Kik Interactive, the founders and owners of the Kik chatting platform yesterday announced that their Kin token distribution event (TDE) will begin on Tuesday 12th September, 2017 at 9.00AM ET. The Kik team in its announcement made it known that it had closed a presale round of $50 Million to a select group of institutional investors such as Pantera Capital, Polychain Capital and Blockchain Capital. The aim is for Kik to raise a total of $125 Million in its token sale.
Kik Highlights an Investor Might Want To Consider Before Purchasing Kin Tokens…
- Kik messenger is currently available in over 230 countries worldwide
- Kik has over 300 Million registered users and 50% of these are active daily users
- Kik has an estimated 40% of American teens and young adults signed on to it
The above figures and demography show that the platform already has a huge user base as such its tokens are likely to be in high demand and circulation.
Users of the Kik messaging platform will recall that it started rewarding community members with Kik points in the year 2015. Kik points have served as the community’s digital currency and have been used for purchases in-app and within the community. This is what the platform is building on to expand the reach of its internal community digital currency beyond the scope of just the Kik messenger app, but to make it available to the larger crypto community.
The Kin token an Ethereum based ERC20 token is Kik’s vehicle to making its Kik points available to the larger world. With an already large user base, Kik’s Kin token is well-positioned to be patronized by millions of people around the world. The Kin seems to be mirroring China’s WeChat that has over 800 million users. WeChat goes beyond being a simple messaging platform but it is also used as an avenue for e-commerce transactions. All indications point to the fact that Kik might to an extent replicate a WeChat-styled operation and this means that there is a high potential for Kin tokens to be quite profitable.
The ICO’s fundamentals are solid due to the fact unlike a number of ICO projects, the company has been in existence for years prior to this fundraiser. There has also been proof-of-concept and proven record of revenue generation. There is already a solid team backing the project – most members of the team have worked together for years and as such will have great telepathy to their advantage.
But… the token distribution ratio seems to turn some heads with only 10% being made available to the public during the ICO event and the distribution of the remaining 90% has not been made clear to most people.
This notwithstanding the ICO’s modus operandi seems to be prepping up the value of Kin to get really high. Kin’s crowdsale site requires a relatively strict KYC regime as compared to what generally pertains with most blockchain fundraising campaigns. To participate, investors are required to provide their full names, government IDs and other personal information. This might cause a number of investors to shy away from the Initial Coin Offering leaving it to whales and large investors who will likely buy large amounts of Kin tokens and have huge control on its pricing as soon as they are available on exchanges. It is also likely that a lot of people who shied away from the crowdsale due to the KYC requirements might want to get their hands on kin tokens as soon as they are available on exchanges. The value of the tokens will likely see a quick appreciation as a result.
For more details, follow the Kin ICO here.