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Overview
Currency with a Conscience™, developed by seasoned industry experts
Praise is a digital wallet and NFT platform that makes currency feel more human. We partner with celebrities, thought-leaders, and top brands to mint limited-edition NFT tokens, which are tradeable on our platform. Praise is currently in development and not yet available on the market.
*Images are computer generated demo versions. Product is still currently under development.
Founder and CEO, Jesse Tevelow, is a three-time bestselling author, product designer, and the founder of an international marketing agency that has helped more than 50 companies and brands go to market. Their clients have raised more than $500 million to date. He also co-founded a game company that has leveraged in-app digital currencies to generate over $100 million since 2009 (Source). Tevelow’s experience with digital currency spans over a decade, and his writing has been featured in publications like Bloomberg, Forbes, The Next Web, and Entrepreneur.
Today, he heads the team at Praise, which includes the former Global VP of Design for Coca Cola, a former member of the FBI, a finance manager from Accenture, a Boston University professor, as well as a robust technical and design team that has built and launched multiple large-scale projects. The entire Praise team shares a passion for innovation, and we’re on a mission to bring digital currency to the mainstream.
Here’s a word from our Core Advisor and Director of Brand, James Sommerville, who previously led Coca-Cola’s brand design.
THE PROBLEM
Blockchain technology still isn’t fully mainstream, despite its potential to solve a lot of problems
According to recent studies, millennials are the largest living generation in the US, estimated to max out at about 75,000,000 as more immigrants enter the country (Source), and in the very near future, they will have the greatest combined purchasing power in history. While many millennials participate in global transactions, they generally don’t trust businesses that store their sensitive personal information.
While blockchain tech offers a better solution, it hasn’t reached mass adoption, primarily due to instability of token prices and poor user experience. Most cryptocurrencies are highly volatile assets because they aren’t regulated by any central institution, and the market is too small for them to sustain a consistent price over time.
THE SOLUTION
Leveraging the blockchain to offer cheaper, faster, and more secure transactions—all rooted in fun
Praise utilizes blockchain technology at the core, but still offers a non-crypto option as we bridge the gap.
We’ve partnered with other successful projects, like Wise Token, to offer immediate liquidity to our users. This means when a user makes a transaction with Praise, they know they can cash out or hold their currency in a stablecoin account to reduce volatility.
For total newbies, we also have Praise Credits, which can be converted into crypto currency whenever you want.
Outside of the base token, we create limited-edition 3-D rendered tokens with top brands, which are available for trading within our app. This helps consumers develop loyalty and trust with the brands they love, while simultaneously maintaining privacy, security, and ownership of their data.
Praise earns a small amount of our own token whenever a transaction occurs, as well as a commission on partner deals for Limited Edition NFT campaigns. We also plan to work business-to-business, providing sellers with a white-label, customizable version of our app. This will allow companies to market themselves, use Praise as an incentive program for employees, and track and reward customers.
The Praise platform tracks spending and balances, but all personal or private data is owned by the consumer and not trackable by Praise or third-party sellers. Most blockchain technology will be invisible to the end user, and currency balances are listed in the user’s local currency for simplicity and ease of use.
THE MARKET
We’re approaching a multi-trillion dollar industry with an app as user-friendly as it is revolutionary
Digital commerce is expected to become a $11.5+ trillion dollar market over the next few years (Source). The Gig Economy is estimated to be a $4 trillion dollar market (Source), while Remittances is projected to hit 1T by 2026 (Source).
Praise is expected to have peer-to-peer capabilities, zero or nominal transaction fees, and built-in incentives and rewards.
But most importantly, our NFT partnerships and branded collectible coins give the app a game-like feel. And along with every collectible, we plan to spin-off some of the proceeds to fund social acts of kindness. This could include donations to causes, support of a local charity or project, profits back to our own community, and more. With our gaming and consumer product backgrounds, we’re focused on UI/UX first. The result is a relational experience, which creates loyalty and trust—not only with Praise itself, but with the businesses and brands that partner with us.
