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Kik launches beta product after $100 million ICO

Kik made waves final 12 months after a successful $100 million ICO. Now the corporate has launched its first beta product associated to its Kin token. Called Kinit, it’s a easy pockets that allows customers to earn, retailer, and spend its tokens.

“Kinit is a fun, easy way to earn Kin, a new cryptocurrency made for your digital life. Earning Kin is just like playing a game, only better, because you get rewarded for completing fun daily activities like surveys, quizzes, interactive videos and more,” reads the Google Play Store description. You can obtain the app for Android here.

The Kin token is exclusive for a number of causes. First it isn’t a standard ERC-20 token and is as a substitute makes use of Ethereum for liquidity and the on the Stellar community to enhance transaction pace. Further, the corporate is spending an important deal – about $three million – to get builders to develop on the token by its KinEcosystem web site. The Kinit app is the primary effort to get regular customers to undertake the device.

The app makes it potential for customers to generate a number of {dollars} in worth per day after which trade these {dollars} for present playing cards and perks. According to CCN, Kik has created a product with out a enterprise mannequin and as a substitute it needs to drive the adoption of the token by giveaways.

“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. We’re excited to get even more people earning and spending Kin — all on the Kin Blockchain,” wrote Rod McLeod, Kik’s VP of communications. The app presently asks you to finish surveys with a purpose to get reductions and present card codes for merchandise.

With the rise of the product-less ICO it’s clear that Kik has the fitting concept. By encouraging utilization they drive up the token worth and token velocity and by launching a common beta filled with cutesy imagery and textual content they can keep away from the laborious questions on developer adoption till far into the long run. While the KinIt app might be not what most Kin holders needed to see, it’s no less than an interim answer whereas the staff builds out sturdier methods.

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