Kik Interactive, the creator of the popular chat platform Kik, has announced that the Kin token distribution event (TDE) has successfully ended, raising nearly $100 million. With more than 10,000 people from 117 countries participating, this shows that the Chinese ICO ban did not stifle global enthusiasm for token sales.
“We wanted as many people as possible to participate in the Kin token distribution event. Based on the outpouring of support leading up to and during the event, we clearly achieved that goal,” said Ted Livingston, founder and CEO of Kik. “We envision Kin as the foundation for a decentralized ecosystem of digital services, starting with Kik, and we couldn’t be more thrilled than to build this new future together with you.”
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Livingston recently talked with Finance Magnates about the ICO and the project. Watch the interview here:
Kin is an ERC20 token on the Ethereum blockchain that will be integrated into Kik as the primary transaction currency. By integrating Kin into Kik’s chat platform, which has millions of users, to drive mainstream consumer adoption, Kin has the potential to become the most widely used cryptocurrency in the world. Eventually, the Kin Rewards Engine, an innovative crypto-economic structure intended to promote the use of Kin as a common currency, administered by the Kin Foundation, will foster the creation and development of a worldwide, decentralized ecosystem of digital services.
Kik Messenger has over 300 million registered users, and is mostly popular with teenagers. It is known for features preserving users’ anonymity, such as allowing registration without a telephone number.