The social influence measurement firm Kred, is set to launch its own cryptocurrency based social media platform called Crypto.Kred! Members will be able to create their own branded CKr (the symbol for the new coin) coins, share or sell them to others, as well as convert them to Ethereum to be cashed out on the open crypto exchanges. Existing members of Empire.Kred (Kred's social stock market game) will receive a free coin, a 2nd for a tweet, and the ability to buy new coins using a combination of Eaves (EK's platform specific currency) and cash. The initiative is currently being tested with Empire.Kred members, but those who're interested can sign up now to join the wait list.
The Krypto.Kred platform will apparently run separately from Empire.kred,but the two will be integrated in a number of ways. Existing Empire.Kred members will have the benefit of creating new coins with 50% Eaves and 50% cash. This is a great opportunity for existing members who have a ton of Eaves laying around. My brand Gamers Bay has a net worth of over eleven and a half billion Eaves in total investments! But it appears that Eaves will remain a separate currency from the CKr coins.
Besides the ability to personalize your own coins, you'll be able to sell those coins directly from the Krypto.Kred platform. Coin creators will have the ability to set the initial price for their coins, ranging from $0.01 up to $1.00. The default value will be set at $1.
The new Crypto.Kred app will run on PeopleBrowser's SocialOS framework, and will make use of the Stellar and Ethereum blockchains for recording ledgers. So, its essentially an app that runs on the exisiting blockchains. From there they can be converted to Ethereum. You'll be able to share, collect, and auction off your coins for a higher price. You'll also be able to share coins through SMS, email, as well as added integrations with Empire.Kred.
A white paper is still in the works but should be ready shortly.
Kred seems to stop short of calling it a cryptocurrency though. The platform states the the Kred coin is a new form of digital asset that acquires value based on the circulation trail of the coin, as well as social capital that comes with trading, holding, or gifting of the new coins.
As coins circulate they create a connected community that surrounds them, including past and present coin holders. Kred plans to reward active users of the platform with bonuses based on their engagement. Likes, comments, and passing of coins can all add value.
I just found out about this initiative, so I don't have all the facts yet, and I just signed up for the testing phase today as well. I will likely write a follow up after testing the platform to better understand how it operates and what users can expect. Here the official FAQ that can answer more questions about how the new Crypto.kred platform works: http://www.crypto.kred/faq
More updates are being shared by Lynn O'Connell in the Leaders Community on Empire.Kred. You'll need to have an account on the platform to access the community.
Written and published by Daniel Imbellino, co-founder of Strategic Social Networking! Connect with me on Google+:
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