Messaging service Kik unveiled their very own cryptocurrency final yr, partially as a option to set it aside from the competitors. A rising variety of corporations are actually making an attempt out Kik’s ‘Kin’ digital forex and related utility for their very own utilization.
Kik, well-known for his or her common ad-free messaging service, had a extremely profitable $100 million ICO final yr.
The corporate’s Kin token is designed to assist customers get rewards for ending actions like surveys and quizzes and for watching interactive movies. Kik has teamed up with Blackhawk Community to additionally let customers commerce in rewards for reward playing cards from locations like Dominos, Nike, and Sephora.
Firms like Purple Bull and Swarovski have been not too long ago experimenting with Kin so as to give followers tokens in alternate for answering survey questions.
Now much more corporations have taken an curiosity in Kin’s unique Android app, Kinit, which was launched final month. It lets folks earn Kin by partaking with totally different manufacturers by way of quizzes and surveys, permitting customers to spend tokens because of a built-in pockets.
Plugging Into Kinit
Different messaging providers like Telegram have taken steps to create their very own cryptocurrency. However Kik’s providing is exclusive for a few causes.
The corporate determined to maneuver the Kin token from Ethereum to the Stellar community again in March since Stellar is designed for quicker transactions. Kik has additionally spent no less than $three million to get builders to work on the token by way of the ‘KinEcoststem.’ The Kinit app was designed to get extra folks used to Kik’s digital forex.
A rising variety of corporations are turning to Kinit to encourage extra consumer interplay. An Austrian firm referred to as Swelly makes use of Knit to hold out polls for manufacturers. CEO Peter Buchroithner stated providing cryptocurrency by way of Kin was one other option to additional reward clients who reply questions.
21st Century Fox’s ad-tech division, TrueX, can be using Kinit to present folks rewards after they watch 30-second ads.
Kik’s vp of communications, Rod McLeod, wrote how the aim behind Kinit is to assist make