With the price of one Bitcoin valuing more than $2300, the messaging platform called “Kik” decided to introduce its own cryptocurrency in the market.
The latest cryptocurrency “Kin” can be used to pay for various services on Kik’s platform, as declared on Thursday.
Opportunities offered by Kin
Users of Kik will be able to buy digital products, video games and live stream videos using Kin. Moreover, Kin will be created on the Ethereum blockchain- the imminent competitor of Bitcoin. Kin will be available later this year.
The CEO of Kik Ted Livingstone said,
“Kik will be the largest install base of cryptocurrency users in the world”
Kik has managed to raise $120m so far (in real money) from its investors like Tencent Holdings Ltd to strengthen Kik’s authenticity. This will eventually attract more wealthy investors that raise the possibility of Kin’s greater valuation.
Current user base of Kik
Kik revealed its number of daily users, which is 15 million now. Significantly lower than 300 million total registered users of the app.
Unlike Whatsapp or Messenger, Kik does not require a cell phone number to function. So parents, be aware!
Ted Livingstone continued,
“We will create an economy where millions and millions of mainstream consumers are earning in a cryptocurrency for the first time ever’’
Kin will be awarded to users so they can buy video games and digital gadgets online with it. Eventually for attracting more sellers to place their items on Kik and to bring in more potential users on its platform.
Image Courtesy: Tech4Gamers
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