Following much speculation over the fate of the once-popular messaging app, it is finally clear now that Kik Messenger won’t be discontinued — at least not in the immediate future.
The clarification comes weeks after Kik Interactive stated that it was shutting down the messaging app to focus entirely on the company’s maiden venture into the cryptocurrency space.
Just a day before the app was slated to be officially discontinued, MediaLab, a US-based holding company confirmed it has acquired Kik Messenger. Neither companies have so far disclosed the terms of the agreement.
However, a few important updates were shared with the Kik community including the possibility of the messenger’s integration with Kik Interactive’s homegrown cryptocurrency.
Crypto for Ads
In a blog post dated Oct 18, MediaLab confirmed that it is officially taking over Kik Messenger. The company vouched that not only will the app remain up and running, but users can also expect a superior experience. Specifically, MediaLabs promised that it will make Kik Messenger “faster, more reliable, [and] less buggy.”
However, to get to that point, the company added, users might have to trade-off the ad-free experience at initial stages. Apparently, this is to ensure a cash-flow that can help them maintain messaging service. The ads, it assured, will be “non-intrusive.”
Other major changes include the omission of the video toggle and third-party bots (not including the popular RageBot)
Additionally, MediaLab also acknowledged that it plans on integrating Kin (KIN), Kik’s homegrown cryptocurrency, into the platform.
The company noted:
“We are fans of Kin and believe in its long term potential. We are excited to further partner with [Kik founder] Ted and his team on expanding the Kin integration and have plans to further support the project.”
No further explanation was given regarding Kin’s potential role in the instant messaging platform.
Push for Kin’s Adoption Despite Ongoing SEC Scuffle
Kik Interactive is currently locked in a lingering legal battle with the US Securities and Exchange Commission (SEC) over its controversial initial coin offering (ICO) in June 2017. as BeInCrypto has previously reported. The company raised $100 million from 10,000 investors during the ICO, which the SEC alleges was unregistered and violated securities laws.
Kik Interactive dismisses the allegation on the ground that as “the most-used cryptocurrency in the world,” with a user-base that goes as high as 250,000 or more, Kin is essentially a currency and not a security as claimed by the regulatory body in court documents.
Earlier in September, Kik’s founder and CEO Ted Livington wrote in a blog post that the prolonged legal dispute over the legitimacy of the company’s ICO has rendered him with no other choice but to pull the plug on the messaging platform.
Despite being bogged down by legal challenges, the Kin developers team seems to be doing a decent job pushing for the asset’s adoption. On Sep 24, the team announced the #KinChallenge to encourage the integration of KIN in third-party apps and games.
— desrocm (@desrocm) October 17, 2019
The winner, to be decided by the Kin community, stands a chance to win $5,000. As of Oct 17, a total of 27 apps have integrated Kin into their ecosystems, with 13 of them already live.
Meanwhile, do you think Kik could somehow revive its lost glory under this new management? Share your thoughts in the comments below.
Images are courtesy of Twitter, Shutterstock.