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Kik Launches $3 Million Developer Fund to Create 25 Kin Marketplaces

Kik Launches $3 Million Developer Fund to Create 25 Kin Marketplaces

Reading Time: 2 minutes by on July 16, 2018 Altcoins, Business, Development, News, Tech
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The Kin Foundation on July 11, 2018, began accepting applications for the Kin Developer Program, which will pay up to 25 developers a total of $3 million to create and maintain independent “kin economies” during six months.

Kin Developer Program: An Opportunity for Developers and Users

The people who brought us Kik messenger and the KIN cryptocurrency now seem to want to reactivate the virtual market around their code.

Assuming you’re a developer and you’re accepted into the Kin Developer Program. This title would be an excellent opportunity for you as you would receive a generous grant in the amount of up to $116,000 and other resources for creating apps based on the Kin Ecosystem SDK, including the Kin Marketplace. All this money would be paid in a combination of USD and KIN tokens ($60,000 and 400M KIN).

To even be considered for the program, the applicants must implement at least one custom peer-to-peer (P2P) or spending opportunity app. The application process is open until August 10, 2018.

The apps should provide users with in-app opportunities to earn and spend kin in virtual environments while receiving personal mentorship over the entire duration of the program.

With KIN, the Consumer Comes First

In May 2017, Kik messenger announced the virtual currency as a first step to launching a decentralized ecosystem of digital services. In September that same year, their token sale concluded, raising nearly $100 million from 10,026 individuals in 117 countries. Kik began KIN integration in the fourth quarter of 2017, only to have select digital services join Kin Ecosystem in the first quarter of 2018.

The goal of the KIN cryptocurrency is to create an alternative and open ecosystem of digital services and tools for digital communication and commerce that would put consumer experience in the first place. To achieve this goal, Kin needs to align a large group of partners, developers economically, and users to work together to form an ecosystem. Spokespeople behind Kik explained:

“Digital services, such as chat apps and social networks, are bringing together communications, information, and commerce in new and unprecedented ways. For future generations, digital services will be a natural and core aspect of their daily lives. We believe that a broad group of participants can come together to create an open ecosystem of tools for digital communication and commerce that prioritizes consumer experience. That’s why Kin was created.”

According to its creators, KIN is the world’s most consumer-ready cryptocurrency. It was built with a blockchain solution that supports over one million daily transactions.

The Kin Ecosystem SDK also allows for quick and easy integration with the Kin platform. This provides users with new opportunities to earn and spend KIN from inside an app or from the Kin Marketplace offer window.

As a developer with an app, you create a Stellar account and wallet for every user. By calling the appropriate SDK functions, your app performs users’ buy and sell transactions using their wallet object. Users can monitor their account balance and transaction history.

Kik messenger, or more commonly called Kik, is a freeware instant messaging mobile app that comes to us from the Canadian company Kik Interactive. The app is available for iOS and Android devices.

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