*Images are computer generated demo versions. Product is still currently under development.
OUR TRACTION
Partnerships with top brands, plus new features and plug-ins in the works!
Praise is pre-revenue, but to-date, we’ve designed early mockups of the product, created multiple partnership opportunities, and assembled a stellar team. Our first pilot partner is Rock Mafia, the music producer that has collaborated with countless household names, including Eminem, Britney Spears, Wyclef Jean, Selena Gomez, John Legend, Zedd, Miley Cyrus, Kelly Clarkson, Mariah Carey, and Ariana Grande.
We will partner with top brands to release limited edition Praise tokens, which can be traded within our platform. These tokens unlock unique experiences, access to limited-quantity merchandise, discounts, and more.
Our coins will also be visible in augmented reality through our partnership with Verses Technologies.
Eventually, we’ll include options to convert Praise into gift cards, automatic donations to causes our users care about, and more. We will also be building browser plug-ins, an API, and an SDK to offer easy access to the technology.
WHY INVEST
The staying power of Praise is reflected in the data, the innovation of the app, and the success of its team
We want Praise to be around for our children, and our children’s children. In the next five years, we expect Praise to be a household name, with “Pay with Praise” buttons all over the internet, and “Raise with Praise” funding campaigns widely used.
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Studies have shown that millennials are ready for a global currency that allows them to build relationships with the brands they love, and Praise is ready to deliver. Collectively, our team and advisors have multiple successful companies and exits (over $100M+ in combined value). As blockchain technology is experiencing a watershed moment in mainstream consumer adoption, we believe Praise is positioned to ride the wave. We hope you’ll join us!
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.
Bitcoin maximalists say cryptocurrency is the future—a claim bolstered by the proliferation of Defi (Decentralized Finance), NFTs (non-fungible tokens), and the surging price of Bitcoin over the past year—despite the recent dip.
Cryptocurrency is growing in popularity, but enthusiasts still ponder why there are so many skeptics. A newcomer to the space, Praise, believes the solution lies in custom experiences rooted in human connection.
The world is experiencing a shift in how it approaches currency. Millennials are the powerhouse for consumer spending in the United States, on track to carry the most wealth of any generation in history within the next few years.
Blockchain enthusiasts tout that crypto is the currency of the future. Millennials, who number over 75 million in the US, are rapidly entering the space—and new startups are emerging to serve them. Praise is one such platform gearing up for its debut into the cryptocurrency and NFT market.
Company | : | Praise Token, Inc. |
Corporate Address | : | 1128 OCEAN PARK BLVD, APT 314, Santa Monica, CA 90405 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $5,000,000.00 |
Minimum Investment Amount(per investor) | : | $100.00 |
Offering Type | : | Convertible Promissory Notes |
Type of Equity Converted Into | : | Class B Common Stock |
Conversion Trigger | : | $1,000,000.00 |
Maturity Date | : | July 31, 2023 |
Valuation Cap | : | $15,000,000.00 |
Discount Rate | : | 20.0% |
Annual Interest Rate | : | 5.0% |
What is a Convertible Note?
A convertible note offers you the right to receive Class B Common Stock in Praise Token, Inc.. The amount of Class B Common Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $1,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $15,000,000.00 Valuation Cap or if less, then you will receive a 20.0% discount on the price the new investors are paying. You also receive 5.0% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive Class B Common Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).
*Annual Interest Rate subject to adjustment of 10% bonus for StartEngine shareholders. See 10% Bonus below.
***Investors that qualify for the bonus interest rate will receive an increase in the annual interest rate on Convertible Promissory Notes in this Offering of 5%, 10%, 15% or 20% based on the bonus they qualify for. This means at that if qualified for a 10% bonus, the annual interest rate will be 5.5% instead of 5%.
