KIN Chooses 40 Apps For Developer Incubator Program

The Kin Ecosystem Foundation has announced the selection of forty consumer apps that will take part in the first developer incubator edition. The Kin Ecosystem Foundation is the creators of the social media backed cryptocurrency Kik Interactive.

Harnessing The Abilities Of The Wider Developer Community

The announcement was made on Wednesday and indicated that the program had predominantly accepted new apps, singling out only forty applicants from the over two hundred who had applied for a spot in the program. Of the over two hundred applications, more than a dozen apps already had built up their active user bases to millions. The final chosen applicants were sixty percent more than the foundation initially wanted to get into the program.

The foundation has said that the point of the whole program is funding development of kin economies, an in-app that will use the available funds to support and promote the adoption of the Kik interactive cryptocurrency. Last year the foundation held an ICO which resulted in a total of $98 million being raised.

Dany Fishel, the Kin president, has said that the program would allow the foundation to tap the ability and creativity of the wider developer space and make positive strides towards becoming the most utilized digital coin in the globe. He added that the foundation has been receiving numerous proposals on new ways of integrating the Kin saying that they are looking forward to working with the developers in building more real situations where their users can utilize their cryptocurrencies.

Integration Of Kin In Other Apps

One of the projects which will be integrating the kin is Nearby. This is a social networking app that enables its users to socialize with the aim of making new friends. It has been reported that this app is looking to integrate the kin into its reward system which will then make earning and spending cryptocurrency on the platform possible for its users.

Nearby’s co-founder, Brian Hamachek, has said that the cryptocurrency space could potentially alter the development of consumer apps adding that the program has created the opportunity for developers to use a prominent digital coin in learning from experts in the crypto space while at the same time getting compensation for their effort. He also said that they are excited for the opportunity to come up with new avenues where Kin could be used, that would also build up the Kin Ecosystem.

Kin Used To Award User Activity

Another app taking part in the project is the WiCrypt, which is an internet sharing app. WiCrypt is looking to integrate Kin by allowing users to earn it everytime they share their mobile data with other users. The earned token can afterward be used to buy mobile data from other users.

The Kin Ecosystem Foundation will be awarding the program participants through cash and kin. The participants who will have reached their benchmark goals at the end of the program will receive cash and kin rewards totalling $115,000. The Foundation has reported that it will be giving out $4.8 million in incentives throughout the curse of the program.