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Kik app introduces its own cryptocurrency called ‘kin’
Kik has also teamed up with the Unity game development engine which will allow it to create an SDK which will allow the other apps to make cryptocurrency on its platform.
Kik which is a popular instant messaging app has recently announced 'Kin' cryptocurrency its users. The newly introduced cryptocurrency is a part of company's initiative to begin a 'crypto-economy'. The company has said that it will be randomly selecting around thousand Kik app users to toy around with the Kin tokens as a part of a beta test. Kik has further accepted that the company's digital asset has still a long distance to cover to reach the primetime.
According to some reports from the Beebom, Kik has mentioned in its press release that the users will have to take quizzes, answer polls and work on tutorials in order to earn the Kin cryptocurrency. The Kin digital coins can only be spent on some cosmetic upgrades within the Kik app. The upgrades will include a premium version of the latest chat themes feature. Users can make the transactions at the 'Kin Marketplace Beta' which the company is describing as "a central place for Kin experiences".
It is being further that the product manager Laura Newton has said this in an interview to VentureBeat that the feature is currently being rolled out to 1,00 users as it is a new technology. The company wants to make sure that everything remains the way it was before they scale things up. Laura commented on the matter and said that we should be able to grow that number quite quickly. So, 1,000 users for now, with a potential of growing". Kik, on the other hand, has not yet provided any official ETA as to when the feature will make its way to the users globally.
Ted Livingston, the founder, and CEO of Kik commented on the matter that, "Our goal is to make Kin the most used cryptocurrency in the world and getting Kin into the hands of more Kik users is a critical step in achieving this. The blockchain is a new and complex technology, but consumers don't have to understand the technology in order to use it. With these new experiences, we want to demonstrate how simple and seamless cryptocurrency-driven experiences can be".
The company further announced that it has also teamed up with the Unity game development engine which will allow it to create an SDK (Software development kit) which will allow the other apps to make cryptocurrency on its platform. If everything falls in place the company expects that there would be around 10 trillion Kin tokens in circulation. It would be interesting to see how well the audience accepts the Kin tokens and whether this venture will prove to be successful for the company in a long run.