Time-Based Perks
Friends and Family Early Bird Bonus
Invest within the first 48 hours and receive additional 15% bonus interest rate
Super Early Bird Bonus
Invest within the first week and receive additional 10% bonus interest rate
Early Bird Bonus
Invest within the first two weeks and receive an additional 5% bonus interest rate
Amount-Based Perks
$500+ | Bronze Tier Bonus
Early access to new features on the Praise platform and $50 in Praise Credits to use in the app.
$1,000+ | Silver Tier Bonus
Early access to new features on the Praise platform and $100 in Praise Credits to use in the app.
$2,500+ | Gold Tier Bonus
Early access to new features on the Praise platform and $250 in Praise Credits to use in the app.
$5,000+ | Platinum Tier Bonus
5% bonus interest rate, early access to new features on the Praise platform, early adopter profile badge, and $500 in Praise Credits to use in the app. (Early Adopter Badge Subject to Change).
$10,000 | Diamond Tier Bonus
10% bonus interest rate, early access to new features on the Praise platform, early adopter profile badge, $1,000 in Praise Credits to use in the app, and access to a private dinner with the Founder and Executive Team. (Transportation and lodging not included. Early Adopter Badge Subject to Change).
$25,000 | Super Angels Bonus
15% bonus interest rate, early access to new features on the Praise platform, early adopter profile badge, $2,500 in Praise Credits to use in the app, and access to a private dinner with the Founder and Executive Team. (Transportation and lodging not included. Early Adopter Badge Subject to Change).
$100,000+ | Funds and HNWIs Bonus
20% bonus interest rate, early access to new features on the Praise platform, early adopter profile badge, $10,000 in Praise Credits to use in the app, access to a private dinner with the Founder and Executive Team (transportation and lodging not included; date tbd), and 1 of 100 Praise Stakeholder NFTs. These tokens will come with voting rights and mint new Praise for the owner on a regular basis, constantly advancing your position. (Early Adopter Badge Subject to Change).
*All perks occur after the offering is completed.
The 10% Bonus for StartEngine Shareholders
Praise Token, Inc. will offer 10% additional bonus interest for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
Eligible StartEngine shareholders will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering. This means your annual interest rate will be 5.5% instead of 5%.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Hi everyone,
I love sharing these conversations with you because it gives you a glimpse into the relationship-building we do at Praise. Steve has an event planned for December, or maybe even Q1 of next year, but we're planning it now.
Here's the full video with insight into our process, and how we see the use of NFTs expanding into experiential assets.
Cheers!
J
Hi, Praise Investors! This week, we're busy prepping for our launch event in the Hollywood Hills. It's shaping up to be a special night. Here's an image of the property we've secured for the experience...
This mansion was previously owned by Katy Perry, but the space has been completely remodeled. To "praise" all the amazing work being done in our industry, the event will feature unique NFT art from local artists, live podcasts with industry experts, multiple DJs from the LA area, a red carpet photoshoot, and more. It's all free for our privately invited guests.
We're selecting remarkable people from across the globe to attend. From a marketing perspective, we want to demonstrate the power of community. Bringing a diverse set of people together in a collective space for a common cause spawns magical moments.
There is no agenda at our event—except to have fun and enjoy humanity. We know this might seem like a weird marketing strategy, but we believe playing is universally enjoyable and relatable. The idea of "play" is core to the Praise brand.
When I see the constant wonder in my 16-month old daughter's eyes, it tells me everything I need to know about humanity. At the core, it is good.
We operate under the belief that power is shifting away from the corporation and toward the individual. The age of creativity is upon us, and Praise will help fuel that ecosystem.
I can't wait to share the event with you LIVE here on StartEngine. We'll be taking pictures and videos throughout the night! We're being responsible, providing plenty of open-air spaces, but we want our community to feel the energy in Hollywood—where stars are born.
Before I sign off, here's a fun offer for you: If we can collectively achieve $200K raised by the event (October 8th), I'll fly one of you out for the evening. I'll also fly anyone out who invests at the $10K level or higher.
