Canadian App Kik Released Its Crypto Service Kinit. What It’s About?
The messaging app Kik has released its beta service- Kinit. The product comes as a result of Kik’s profitable ICO.
The Canadian company managed to reach during the ICO period held in September 2017 around $ 100 million from over 10,000 partners based in 117 countries.
The new beta product Kinit is a crypto wallet dedicated to improving the user experience. Using the wallet’s services, these are able to collect Kin tokens by answering questionnaires and viewing different videos. The collected tokens can be later used to buy gift cards or trade them between Kinit members.
Rod McLeod, Kik’s VP of communications claimed:
“Kinit is the first publicly available app dedicated to Kin. Our goal with Kinit is to get Kin into more consumers’ hands. It’s a major step towards making crypto truly consumer-friendly through fun and engaging experiences, and we plan to learn and iterate based on real-world user behavior…”
Kin is an ERC20 token
Kin was developed on the ERC20 token fundamentals, respectively on the Ethereum blockchain to ensure currency liquidity. Furthermore, it was set on the Stellar network to ensure a reduced transaction processing time. As reported by TechCrunch, Kin is investing nearly $ 3 million to upgrade the token system.
The Kik network is constantly involved in expanding its services. In March, the company announced it intends to collaborate with Unity Technologies video gaming platform in order to integrate its Kin token within the gaming industry. A spokesperson revealed this collaboration will “bring cryptocurrency to millions of gaming developers“.
According to CoinMarketCap, Kin token has a market cap of $138,700,805 and is traded at $0.000183, up 10.10%.