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Unity Gaming Engine to Integrate Kin Cryptocurrency

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KIN
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There is a tremendous amount of cross-over between avid gamers and cryptocurrency enthusiasts. Both are highly technical hobbies that involve knowledge of hardware and software. The recent announcement of a partnership between gaming engine Unity and Kik’s Kinship Foundation is unexpected, but not surprising. The agreement is mutually beneficial, and not just for Unity and Kik. The integration of cryptocurrency in gaming is a logical progression for the industry.

Unity is one of the most prolific game engines in the industry. They offer the tools necessary to make almost any type of game – and provide the backbone to many of the most popular games available. Their development kit is accessible to newcomers, but with enough depth to appeal to even Triple-A publishers.

Meanwhile, Kik operates one of the world’s most prolific messaging apps. Their recent creation of the Kinship Foundation brought them into the realm of cryptocurrency through the KIN token. The Kinship Foundation exists to further the aims of the Kin Reward Engine – monetizing digital applications in a way that preserves value for the user as well as the producer.

A Partnership that could Change Gaming

The partnership between Unity and the Kinship Foundation offers a new way for video game start-ups to monetize their games. The gaming industry is going through a change, much as movies and media have done before. The prior method of selling physical media at a brick-and-mortar store has almost completely evaporated. Digital distribution means are an increasing market share and cost substantially less. This cuts into the profit margin for gaming companies, and unfortunately makes indie games less viable.

The creation of the Kin Gaming SDK incorporates cryptocurrency monetization – something that creates a two-way road for gamers and developers. Developers can reward their players for engaging in the social media and promotional aspects of their games. They can provide KIN for impressive achievements or in-game events. Meanwhile, users can trade that KIN on open exchanges alongside other cryptocurrencies for real-world value. A unified digital currency allows KIN to be used inside any game that uses the SDK, a triumph of choice for the average gamer.

The Microtransaction Ecosystem

A controversial system since its inception, the microtransaction ecosystem for games has helped make up for shortfalls in gaming industry profits. Rather than simply buying a game at a one-time price, players have the option of buying in-game content at an additional price over time. Games that do this well, like Overwatch, restrict the purchased items to cosmetics. Players buy new skins for a nominal fee and can show these skins off to other players online.

The opposite side of the coin is industry giant Electronic Arts. Their egregious microtransaction systems created a social media firestorm that ultimately resulted in its complete abandonment. Part of this issue is a complete failure of comparison – something that the Kin Gaming SDK can fix. When there is a back and forth market for KIN that can be used in all games within the ecosystem, the choice becomes available. Games that attempt to fleece the players will find their bottom line impacted as gamers flock to other options.

The Immediate Result

It will take time for the Kin Gaming SDK to integrate into Unity’s system. In the short term, the Kinship Foundation will still benefit from this partnership through increased value to their currency. Unity will benefit from the intense public desire for blockchain integration. Companies like Kodak have found that simply announcing the integration of blockchain technology can cause a spike in stock value. Unity actually intends to use the technology as intended, which is a major bonus. For the cryptocurrency industry, this partnership represents another important step on the way towards public adoption.

We will be updating our subscribers as soon as we know more. For the latest on KIN, sign up below!

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.

Image courtesy of Chris Ainsworth via Flickr

Altcoins

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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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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