Kik Announces New Cryptocurrency Project
As technology advances, community support for online currencies increases. The next big digital currency might be Kik’s new Kin token. Kik is a text messaging app that allows people from all over the world to communicate through texts, free of charge. Many people use it when they travel abroad to contact their friends and family back home. After connecting to Wi-fi, Kik is accessible to users, and their use of the app will not reflect in their phone bill.
When Kik first announced their new Kin token concept, they were somewhat worried about whether or not they could gain support from investors. With bitcoin already taking the internet by storm, adding another digital currency doesn’t seem entirely feasible. They were wrong. Investors have been throwing their money at Kik, and the company has now raised a total of $50 million for their new concept.
However, Kik does not want to stop there. They are planning to raise $75 million extra during another public token distribution which will be opening next month. Some business moguls are not fond of the idea, but that has not stopped many investors from donating millions only because they feel it will raise the value of the app.
The biggest question Kik’s investors are asking is how exactly the app will manage to monetize this digital currency after its launch. The manager of special interests at Kik, Mr. Tanner Philp, commented on the question stating, “One of the areas of immediate opportunity is the over 100,000 bot developers, who have created over 180,000 bots. Those bots could be anything from entertainment to content creation games.”
What are these bots? Some of them have different purposes, but most bots are created to communicate naturally as a human would through a text messaging app. These bots also know a plethora of commands that users can ask the bots to complete. This includes giving a weather update, finding a restaurant nearby, ordering a pizza, and more.
Kik already has experience in this industry. Users can access these bots through Kik, and the app also used Kik points as a form of currency within their app previously to announcing their new Kin token concept. One investor, Mr. Ryan Zurrer, expressed his confidence in the apps next venture by saying, “For the first time, we have a project that checks all the boxes: compelling value proposition for users, deep technical skills, and a strong management structure.”