Praise, also known as Praise Token, is a gamified digital currency and NFT platform. Praise is a feel-good digital currency and NFT platform built for the millennial generation. Since its launch, Praise has partnered with top brands to create 3D rendered, limited edition NFTs. Users can then trade their collectible tokens using the native Praise Token. Praise Token’s first NFT drop is with Rock Mafia, the music label that reps Eminem, Britney Spears, Zedd, and other global, platinum artists.
Jesse Tevelow is the founder and the brain behind Praise and a founder of three successful businesses, which he incubated out of Techstars as a 23-year-old. Jesse comes from a gaming background, which gives him an edge in designing smart contracts and mining algorithms optimized for growth and retention.
Jesse describes himself as fortunate enough to have worked with business legends whose experience immediately fast-tracked the Praise project to an enterprise level. Some of these industry heavyweights include James Sommerville, a former Global VP of Design for Coca-Cola, designing the Praise brand. Other contributors to this project include former FBI agents, University professors, CFO’s from multi-billion-dollar startups, SEC lawyers, and more.
Describing the model on which Praise will operate, Jesse describes it as totally gamified at the core. In his words, “Whenever you give someone Praise, new Praise is minted and added to the network. A portion is delivered directly to the sender’s account as a reward. But at pre-programmed network-wide transaction thresholds, the reward percentage is reduced across the entire platform, so the rewards are bigger in the beginning and smaller as the market grows. This incentivizes people to use the Praise Token early, which grows the network, which theoretically increases the value of the entire ecosystem. This is the kernel of our model. From there, we can do all kinds of fun things.”
For example, Praise will partner with celebrities and brands in the LA area, where the company is located, to curate custom experiences through “NFT drops.”
Praise’s NFTs will, in turn, act as access tokens that unlock unique experiences for fans and customers. “We’re baking our NFT tokens into our platform, so secondary trading becomes more accessible to consumers after the drop itself.” Jesse summed.
With the recent rise in the popularity of digital currencies, Praise Token, although chasing a global audience, its main target is millennials. Currently, there are an estimated 75 million millennials, and they will soon have the most spending power of any generation in history.
At only 38 years of age, Jesse says he has found himself and realized that his culture rubs off on his team members and continues to extend until the company stands firmly on a solid culture. “I am ready to own my brand in every sense of the word and build an organization around it.” Jesse believes that he does this well; in five years, he could be sitting in a room with friends and colleagues who are not only culturally aligned but more talented than he is, and together, they can build Praise into a globally recognized digital currency.