Canadian messaging app Kik announced today that it will use cryptocurrency tokens as the primary transaction currency on the platform.
Kik was founded in 2009 with the goal of creating a multi platform chat application.
Kik is an instant messaging mobile app that allows users to send and receive messages without registering a phone number.
The application is predominantly used by teens and young adults.
"Today, Kik is the best way to connect with friends, no matter where you meet them. But it’s also become so much more. As the only chat platform built especially for teens and as a clear leader in chatbots, Kik will become the central hub for everyday life for teens across the world as we grow." Source
Kik currently boasts 15 million active monthly users.
Kik is creating a digital currency called kin to use for internal “communications, information and commerce.”
"Kin will take the form of an ERC20 token issued on the Ethereum Blockchain." Source
"Kin will be integrated into the Kik platform this summer or later this year following a token distribution event and the sale of 10 percent of Kin reserves." Source
Kik will provide integrated Kin wallets for transactions. Users will be able to earn and make purchases within the messaging app.
ICOs everyone is doing it! With mainstream financial sites starting to talk about ICOs you can be sure we are in an ICO golden age. Unregulated and booming, Initial Coin Offerings (ICO) took in over $300 million in investments in the past year Expect this trend to continue.
As Steemians we all understand the value and potential of social media built on blockchain and fueled by cryptocurrency, but the rest of the world is playing catch up.
Expect to see more apps using in app tokens or cryptos to reward users and advertisers.
This is one of the reasons why Steemit needs to make increase its marketing push and establish a foothold in the space. Competition is coming!
Check out Kik to learn more
