Cryptocurrency has been gaining traction with mainstream audiences, but price volatility continues to be an issue, as evidenced by the recent dip in the market. Jesse Tevelow, Founder and CEO of Praise, believes consumer-focused apps will bring more stability to the industry.
Praise is a gamified digital currency and NFT platform. It allows consumers to connect with their favorite artists and brands through collectible tokens. The platform’s native cryptocurrency also features peer-to-peer capability, zero or nominal transaction fees, and built-in rewards.
For every transaction made in Praise, more Praise tokens are added to the ecosystem, with a portion going directly to the sender as a reward. This initially sounds like any cashback program, but there’s a twist: The rewards decrease over time as the network expands. “It incentivizes people to use Praise immediately, which grows the community,” says Tevelow. “From there, we can do all kinds of fun things to gamify money.”
Tevelow is an alumnus of the first class of Techstars, where he co-founded a successful game company, selling tens of millions of dollars worth of digital currency. He also runs a marketing agency called LaunchTeam, which is incubating the Praise project. The platform has been shaped by a carefully curated team of experts. “I’m fortunate to be working with business veterans whose experience far surpasses mine,” said Tevelow. Early contributors include the former Global VP of Design for Coca-Cola, former FBI agents, university professors, retired CFOs of multi-billion dollar companies, and former SEC lawyers.
Praise partners with brands to create collectible NFTs (limited-quantity digital tokens). The tokens act like access passes at an amusement park—leading to exclusive content or other perks. Praise’s collectible coins can be traded, bought, and sold with the app’s native Praise token. “We’re baking NFTs into our platform so secondary trading is more accessible to consumers after the drop itself,” Tevelow said.
Praise tokens can then be transferred into fiat or held in lump sums to earn interest. Eventually, the company will offer options to convert the cryptocurrency into gift cards, donations, and more.
To generate excitement around the launch, Praise has secured partnerships with leading brands, including Rock Mafia, the music collective that represents countless global talents, like Eminem, Kelly Clarkson, Vanessa Hudgens, Selena Gomez, and Zedd. They’ve also inked a deal with SMASH Global, a sports media property that runs exclusive, black-tie MMA events in Los Angeles. Past Honorees include Chuck Lidell, “Sugar” Shane Mosely, and Mel Gibson. “We’re pumped to launch our exclusive event this Summer with Praise backing us,” said Steve Orosco, Founder of SMASH Global. “NFTs unlock deeper experiences with consumers, and we’re on the leading edge of it all. It’s exhilarating!”
Learn more about Praise at its website. website.