One of the ways Kik could do this is by generating revenues from the brands that are involved in promoting surveys. The messaging app could achieve this by offering incentives for its users to share content. Currently, Kik holds an undisclosed amount of the Kin (KIN) cryptocurrency that was rolled out last year on the blockchain of Ethereum (ETH).

Kin Foundation to Oversee the Development

Development of KIN will be overseen by the Kin Foundation and the body recently announced that it was creating its own blockchain which will be a hybrid of Stellar (XLM) and Ethereum. Users will be able to buy the digital currency on crypto exchanges which they can then use to purchase emoji-like symbols or stickers which will be utilized in communication with other users of the platform.

About half a year ago brands were allowed by Kik to give users the digital currency after answering a survey or other small tasks. This was with a view of getting users of Kik to perform these activities and in the process earn digital currencies which they can they can spend online on gifting platforms such as Blackhawk which recently partnered with Kik. The ultimate goal is to offer redemption opportunities to various retailers including Home Depot, iTunes and Target. Per Frenkel, Kik aims to make Kin the most highly used digital currency in the world.