Kik’s Kin ecosystem continues to expand with the release of the Kinit interactive wallet app. Released on June 17th, the new app allows users to complete surveys and view videos to earn the native Kin cryptocurrency. In addition, it serves as a robust Kin wallet that can store and transfer the currency between users. Their announcement also stated that more features would be coming soon.
Based in Canada, Kik is a major player in the online messaging sphere and one of the first to truly embrace cryptocurrency. Using a unique, non-profit approach, Kik created the Kin Foundation to further the use cases for their cryptocurrency. To this end, they are actively working to integrate the Kin Reward Engine in a variety of industries – including social media and gaming.
What is Kinit?
The idea behind Kinit is simple, offering a sum of Kin for interaction with certain value-adding activities within the app. Surveys help marketers determine the best approach vector for interacting with their customers – and said customers are rewarded for their participation. In the same sense, interactive videos provide a strong incentive to view advertisements entirely. The Basic Attention Token (BAT) is proving that attention can be monetized, and Kin’s new app capitalizes on that fact.
Overall, the app’s stated purpose is to encourage users to adopt Kin tokens. Essentially providing the currency for free without an airdrop, Kinit is a strong tool for brand amplification. It is sure to encourage positive perception of the currency, while presumably profiting from the customer base’s surveys and advertising susceptibility. Where other blockchain companies are trying to edge their way into the market, Kik is establishing itself as a usable currency by showing – not telling.
Other Product Integrations
Kinit is not the first large scale use of the Kin token. Earlier this year, the Kin Foundation partnered with gaming powerhouse Unity. Together, they integrated the Kin Reward Engine with Unity’s software development kit to allow game developers access to the Kin ecosystem. Using a simple set of tools, they can integrate the Kin token as an in-game reward for their players.
Just last month, Kin worked with the IMVU social site to set up a cryptocurrency payment system. IMVU users can adopt a 3D avatar to represent them within the site, with accessories costing IMVU ‘Credits’. Now, IMVU also offers the use of Kin for payment – providing the opportunity for content creators to earn tokens that can be exchanged for real world value.
Article By: Adam Stone