Kin Partners with IMVU, the World’s Largest Avatar-Based Social Network
The network will enable users to earn Kin tokens on platforms like Kik and IMVU which can then be spent on services offered by other partners, namely Blackhawk Network, a major e-giftcard vendor giving users access to services like Netflix and Xbox Live. The partnership will connect IMVU to other services using Kin, and allow IMVU users to earn on their platform where an average user spends almost an hour a day customizing avatars and interacting with other users.
While IMVU allows users to exchange IMVU Credits for fiat currency within the IMVU marketplace, the new partnership aims to open that closed ecosystem to a wider marketplace by connecting IMVU users to other apps and services connected to Kin. “One of the things that we look at from the partnership is how does IMVU complement Kin’s ecosystem in a meaningful way, and how does that partnership accelerate the usage of Kin and the transaction volume of Kin. First, IMVU has a very strong content creator userbase. We’ve got 50,000 people on IMVU earning a living creating digital products,” the Kik executive said, adding:
“This gives us the opportunity to unlock that earning potential to unlock that earning potential and create a network effect across digital services.”
IMVU users will be able to activate wallets, allowing them to earn Kin tokens by participating in polls and other services and then spend the Kin on virtual goods in IMVU or e-gift card offers.
“We really look to our Creators’ success as a mark of the platform’s success,” says Victor Zaud, senior vice president of marketing at IMVU. “Our Creators are incredibly creative, so we try hard to focus on empowering them further through content programs that reward their content creation.”
Half of IMVU users transact on the IMVU platform every month, and over half of them already use Kik, a connection that the teams feel will create a seamless transition into Kin adoption. While an estimated 90% of cryptocurrency users are male, over 70% of IMVU users are female which may also enable Kin to reach an untapped demographic of female content creators and community members.