Kin, a cryptocurrency powered ecosystem that wants to help brands better connect with their customers, has received approval from Apple to launch their iOS app on the app store. Kinit, as it is called, was released on Google Play for Android last month and Kin says 15,000 users have already downloaded the app. Kin also integrates with their bespoke messenger app “Kik.” The company claims there are “now more people using Kin than there are users on all Ethereum dApps combined.”
Back in July of 2017, Kin raised around $100 million in an initial coin offering. Prior to the crowdsale, Kin received the backing of Blockchain Capital, Pantera Capital and Polychain Capital.
The description of the iOS App states:
Kinit is a fun, easy way to earn Kin, a new cryptocurrency made for your digital life. Earning Kin is just like playing a game, only better, because you get rewarded for completing fun daily activities like surveys, quizzes and more. Every day you’ll get new activities that will keep you earning Kin. As you do, your Kin is stored in your own hyper secure, blockchain based digital wallet (it’s like having your very own safe that no one has the key to but you).
The Kik messenger is the first service in the platforms ecosystem that will use the crypto as a method of exchange.
Kin expects the release to accelerate their learnings so their ecosystem partners can also successfully launch Kin in their apps on both iOS and Android devices.
A few companies are already testing the product, including; Red Bull, Swarovoski and Swelly. According to Adweek, Swelly thought about doing their own ICO and then decided to use Kik as a simpler, faster solution.
In a world where the user is the product and little compensation is earned by the big platforms that hoover up this data, Kin may be tapping into something that may work. Rewarding people for their time makes sense. While Kin may or may not accomplishes this goal, this may be more about a not if, but when.
