Mobile messenger Kik raised $ 50 million before ICO Mobile messenger Kik raised $ 50 million in a private sale of its Ethereum token Kin, which was attended by corporate investors, which included Blockchain Capital, Pantera Capital and Polychain Capital. CoinDesk writes about it.

Mobile messenger Kik received $ 50 million before ICO

Mobile messenger Kik raised $ 50 million in a private sale of its Ethereum token Kin, which was attended by corporate investors, including Blockchain Capital, Pantera Capital and Polychain Capital. Writes about this CoinDesk.

This event is of particular importance as Kik is likely to become the first well-known project to release and distribute its own cryptocurrency. Kik executives say 15 million people are actively using the app, 60% of whom are in the 13-24 age group. The company announced the release of the token back in June, faced with the reaction of skeptics, who said that the idea of ​​encouraging user participation in social networks using a points system had already been tested and proved to be ineffective..

The company is not going to be limited to $ 50 million and intends to conduct an ICO next month, during which it expects to raise another $ 75 million by selling 1 trillion Kin tokens. A total of 10 trillion tokens will be issued. In total, the company is going to raise $ 125 million.

Tanner Philip, Kik Special Programs Manager, stated that the main purpose of the Kin token is to become a universal cryptocurrency, which can be held by users and application developers, as well as content creators..

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