Originally posted by Steven Krohn on Krohn Media: http://krohn.media/kred-next-evolution-cryptocurrency/
Steven is a highly respected digital marketing consultant and social media influencer. A successful strategic advisor on ICOs, cryptocurrency and blockchain technology.
Cryptocurrency goes through waves of innovation, followed by copycats jumping onto the digital bandwagon. New takes on cryptocurrency are few and far between.
However, innovation favors the prepared. Ƙred is taking cryptocurrency to a whole new level by personalizing and gamifying their Coins.
Many blockchain startups often begin with a coin functionality as the basis of their offering, then add on a functional premise to create value for the coin. This often leads to Coins failing or never taking off, as projects may lose steam when a Coin has no proven utility or function behind it.
With the Ƙred community influence and their powerful engagement via their members, Ƙred is a proven utility with over 6 years to back it up. They know what works and have created a new cryptocurrency called Crypto.Ƙred (CƘr) that will dramatically expand cryptocurrency awareness to a wider and more tangible buying market.
As the saying goes “The more you give, the more you will receive”, Ƙred Coins are built on the concept of giving, sharing, and connecting with others. It’s truly amazing and different.
One of the most innovative features with Ƙred Coins, is that you can personalize and “stand out” by creating your very own Coins with unique images, animated GIFs or even Videos (up to 500 identical Coins in a batch). That means you can have your very own CƘr Coin sent to your friends, or customers with specific text, colors, and your media of choice on it.
Once your newly minted Coin is sent to a new user, it’s tracked through Ƙred’s unique social “Circulation” trail. This allows those who possess a specific Coin to comment, and connect with you (as the issuer) and every user the Coin is exchanged with. The unique gamifying function allows users to create strong social connections with those who received the Coin.
Each Coin includes the name of the coin batch (such as “Digital Marketing Award”), a color, media on the front and back, the original Coin issuer’s name AND a link back to their .Ƙred profile. Think of all the ways you can use this.
The Coins also show how many times it’s been shared between unique coin holders. These connections allow people to talk to each other, share comments, and increase the social capital of that Coins, not to be confused with monetary value.
Ƙred Coins can be sent to anyone using a .Ƙred domain, mobile number or email address — You’re not limited to sending Coins to someone’s wallet address. This opens up the market at least 10 fold.
Send Coins to phone numbers, email addresses or directly to another user’s .Kred profile
The more you share, the more you can connect with others, and grow your network of like-minded people (or potential customers).
Build up your Tribe with your Coins.
Ƙred Coins were created to be noticed, appreciated, shared and collected. Crypto.Ƙred gamifies and personalizes reciprocity while making strong targeted connections in a virtual landscape. People are gifted items within the Ƙred Community with social actions, resulting in others responding in the same manner. This will “gamify” the networking process by making it inclusive and fun.
With Ƙred Coins, you have the unique ability to develop a coin that can become a special edition, a Sport coin to commemorate an event or even just a thank you to your friends. It’s up to you!
I’ve thought about how I could use these Coins to help promote my business supporting ICOs for their digital marketing and PR efforts. I started out by creating an ”ICO Launched!” Coin which I’ll distribute to my clients to commemorate their launch day. The idea is that their friends in the crypto space see the Coins and associate Krohn Media with ICO marketing.
The act of buying or “gifting” virtual goods is not new. Ever since the beginning of this century, there has been a growing market for virtual goods, including virtual art that has sold for $1 Million dollars and virtual “cryptokitties” that pull in large sums. Merging virtual digital goods with a cryptocurrency, as Ƙred has done, is fresh, innovative and the next step in the evolution of Crypto.
As a trader and advisor to many ICOs myself, I know the first thing other traders will ask is how they can profit. Here’s what I’ve found so far:
- You can purchase Coins for what they call the “Market Price” via the Marketplace (buy it now or auction), by trading or earning Coins and by picking up special edition Coins — Try to create or get hold of Coins that you think others might pay more for.
- Collectible Coins can be redeemed for CƘr via 2 methods:
a) Sale or auction in Crypto.Ƙred Marketplace
Other users can buy your Coins from you for CƘr based on a listed sale price or the current price in a Dutch Auction
b) Surrender your Coins back to Crypto.Ƙred to extract the CƘr
If you have a Coin you want to cash in quick or that just won’t sell, Crypto.Ƙred has a Surrender feature where you can sell the Coin back to them in exchange for it’s minted value in CƘr minus a 10% fee.
- There IS a way to sell CƘr on an exchange
a) Use the Export feature to send your CƘr to an Ethereum compatible wallet
b) Find an exchange that accepts CƘr (Note that I haven’t found one yet as of writing but they are still in their pre-release “Early Access” period — I expect to see CƘr on exchanges soon)
c) Cash in for approx $1USD per CƘr — CƘr are not likely to jump too much in value on external markets because Crypto.Ƙred are making them continuously available for $1USD each (for now).
The “Market Price” of each Coin is based on two key factors:
- The Coin’s “social value”, including who created the Coin, its likes, comments, circulation trail and connections made. The more people who engage with that Coin, the better the market value.
- The “media value” stems from what is used on the front and back of the Coin, as well as the Coin name.
Currently, Ƙred Coins can be minted and “dressed up” between 0.01 CƘr and 100CƘr. To put that into perspective, with 1 CƘr valued at $1 USD, you can effectively create a crypto collectible for a penny. CƘr can be bought using USD, BTC, DOGE or ETH within the platform. CƘr is based on the ERC20 protocol and are compatible with both the Stellar and Ethereum Blockchains.
A very smart feature from the Crypto.Ƙred platform is the creation of a deep API that is designed to make it easy for developers and partners to build apps that push Ƙred Coins to places not imagined yet. There are currently a number of applications that have been built that are forward thinking by themselves, let alone with the power of Ƙred Coins behind it.
With virtual good consumption on the rise, sharing and engaging is abundant in our society, Ƙred Coins fill a void that exists, while bridging the gap between Crypto markets and social sharing. This is all backed by years of proven community engagement which demonstrates that sharing and connecting is the key to building a strong network.
Gratitude and reciprocity, with the power of blockchain, is the new standard of cryptocurrency.
A big “thank you” goes out to Crypto.Ƙred.
Full disclosure.. I’ve used Kred and Empire.Kred for years and am trying to get a jump on this platform — Please buy some of my Coins by searching the Crypto.Ƙred Marketplace for StevenKrohn.Kred
Disclaimer: Our owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on this blog is investment advice nor is it a replacement for advice from a certified financial planner.