How an Independent App Built a User Experience Optimized for the Kin Cryptocurrency
PeerBet is a social wager app that was built from the ground-up around the Kin cryptocurrency. Starting from humble beginnings via the Kin Developer Program, it has blossomed into a high-quality consumer application with over 10,000 unique daily active users. Allowing users to make friendly skill-based bets denominated in Kin, PeerBet shows what is possible when optimizing an application to be centered around the rewarding and free exchange of value between users.
With a global user base that skews over 25% female, PeerBet draws strong engagement from emerging markets such as Chile, India, parts of Africa, and more. The app has achieved tremendous traction organically, with word-of-mouth and referrals fueling all of its growth. The power of an intuitive user experience and the promise of being able to earn something real with Kin has allowed PeerBet to become a powerhouse app on the rise.
How PeerBet is Using Kin
When exploring how to monetize their app, the team behind PeerBet was drawn to Kin because of its potential to change the way developers interact with users – by rewarding them rather than simply extracting the value they create. Adding to the allure of Kin as an app monetization model, the PeerBet team also liked the idea of being able to plug into a larger ecosystem, where their user base would be able to engage and participate in a larger global community.
Kin is the exclusive medium of value exchange within PeerBet — the app simply does not work without it. Users are able to earn Kin in a variety of ways:
- Suggesting new topics for wagers
- Challenging friends to wagers in public or private competitions
- Referring a new user
- Charging entry fees to private leagues with chat and custom prizes
As one of the first apps to integrate Kin Ads, PeerBet saw a spike in user growth due to consumer demand for earning cryptocurrency. This not only enables users to top-up their Kin balances for use inside the app, but it also allows PeerBet to monetize with Kin in an additional way: by generating ad revenue (while users are also rewarded with Kin for their attention).
The PeerBet team has fine-tuned their user experience and has evolved into a legitimate consumer application with highly active power users. Reflective of their hard work and dedication, the platform has earned over 4 billion Kin to date from the Kin Rewards Engine, the monetization engine that rewards developers for driving the adoption of the Kin cryptocurrency, and in turn, the growth of the Kin Economy. At the time of writing, this amounts to over $200,000 in revenue, a remarkable feat for such a small team.
“Kin has enabled PeerBet users to earn and exchange value freely within the app. This flips the traditional monetization model on its head – users are no longer treated as a product, but rather as partners who benefit equitably from the value generated by Kin’s further growth and adoption.”PeerBet Team
PeerBet has been an invaluable partner to the Kin Ecosystem, often helping to test out and even contribute to the development of new ecosystem projects. Looking ahead, the team is excited to continue growing its user base and building out new features for the app. Their organic traction has been impressive, however, they are ready to take the app to the next level with a new focus on marketing and growth.
The team has also shared feedback on what could help them and other ecosystem apps to be even more successful – namely support and consultation on marketing strategies. The Kin Foundation will continue to work hard to support our ecosystem apps in growing their reach and telling their story, as we hope this will have a tremendously beneficial impact on the success of the Kin Ecosystem. We are always listening to the developer community and seeking out opportunities to help everyone succeed collectively. A rising tide lifts all boats.
Kin is bringing together apps and services of all sizes and varieties to build a new digital economy that aligns the incentives of developers, users, and communities. By working together, the Kin Ecosystem can build a more fair digital world, where those who create value share in the success of the network. If you are interested in monetizing your app with Kin, we invite you to join us.