Mick, allows creators to earn up to 50% more than other platforms. Simultaneously, it delights audiences with innovative interactive content experiences. Own is deeply committed to equitable pay and global accessibility. They address the devil-in-the-details challenges that currently plague the social media space.
What sets Own apart is that viewers don’t just passively watch content, they can vote up and vote down content. Creators are then rewarded with $OWN Tokens as their videos gain traction and go viral, all tokens being 100% tradeable. Own dedicates a portion of its cash income to purchase $OWN Tokens off exchanges. This strategy protects creators and preserves a sustainable reward structure.
For monetization, Own implements a creator-centric approach. When creators then resell that content to brands for their marketing campaigns, Own takes a 10% fee. This relationship framework ensures creators retain 90% of the revenue generated. Owning creators’ earnings Just like with sponsorships, Own takes only 10% of sponsorship earnings — a huge step in further empowering creators. In the case of tipping, Own's revenue share is 20%, significantly lower than TikTok's 50%.
Most creators around the world don’t have access to monetization on major social platforms simply because of their location. With Own, we’ve built a system that levels the playing field and opens up real earning potential for creators globally" - ["Kaltak" - TechCrunch]
Own’s monetization features — including use of the $OWN Token — are scheduled to roll out between July and September. The app is now free to download from the App Store and Google Play Store.
The development team responsible for Own comes highly seasoned and recommended. CEO Amir Kaltak and COO Katia Zaitsev are both former co-founders of the web3 company Lexit. CCO Sarah Mick’s experience includes leadership roles at popular dating platforms Tinder and Bumble.
Owning your content, consumer agency, global equal pay, equal opportunity to go viral, making meaningful connections, and empowering people through self-expression and fair pay are at the forefront of correcting the current problems with social media" - ["Mick" - TechCrunch]
Own has sparked tremendous excitement, with almost 40,000 people on the waitlist right now. The startup has emerged from stealth mode, having raised a successful $5 million+ funding round. Investing in this round are Sarah Mick, Michael Terpin of Transform Ventures, Saba Capital, Base Spin Capital and Stoka Global.
Own made its public beta widely available just two days before TikTok was expected to meet the deadline for selling off its U.S. operations. Talk about serendipitous timing! This timing could not be better, as the demand for new social media platforms focused on creator empowerment and fair compensation continues to rise.
