Working with the founding team at You42, we designed and built the entertainment platform you42.com, creating the U42 token and overseeing the platform through a successful initial offering with a raise target of $50 million.
About the platform
You42 is a disruptive, creator first entertainment platform designed with the principle of fully empowering content creators. Backed by members of the music industry, its mission is to give creators and influencers the power to maximise the monetisation of their work while retaining full control of their content.
The platform is built using web3 technology (blockchain and a token ecosystem) and hosts a growing mix of fresh, high quality music, video and podcast content.
At the heart of You42 is a desire to provide creators with a model that allows them closer engagement with fans and an ecosystem that better rewards them.
Token creation
Our team worked with the You42 founders to create the U42 token, which is used to purchase advertising and promotion within the platform’s ecosystem. The model offers both pay-per-use and pay-to-display for content with a rate set by the platform. This allows creators to promote and monetise their content within the platform itself, as well as build on the content of other creators.
The U42 token is based on the Etherium ERC-20 token standard. Advertisers can place adverts on the platform using a compatible wallet to access the U42 token smart contract.
You42 features a second currency layer called Ucoins that can be used to interact with other content creators.
Platform development
Our product team worked with You42’s visionaries to build on their high level concept and move it through inspiration to implementation using our Ideation Framework. This process resulted in a detailed roadmap that supported a pre-sale raise of $23 million. Feature designs fed into development teams based in the UK and US.
Our role as product design and build partners was to guide the You42 platform from initial vision to implementation and beyond. We successfully prepared You42 for its investment round through an ICO (initial coin offering) – now largely replaced with IEOs (initial exchange offering) and IDOs (initial DEX offerings). This involved creation of the token and its compliance with the evolving ICO legislation.
We continued to support the You42 platform over a three year period before our planned exit and hand over to You42’s own internal development team which we helped hire and onboard.
If you’re interested in how our team of product designers and web3 technologists could help you move your vision through to implementation then contact us.
