The Kin Foundation, the creator of Kik Messenger and the Kin (KIN) cryptocurrency, is enticing developers to join in their plight for KIN centered digital economies through a Kin Developer Program that has a backing of $3 Million. These funds will be set aside to support 25 developers – or teams of developers – to create and maintain independent ‘Kin Economies’ over a six month period.
The Kin Foundation is looking for consumer apps that put Kin (KIN) at the center of the user experience as well as solving real-life problems for the customers. All a developer has to do is apply through the Kin Ecosystem website. Once accepted into the program, Developers stand to get grants of up to $60,000 and 400M in KIN as well as the necessary resources required to develop an application all the way to launching it and making it successful.
So how will this send the value of KIN through the roof?
As mentioned, the grants will be in the form of Kin (KIN). This means that the developers who are chosen for the program will have KIN to finance their developer efforts. This will include financing research, marketing, P.R and creating a ‘buzz’ around their projects. As a result, there will be more publicity for KIN which is currently valued at $0.00013 at the moment of writing this. This might look like a low value, but this fact allows KIN to be suited for microtransactions.
This then brings us to the second reason how the developer program will send Kin (KIN) through the roof. With these 25 KIN based mobile apps, comes the users who will want to try them out. They will have to use KIN in the apps. Therefore, there will be an increase in the demand for KIN in the next six months as consumers anticipate these new apps. An increase in demand with a constant supply of KIN means that the price of the coin will surely go up.
One needs only look at the past performance of KIN in the markets, to see its peak value of $0.0015 back in early January when the crypto-markets were in full throttle. This new developer program and the 25 apps that will come as a result, will guarantee KIN gets back to its winning ways.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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