Will the ICC ICC make Kik successful in the field where Facebook can not break through?


nnnnIn order to integrate the encrypted currency and social media platform, Facebook has launched the “Facebook Credits” project, two years later but failed. After the user to use the social media platform GetGems tokens items suddenly disappear. Now the social media network Kik announced the upcoming ICO for similar projects. The pre-tentative launch of the Kik Points project, which has been replaced by the “Kin” tokens project. At this point the environment has been different with the facebook, and take some of the current coin project practice, hoping to achieve the integration of these two areas.n
nnTranslation: Annie_Xun
nSocial media network Kik is about to release ICO based on the etherfront, becoming the first mainstream social media network with encryption money.n
nAt present, the company’s venture capital is 100 million US dollars, the monthly active users 15 million, its reputation comes from the encouragement of user interaction system, the company seems to have the use of encrypted currency mature conditions.n
nBut this is not the first time such a creative, despite the huge number of users, with a few years ago, compared to 200 million registered users, or a lot of decline.n
nSimilar to the failure of the project, including Facebook, suddenly stopped in 2013 for two years, “Facebook Credits” project.n
nIn view of the obstacles to changing user behavior, Kik CEO and co-founder Ted Livingston opened a two-and-a-half year trial – Kik Points to see if the social media fans would be involved in transactions that others would not like to join.n
nAnnounced the results of the test last month, Livingston explained that last month published the test results, Livingston explained why these data eventually become the basis of social media and encrypted currency integration.n
nn”If we can make it successful, we can put the encrypted currency into Kik, the Kik Points into the block chain, to achieve the world’s largest and most widely used encryption currency.”n
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nData information n
nEstablished in 2009 in Canada, Kik raised $ 120 million in venture capital, including Union Square Ventures, RRE Ventures, and Adan Ludwin, a partner at Chain, was a corporate consultant.n
nAs early as 2011, Livingston said Kik wanted to use the encrypted currency, “profit from the consumer community”, do not have to insert ads in the page or sell virtual goods, these are past tried.n
nTo test this theory, the company launched the Kik Points in 2014 to measure the need for users to receive basic service fees related to each other’s products and see how these users have made such transactions.n
nThen on March 11, 2017, announced the “Kin” (Kik own encrypted currency) plan before closing the system.n
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nThe test results released in 2016, showing that Kik users completed a deal with a total of 253 million assignments, which included advertising, using these points for 74 million purchase transactions. The average daily trading volume of 300,000, the peak trading volume of 2.6 million pen.n
nLivingston said, “Two things are planned to test, one is whether the digital currency can stimulate selective advertising, and the other is whether we can build economies with digital money.We have tried two tests at the same time, our conclusion is two Are sure “.n
nThe main difference between Kik Points and Kin is that the token has a cap that minimizes the impact of inflation. The use of the ERC-20 standard means that the token can be transferred from the Kik ecology and consumed, or traded elsewhere, eventually converted to French.n
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nCan the results be transformed?n
nAlthough the user behavior seems to support the voluntary use of encrypted currency types of the system, history is still detrimental to Kik.n
nThe Next Web reported that in September 2013, when the Facebookbook closed the Credits project, the social network had been active in 8.74 months, more than the current number of Kik users 1,650%.n
nIn the 2012 blog, the book director of project management referred to the simplification of the French “purchase experience” and the increase in the usage of the original virtual currency in the facebook, which was the reason for closing Credits.n
nAlthough Facebook can not integrate native currency into social media, it is prominent in many projects, but it is not unique.n
nBy 2015, GetGems raised $ 1 million to create biting coins based on Bitcoin, who sent social media information, and then suddenly disappeared, and their final Skype chat group was dated July 2016.n
nHowever, since the integration of social media and native currency has changed a lot.n
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nIndustry evolutionn
nKik’s native currency, Kin, refers to the new ether-based ERC-20 standard, which makes this year’s currency ICO financing more than $ 300 million.n
nAfter the early project, companies such as Zcash and Ripple innovated by retaining a certain percentage of tokens, and Kik was going to follow suit.n
nLivingston says that Kik will retain 30% of the currency that will circulate.n
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nCompared with the time when the book closes the Credits service, the environment of the project has changed. A simple fact can explain that the market value of the market was $ 1.6 billion. Now the market price of $ 13, $ 33 billion.n
nAlthough Livingston did not disclose Kik’s current financial situation, he stressed that the hope that the currency can further harmonize the interests of users and companies, the company also hopes that they can develop products to bring benefits.n
nLivingston Summary:n
nn”We really see it as the whole ecosystem and our own new profit model, and our goal now is to maximize the popularity of this encrypted currency.”n

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