LOS ANGELES—Millennials are claiming an influential role in the economy as their spending power increases. Soon, they will become the biggest spenders of any generation. As millennials continue to dabble in crypto, the crypto market is maturing around them. A new cryptocurrency, Praise, hopes to empower the younger generations through a giving culture that fosters trust.
Praise is a gamified platform for sharing digital currency and acquiring collectible NFTs. “Whenever you give someone Praise, new Praise is added to the network,” said Jesse Tevelow, Founder and CEO. “A portion gets 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.”
Tevelow, a serial entrepreneur and bestselling author, conceived of Praise several years ago. He has been biding his time, waiting for the right moment to launch. Apart from writing and publishing three bestsellers, he has founded two international marketing agencies and built multiple startups. Struggling with depression and anxiety after the death of his father and brother, Jesse hopes Praise can give people hope. “Most humans are kind by nature. We’re just tired and stressed in our harsh economic and cultural realities.”
A primary focus for Praise is the culture of the organization. “I’ve been building companies for the past 20 years,” explains Tevelow. “Over that time, I’ve realized the companies with staying power are always built on a strong culture. And culture begins with the founder.”
Part of why millennials stray away from crypto is their uncertainty on its credibility, and the team who created it. According to Tevelow, that’s what inspired him to form such a veteran team. “We’ve got the former Global VP of Design for Coca-Cola, university professors, marketing leaders, and a proven technical team backing us,” he said. The company has also collaborated with FBI agents, university professors, CFOs from multi-billion-dollar ventures, SEC lawyers, and many others.
Tevelow wants Praise to be more than just a cryptocurrency. Instead, he sees it as a staple in how people could exchange money tied to joy or value.
“At Praise, we’re designing currency with a conscience—money that doesn’t make you feel gross or transactional. Life is tough. Everyone deserves a little fun money.” To stay up-to-date on Praise, visit its website.