The Kin Ecosystem Foundation, creator of cryptocurrency supported by social media company Kik Interactive, has selected 40 consumer apps to attend its inaugural edition of the development incubator.
Announced Wednesday, the program, which will fund 40 of the more than 200 projects that have submitted applications, will present mainly new apps, although it has attracted more than a dozen apps that already have an active user base that counts millions. This is also 60% more than the 25 projects that the foundation had initially planned to accept in the program.
The objective of the program is to finance the development of miniature in-app in-app economics, booting on the adoption of cryptocurrency that has raised $ 98 million through an initial offer of coins (ICO).
"The Kin Developer Program allows us to leverage the creativity of the global developer community to achieve our goal of becoming the most widely used cryptocurrency in the world," said Dany Fishel, president of Kin. "We have received proposals that provide for the integration of Kin in new and exciting ways, and we look forward to working with these developers to build real consumer cryptocurrency cases."
One of these projects is nearby, a "social networking app" that helps users make new friends – think "Tinder for friendship" – and plans to replace his current rewards system with relatives, allowing its millions of users to earn and spend the cryptocurrency within the app.
the potential to radically change the way developers build consumer apps, "said Brian Hamachek, co-founder of Nearby." This program gives us the opportunity to use a leading cryptocurrency and learn from experts in space, despite being compensated for our efforts. We are excited to create new Kin use cases that contribute to the growth of the Kin Ecosystem. "
Another participant project, WiCrypt, plans to integrate relatives into its peer-to-peer Internet sharing app. Users can earn relatives by sharing their mobile data with others or by using tokens to purchase the & # 39; Internet access from another WiCrypt user.
In addition to the mentoring of the Kin Ecosystem Foundation, projects will receive $ 15,000 and 50 million kin (~ $ 7,000) following a demonstration day in early October. reference targets during the six-month program, can earn up to $ 115,000 in cash and relatives.Together, the foundation plans to distribute approximately $ 3 million in incentives.
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