The social influence measurement firm Kred, is set to launch its own cryptocurrency based social media platform called Crypto.Kred! Members will be able to create their own branded CKr (the symbol for the new coin) coins, share or sell them to others, as well as convert them to Ethereum to be cashed out on the open crypto exchanges. Existing members of Empire.Kred (Kred's social stock market game) will receive a free coin, a 2nd for a tweet, and the ability to buy new coins using a combination of Eaves (EK's platform specific currency) and cash. The initiative is currently being tested with Empire.Kred members, but those who're interested can sign up now to join the wait list.
The Krypto.Kred platform will apparently run separately from Empire.kred,but the two will be integrated in a number of ways. Existing Empire.Kred members will have the benefit of creating new coins with 50% Eaves and 50% cash. This is a great opportunity for existing members who have a ton of Eaves laying around. My brand Gamers Bay has a net worth of over eleven and a half billion Eaves in total investments! But it appears that Eaves will remain a separate currency from the CKr coins.
Besides the ability to personalize your own coins, you'll be able to sell those coins directly from the Krypto.Kred platform. Coin creators will have the ability to set the initial price for their coins, ranging from $0.01 up to $1.00. The default value will be set at $1.
The new Crypto.Kred app will run on PeopleBrowser's SocialOS framework, and will make use of the Stellar and Ethereum blockchains for recording ledgers. So, its essentially an app that runs on the exisiting blockchains. From there they can be converted to Ethereum. You'll be able to share, collect, and auction off your coins for a higher price. You'll also be able to share coins through SMS, email, as well as added integrations with Empire.Kred.
A white paper is still in the works but should be ready shortly.
Kred seems to stop short of calling it a cryptocurrency though. The platform states the the Kred coin is a new form of digital asset that acquires value based on the circulation trail of the coin, as well as social capital that comes with trading, holding, or gifting of the new coins.
As coins circulate they create a connected community that surrounds them, including past and present coin holders. Kred plans to reward active users of the platform with bonuses based on their engagement. Likes, comments, and passing of coins can all add value.
I just found out about this initiative, so I don't have all the facts yet, and I just signed up for the testing phase today as well. I will likely write a follow up after testing the platform to better understand how it operates and what users can expect. Here the official FAQ that can answer more questions about how the new Crypto.kred platform works: http://www.crypto.kred/faq
More updates are being shared by Lynn O'Connell in the Leaders Community on Empire.Kred. You'll need to have an account on the platform to access the community.
Written and published by Daniel Imbellino, co-founder of Strategic Social Networking! Connect with me on Google+:
https://plus.google.com/u/0/+DanielImbellino
Heard so much about this one on Empire Kred. Still finding my way around Steemit and Kryptonia. Pleasure to connect.
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Great to see you here Ron! The Crypto.Kred platform is coming along quite nicely, and I've had a chance to test it out and see how it works. We created several new coins for both Gamers Bay and Strategic throughout the beginning of the test phase, and here's an updated article that showcases the new coins and better explains how the platform will function: https://steemit.com/cryptocurrency/@djdaniel2020/a-first-look-at-kred-s-social-app-crypto-kred-in-action
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I gave an upvote and follow.
Never heard of this ICO until this article.
Let's help each other grow! @mcdform
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Thanks for checking it out! I've been a member of Empire.Kred for years, this is the 1st time I've ever seen them do anything with cryptocurrencies. Its not an ICO though, or at least that wasn't how they labelled it. I think crypto is eventually going to become a standard in social media, and apparently Kred realizes this as well.
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If crypto and social media can figure out the right way to allow people to own their own data, monetize it and make their experience better it will be a win for everyone.
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Its about time Kred embraced Crypto! It's something I've been personally pushing them to do this whole last year, and it looks like they finally listened. Empire.Kred has long had its own virtual currency, but its never had a value pegged on anything outside of the platform. The simple fact that we can pay for up to 50% of coin purchases with eaves means the eaves themselves will now have real world value.
Better yet, I have like an unlimited supply of eaves. My gaming brand Gamers Bay has one of the largest business accounts on the platform with over 11 billion eaves at its disposal.
I think what's going to happen is we're going to see crypto-incentivized social media platforms take off, and the rest will die. People are getting fed up with platforms like Facebook that only reward themselves, and platforms like YouTube that rely on broken and outdated revenue models that no longer work.
Empire.Kred has honestly been dying a slow death for years, but this initiative is more than likely to bring about the rebirth of the social platform. But I'm not getting excited just yet, as I don't know how well these plans are going to pan out in the end.
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This was a unique ICO I must say. Are anyone here testing the new platform and can say if it looks alright or?
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I just requested to signup for the test phase myself, so I haven't actually seen it yet. I've been a member of Empire.Kred for a long time though. It appears existing members will get good discounts on purchasing coins, as we can use EK currency (Eaves) for up to 50% of coin purchases. I've got billions of eaves laying around so I hope to be able to make use of them.
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I am also on Empire, and like I said in the leaders forum, I think this sounds great! I have up voted this, and I'm going to re-steam it. I'm going to promote this as widely as possible.
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Yeah, I think this is really a step in the right direction for Kred and for Empire's members. I'm planning to help promote this initiative as much as possible using my Google+ communities as well. Kred finally realized they need to innovate in ways that keep in line with the modern web, which so many other social platforms like Facebook are not.
Times have changed, society has changed, and the expectations of internet users have changed. The web is no longer just a place where people search for information or go to congregate with others, its now a place where tens of millions are seeking to find a way to make a living in a world with no jobs.
If traditional social platforms want to survive the changing tides, they're going to have to be willing to adapt and change to a model that benefits their users, and not just themselves. Its the whole reason I don't spend time on Facebook, as the platform doesn't benefit me nor the work I do on the web, its pointless.
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