Kik rolled out its much anticipated standalone app, KinIt just a few months after it posted its product vision on Medium. The product is quite unique in that it has the potential to instantly become the largest consumer-facing cryptocurrency app.
Kin’s vision is quite ambitious but with more than $100 million in the bank form an ICO, and another $120.5 million in venture funding since the company (Kik) was founded they’ve got some serious firepower. All this money is on top of the 15 million monthly users on the Kik app.
The vision involves 3 different components, the first of which is what the company calls the “Kin Ecosystem“. The ecosystem includes partners such as Kik, Unity, Blackhawk Network and IMVU. The company also launched a developer program last Wednesday that will pay up to 25 developers a total of nearly $3 million to create and maintain independent “kin economies” over a 6 month period. The program sets up some ambitious goals for developers with them needing to onboard 50,000 monthly active wallets to receive the full amount of funds offered up by the contest.