"The SEC allows me to say that you have a potential upside in this network," said YouNow CEO Adi Sideman.
Since the token launched in early July, more than 230,000 YouNow users and content creators have been given 'Props.'
YouNow says two other peer-to-peer sites are now integrating its props token: Camfrog and Listia.
YouNow has filed an offering circular with the SEC – for a token that it intends to give away.
Crypto tokens are making some companies, especially those with existing virtual currency businesses, rethink the way they make a profit.