The number of mobile applications created around Kin, which is a virtual coin designed and launched by Kik, a mobile messaging app, is really growing.
Quick Summary About Kin
Kin was designed by Kik, which is a Canadian messaging application company. In an effort to bootstrap the project, Kik was able to raise $98 million in one of the biggest Initial Coin Offerings that occurred in 2017. Fast track to the summer of 2018, the company has announced that it would support teams that are creating applications designed to enable users to use and earn its token. As of now, ten mobile applications are already out and more will be made available as the iOS and Google Play Stores continue to approve them. Above all, not less than thirty applications are expected to debut in the coming few weeks. According to the project manager working on the Kin Ecosystem, Ayelet Laub, they are trying to come up with an ecosystem that can earn the users kin tokens in one application and be able to spend it in another.
Amazing Features In The New Applications
A number of the applications that are being introduced fall in the category of classic categories with which most mobile users will familiarize themselves with. These applications, fortunately, do not have to compete entirely on user experience and cool factor like a number of them do, since the kin-supported apps pay the users directly for their participation. In other terms, kin should be viewed as a way of which users are incentivized to get the apps fired up and take part. The applications that are currently live on Google Play are Kinguist [language learning], Revealed [dating], AddMe [business networking], GoChallenge.me [social goals], and Pause For, which is a productivity app. Others are Blastchat, an instant chat messaging app, Vent for mental health, Nearby, a networking app, and Find, which is a travel network.
More Teams Have Joined
Over 200 teams have applied to join the program. Out of this number, 40 were picked ultimately and 32 finally made it to the finals. They had an opportunity to submit their applications to either the iOS and Google Play stores. Supporting these programs were development grants that included kin allocations used to attract the users.
Kik’s founder, Ted Livingston has repeatedly said that it desires kin to grow and become the most applied virtual coin on the planet, where the internet users find it easy to both earn and spend it. The theory that works behind this is that if every little amount of money can be easily and freely traded over the internet, many more people will spend money generally. It can be remembered that Kin was initially designed for Ethereum, but it has since moved a number of its functionality over to Stellar blockchain’ fork. This is because Kik was initially designed to process a number of transactions just for free. Through that, Kin could run in several mobile apps all at once.