Chat app Kik nowadays introduced its Kin cryptocurrency to a restricted range of consumers for the primary time. A at random elect 1,000,000 users are going to be the primary to use the cryptocurrency.
Initial Kin currency given liberated to all users of the app will solely be spent on new app themes. This marks the primary time the chat app’s fifteen million monthly active users are going to be given the selection to customise the chat background, however the employment case is way from the formidable plans Kik has for its cryptocurrency.
Users are going to be able to earn Kin by obtaining the correct answer in triviality quizzes or by finishing polls and respondent questions about things like what they pay their free time doing or their overall opinion of the Kik app.
“We’re starting up with 1,000,000 users as a result of it’s such a brand new technology, and that we need to form positive everything scales which it’s durable, and so we tend to anticipate we must always be able to grow that range quite quickly. So 1,000 for currently, with a possible of growing,” product manager Laura Newton told VentureBeat during a phone interview.
The road to the launch of Kin started back in could 2019 with the creation of the Kin system Foundation to manage the cryptocurrency. A close to $100 million token sale passed last fall.
Kin adoption is supposed to be driven by the Kin Rewards Engine, designed to grow associate degree system that encourages developers and businesses to form partaking content or bots. Users square measure then rewarded for staying functioning on the platform so as to draw in new users and retain previous ones.
The additional users interact with content and pay time on the platform, the additional Kin they'll earn to try and do things like purchase premium content or different product among the Kin Marketplace or elsewhere on-line with its Ethereum-based cryptocurrency.
A Kin code development kit has additionally been created to present different platforms like game engine creator Unity the flexibility to follow {a similar|an identical|an associate degreealogous|the same} approach to the Kin Rewards Engine and build an system that rewards engaged gamers with cryptocurrency.
No specific date has been set for gap the Kin Rewards Engine to a bigger cluster of developers.
“We’ve started by doing this Kin launch, our 1st integration of the SDK to tackle learnings that go together with it. when we tend to begin doing that, i believe we’ll begin to appear at different advances within the app, and bots are going to be a part of that throughout the year. thus it’s on our roadmap, however it’s not one thing that we’re targeted on without delay,” Newton aforementioned.
In May, Kik created a Stellar-based blockchain to control in cycle with its Ethereum-based blockchain and address measurability problems encountered with Ethereum. Kik Usernames can be used to find new people on Kik Messenger.