Kik Develops Kinit Wallet App for its Kin Token
Messaging app Kik has a new product for its users, a digital wallet named Kinit, which they can use for purposes of earn the family token, KIN. Multi-vertical technology players across Canada are exploring functionalities which will offer its users integrated solutions.
Kik is a Canadian messaging app and has been building a cross-section of products in the technology space, beginning with ‘Kik’ the messaging app, following it up with a crypto token ‘Kin’ and now a wallet to complete the platform with ‘Kinit.’
Kik had launched crypto token Kin, in September of 2017 and raised $100 million in over 117 countries. The number of participants for this token issue stands at 10,000 and is a captive user base which is informed about cryptocurrency and waiting to be engaged for further crypto services.
Kin is a token built on Ethereum blockchain and is an ERC20 integrated with the blockchain for collateral and on Stellar for speed-enabled transactions. Media outlets indicate that the total spent thus far has been $3 million, used for development of the token on its KinEcosystem. Hence, the tool will focus on appealing to the ‘masses’ or the non-platform users, providing an opportunity for curious crypto explorers. To further expand and add to their experience Kinit was developed.
Knit is positioned as an experience enhancing wallet as it will allow users of the kik app to participate in quizzes, surveys and interact on videos. In the process, the users have the opportunity to exchange Kin Tokens for gift cards. Kik has roped in several retailers and brands to promote their products the crypto-centric platform, allowing traditional advertisers to reach the digital audience. At the same time, users of the app will be able to pay or give each other tokens and transfer them to other Kinit members.
Kik’s Vice President of Communications, Rod McLeod said, “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…”
Kik is adding further scope to its platform an ongoing process by collaborating with gaming industry giant – Unity Technologies. The latter is a video gaming company and has been exploring the crypto environment by offering tokens. Unity will bring to Kik millions of gaming developers, the opportunity to integrate cryptocurrencies into their games. Unity has been building a system for such integration by offering game –focused developer kit or SDK on kik. Kin has had a successful ICO debut and is trending with a market capitalization of $128 million.
Token Kin gets Kinit Wallet
With a focus on building seamless experience across its products, developer of ‘Token Kin,’ Kik has added a wallet Kinit. The purpose of the wallet it to provide the captive user base of the messaging app an opportunity to earn Kin by engaging in various activities such as quizzes and interactive videos.