Kin Ecosystem’s Strategic Partnership
First the Kin Foundation struck a deal that, they claim, will make their cryptocurrency the most used by year-end. According to The Next Web, the Foundation partnered with Perfect365 in a deal that will market their cryptocurrency to women. Perfect365 is a smartphone application which allows users to edit their pictures. In addition, Perfect365 offers beauty tips. Interestingly, the app has Virtual Reality (VR) features which guide the users during editing of images. According to company statistics, more 90% of the Perfect365 users are women. In the new partnership, users will earn Kin cryptocurrency as they use the platform.
Will Women Provide Boost?
Market statistics indicate that most of cryptocurrency users are men. In fact, BitcoinExchangeGuide predicts that Kin may become the most used cryptocurrency by 2019. This is quite an important morale boost for the team behind the cryptocurrency.
On the other hand, Kin posted very poor performance in the months leading up to July. In fact, Captainaltcoin.com reports that the cryptocurrency is just making a revival after a poor start. According to the publication, the token saw its price bottom out at $0.000119 USD/2 satoshi in first week of July. However, to be fair, most digital tokens performed poorly over the same period.
Therefore, in the following weeks, the Kin Ecosystem embarked on initiatives to help prop the token. Also, the strategy involves driving up the usage of the token. In this view, the ecosystem now has a new Chief Marketing Officer (CMO). According to the Cointelegraph, the new CMO will be responsible to drive up the adoption rates for the Kin cryptocurrency. Additionally, his team will play intermediary between Kin ecosystem users and the developers.
By and large, analysts hope that Kin will perform well going forward. Particularly, the cryptocurrency space is gaining global attention as more entities join the community. In fact, CryptoCoin reporter reveals that there may be regulatory certainty for the crypto-space around the corner. Kin enthusiasts explain that the token has more potential for wider adoption than Bitcoin. This is for the reason that unlike Bitcoin and other altcoins, Kin is not a coin. They say Kin is just an application built on top two other blockchains. In this case it is Stellar and Ethereum. As per the enthusiasts, Bitcoin seeks to solve a problem users do not have.