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Kik’s Kin set to be used on the world’s largest 3D Social Network

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The world of virtual reality is coming of age quickly especially with the advent of robust internet connections. From the likes of Facebook and Instagram profiles, it almost seems as if you cannot exist without a digital virtual presence. One company by the name of IMVU is taking this concept to a whole new level with a platform that allows you to do more than just chart.

Already, there are over 4 million people visiting IMVU to spend about 55 minutes building their virtual profiles, charting with other platform users and shopping or doing other activities that you would normally do in the real world. In fact, there are about 50,000 people on IMVU earning a living on the avatar-based social network giant platform.

Given that users on IMVU generate over 15 million transactions, spending billions using IMVU’s native credits, a move by Kik ( the company backing Kin Coin) will enable Kin coin’s integration into the IMVU system whereby users will be able to earn cryptocurrencies and exchange for fiat currency on the platform.

More about IMVU

IMVU boasts of millions of users on its platform with about 40 percent coming from the US and 60 percent from the UK, France, Brazil, and Canada. The platform was rated top most visited app by teens in 2017 according to comScore. Users on the platforms can create and sell their own digital goods or interact with other platforms users while building up meaningful relationships. Compared to Facebook, Twitter, Snap chat and YouTube, IMVU targets a young audience who spend more time on its platform than any of the major social media platforms.

The partnership between IMVU and Kik (the messenger service) will enable the integration of the Kin coin into the IMVU ecosystem. Basically, users will be able to earn Kin tokens and do more on IMVU as well as on Kin’s marketplace. To make it even more exciting, the audiences of both Kik and IMVU are strategically aligned and highly complementary to one another considering the fact that more than half of IMVU users are also Kik users.

How the platform is set to work

IMVU and Kik have set up a partner experience with companies like Blackhawk network to give platforms users access to services like Xbox live, Unity and Netflix. To get started on the platform, however, there are a couple of requirements. After users have activated their Kin wallet, they will be able to earn Kin tokens to later spend on a variety of offers. This partnership presents an opportunity for mass adoption of the Kin cryptocurrency since the IMVU platform inculcates a number of incentives that users will have access to on registration. Furthermore, users will also be allowed to participate in polls and other content programs that reward creators on the platform.

Last word

The partnership with IMVU and Kik is set to be a game changer not only in the crypto space but in the social media industry as well. These two platforms are set apart by the fact that they allow creators to make a living from their content while also facilitating meaningful friendships and bonding opportunities for users. By adding Kin to the platform, IMVU and Kik users will manage to build thriving virtual communities that will develop a sharing culture.

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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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