Kin token event by Kik
Just a couple of months ago the globally used messenger app known as ‘Kik’ announced they would be launching a token distribution event for the ‘Kin’ Tokens. The tokens would be the digital currency which would be implemented on Kik messenger.
Kik has over 15 million active users from all around the world, it is fair to say this was one of the most highly anticipated ICO’s of 2017. It therefore came as quite a shock when they only raised 66% of the $75 million they had hoped to raise. Nevertheless, this was still an impressive sum. $50 million was raised from just over 10,000 individuals across 117 countries. This lack of funding could simply have been the timing of the Chinese government banning all ICO’s.
There was still high hopes for the project given the fact it had the team over at Kik behind it, not to mention partners in Pantera, Blockchain Capital and Polychain Capital. It is therefore disappointing to see that there has been no updates on the official Kin website and this is causing speculators to question the entire project as a whole.
There may still be hope
Take into account that it is still early days and the implementation of this project may just take some time. There are also a few positives to factor in:
- As the token distribution event only sold 2/3 of the allocated 1 trillion tokens, the remainder of the tokens were re-distributed to the initial investors. Therefore if the value does start to increase you are going to be a lot better of.
- Kik has 15 million active users. Around 60% of which are aged 13-24, this target demographic is ther kids of tomorrow who are going to grow up with blockchain technology and digital currencies. So once Kin is I used actively on Kik we could see the value increase
- You can already access a preview of the Kin wallet on Kik messenger if you have an account. This may or may not be a positive but they are making a start at least.
We will keep you updated on any more updates we find out, let us know what you think
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