Kin is a cryptocurrency which was created by the team which also built Kik. Kik is a popular messaging platform which has a customer base of over 300 million users. This company which was founded in 2009 has its presence felt in over 230 countries. 50% of the registered users are actively using the platform daily. On this ICO rating website, we will give an analysis of Kin and Kik.com.
The Kin token
The Kin token is an Ethereum-based crypto. The token uses the ERC-20 standard and it will be used as the primary transaction currency within Kik. The token will be used for daily online activities such as tipping, messaging, social media, and making payments. It will be a central feature when it comes to curation, commerce, merchants, developers and monetized content creation.
How does Kin work?
It was in 2015 when Kik introduced Kik Points. The points performed as a digital currency which could be used to buy in-app items and services. The evolution of the Kik Points led to the launch of the Kin token. The token will be used in the day-to-day activities by casual users within digital services. The aim is to reach many more millions of users while at the same time offering privacy and great customer experiences. The decentralized economy will enable everyone to earn KIN and spend it inside the Kik ecosystem.
The performance of Kik.com and Kin token
Kik Messenger is a Canadian company which offers freeware instant messaging app free of charge on Android and iOS smartphones. The firm has over the past 7 years grown to be a global force in messaging and social media. The firm decided to bypass venture capitalists and instead focus on an ICO for its Kin token where close to $100 million was raised.
After the launch in the last half of 2017, Kin token did not explode in value as some investors had anticipated. Even with all the Bitcoin frenzy in November and December, Kin only managed to move up from $0.000068 to $0.00016. However, On January 6th, the token touched an all-time high price of $0.00149. The token has since marginally and consistently dropped in value to trade at $0.00013 as of April 8th, 2018.
How does the future look like for Kin token and Kik.com?
Kik is similar in some ways to WeChat of China. WeChat platform has a customer base of close to a billion users as opposed to Kik’s which has 300 million users. WeChat has been successful, albeit only based in China because it has a widely used payment service for all kinds of stuff. Users of the network can pay their bills or buy goods and services from stores. Kik aims to achieve this. The Kin token will help Kik reach more customers but more importantly, offer blockchain benefits such as privacy and ease of use when buying or paying for items within the Kik ecosystem. Already with a customer base of 300+ million users, the Kin token is bound to become a success.