Kinit is the new beta product released by the Kik messaging app
Kinit is the new product launched by the Canadian messaging app Kik, which is related to the company’s kin token, TechCrunch reported on 18th July. The Kik’s Initial coin offering (ICO) Which raised 100 million.
The ICO concluded in September 2017, more than 10,000 participants from 117 countries helped to raise $100 million. Initially, the company expected to raise $125 million.
The Kinit i designed for the active user experience, by completing the given quizzes surveys, watching interactive videos the user can earn Kin, The kin can be exchanged for gift card from leading brands and retailers, as well as they can transfer the tokens to one another within the Kinit. Rod mcLeod, Kik’s vice president of communication has commented on the release:
“Kinit is the first publicly available app dedicated to Kin. The goal is to get Kin into more customer’s hand. The main aim is to make the cryptocurrency consumer friendly through fun and engaging experiences”
Kin is an ERC20 token based on the Ethereum Blockchain for liquidity assurance and is deployed on the Stellar network to increase transaction speeds. According to TechCrunch, the company is spending around $3 million on the development of token viqa it’s Kin Ecosystem site. Kinit is the first effort to get the common user to adopt to the tool.
The Unity Technology a gaming company has plan of partnering with Kinit to adopt Kin token through the gaming industry. As a kik spokesperson told Cointelegraph, the upcoming partnership with unity will “bring cryptocurrency to millions of gaming developers,” enabling token integration into games with the help of a customised gaming specific software development kit (SDK) developed by Kk
At press time, Kin token id trading at $0.000170, with market capitalization of $128 million, according to Coinmarketcap.