Kik Launches Beta Test Of Cryptocurrency Platform

8 Mar

A thousand users on the Kik electronic messaging app can get an opportunity to play with the Kin cryptocurrency beginning in the week as a part of a test, however the corporate acknowledges that they’ve got a great deal of labor before Kin is prepared for primetime. Kik Username have all list of kik girls and kik boys.

The users United Nations agency ar picked for the test are able to earn Kin tokens by finishing tutorials and filling out quizzes and polls, and they’ll be able to pay those cryptocurrency tokens on cosmetic upgrades within the Kik app.

The company hopes this can be a step toward widespread adoption for the beleaguered Kin cryptocurrency, that raised nearly $100 million in Associate in Nursing initial coin giving last year.

“It is that the 1st time that will|we will|we are able to} purpose to one thing and say this can be however Kin can add native options,” Kik product manager Laura Newton same.

Technically, Kik and Kin ar separate entities, though they’re operating hand-in-glove on this.

Kik could be a for-profit company that operates a electronic messaging app, that chief operating officer tough guy Robert R. Livingston same in could has “millions” of active users.

Kin could be a non-profit foundation that’s imagined to run the Kin cryptocurrency. The Kin foundation presently has solely 2 individuals on its board: Robert R. Livingston, and a second freelance member, however the Kin Foundation hasn’t in public unconcealed United Nations agency that person is.

Livingston’s plan is to use Kik as a launch area for Kin, permitting users on the electronic messaging app to earn cryptocurrency tokens, pay them on in-app purchases, and eventually be able to do peer-to-peer transactions.

For example, Associate in Nursing important Kik user might charge people many Kin to affix a bunch chat for exclusive content.

Kik and Kin conjointly wish to form a computer code development kit that may enable alternative apps to include the cryptocurrency, and Newton same they’ve signed partnership agreements with the Unity game development engine to form a SDK to permit computer code developers to plant Kin into the design of their games.

Kin conjointly encompasses a partnership with IMVU, a social game wherever users act with 3D avatars.

If all of this gets off the bottom, there’ll ultimately be a complete of ten trillion Kin tokens in circulation. of these tokens, one trillion were sold-out off to investors as a part of the initial coin giving last year, raising nearly $100 million.

Kik is holding onto three trillion of those tokens, therefore if the currency extremely takes wing, that’s however they’ll flip a profit on this project.

The remaining vi trillion tokens ar command by the Kin Foundation, and also the foundation is meant to develop a “Kin rewards engine” to administered most of these tokens to developers United Nations agency produce helpful and attention-grabbing integrations for Kin.

Livingston was fairly blunt regarding the stakes concerned during this play once he spoke to the money Post in late could. this can be a resolute bet for Kik.

He same they’re not sufficiently big to form abundant cash merchandising ads, and that they can’t charge users for the electronic messaging service directly, as a result of there ar alternative free choices out there like WhatsApp and Facebook courier.

“We’re taking part in against monopolies — Facebook and Google,” he said.

“We want a distinct means, or in some unspecified time in the future we’re attending to get killed.”