With Praise,
J
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Praise has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Praise be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Hi, everyone!
After nearly 20 years of entrepreneurship, I've learned that building a stellar product isn't enough to ensure a sustainable organization. In fact, many good products fail because there aren't enough resources or advisors around the project to help it grow.
I've spent the last decade building relationships with remarkable people, not because I knew I would launch Praise, but because I truly admired them and wanted to learn.
The people in an organization determine its success or failure—not the product. Luckily, our team is stacked. I'm honored to share this quick video with one of our earliest strategic investors and mentors, Mike Rowan. Enjoy!
Hi all!
We've been cranking behind the scenes. Here's the latest!
Community:
Our new partner, Kylin Kalani, grew the Telegram community from 200-400 with one post! Way more to come.
Marketing:
Product:
Fundraising:
More investment groups are helping us raise money.
Rewards:
---
Here's the full video update:
With Praise, J
We are thrilled to announce a partnership with Kylin Kalani. At 15 years old, Kylin has mastered social media and cultivated a loyal following of superfans.
We’re already planning a number of initiatives with Kylin, including live events, online promotions, and more that we can’t talk about yet.
This isn’t just another partnership. I sat down with Kylin and her mother Jane for over an hour yesterday.
We are building something real.
Here is the post that Kylin put together. You can tell she knows what she’s doing…
Wow, we can't believe it's Friday! This week has been a blur. We saw $100K invested into the project in the first 3 hours, and another $32K has rolled in since then.
Over 60 investors have contributed so far, and we couldn't be happier about it. I recorded some updates for you!
In this video I discuss:
- The numbers from our first week of raising
- Investor Cohort groups: These are special communication channels we are creating for our earliest adopters.
- Investor ShoutOuts: Did I call your name?! Find out!
- StartEngine's fundraising campaign and how it helps us
- What’s coming next for our campaign launch strategy
Let's keep this party rocking!
With Praise,
Jesse
Many entrepreneurs jump into a new industry when it gets hot, trying to make a quick buck. Is Jesse Tevelow, our Founder, this type of fair-weather founder? Nope. Not at all. Jesse has believed in blockchain since 2009, and has been unwavering in his support for the industry. As a VC and consultant, Jesse worked with many of the early blockchain companies, like our partner, Origin Protocol. Take a look at this video from 2 years ago, where Jesse is already talking about the future of Defi and NFTs at the LA Blockchain Summit:
Are you curious about crypto, but not sure how to get in? This is it! Through StartEngine, you'll get equity in our company—and you don't have to set up a crypto wallet or buy bitcoin or anything like that. If you believe in the company, it's like you're buying shares of stock in Facebook in its earliest days. As part of this investment, we're also giving every investor at the $500 level and above an I-O-U in the form of Praise Credits. These Credits can be exchanged later for our cryptocurrency, which will have other features and benefits.
So, it's the best of both worlds.
Get some exposure to crypto through owning equity in a blockchain-powered project, avoid all the hassles of crypto for now, and get an I-O-U that can be converted into crypto later if you want. Yep, we thought this one out long and hard. J
Things are heating up! The Edge of NFT Podcast just dropped a special edition episode featuring Praise! In this broad-ranging discussion, our Founder, Jesse Tevelow, goes deep on the vision behind Praise, the team, and what the future holds for the company. Enjoy!
Praise Investors,
The clock is ticking to grab the best perks of our campaign—and earn the biggest rewards Praise has to offer.
We’re humbled after raising over $120k in less than 36 hours. This means our dedicated early adopters believe in our mission: To develop consumer trust in digital currency and have some fun along the way.
We know the incredible value our earliest supporters bring for the momentum and success of the campaign. And that’s why we’re adding an additional 10% in bonus interest on any investments made this week. But there are only a few days left.
Know someone who would want these perks? Send them to our page today!
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