Kuende to Bring Blockchain Technology into Their Social Network
| Updatedby Andy Watson · 3 min read
Keunde, already well established social media company, plans to integrate blockchain tech into the platform, promising social media that promotes real-world gamified challenges to create meaningful connections.
Kuende, a gamified social network, which attracts young people from all over the world, offers an interactive, hybrid online-offline social experience. The project has recently announced their token event launch, upgrading their gamification layer into a blockchain powered vote and reward system.
The company recognizes that there is something wrong in today’s social media landscape, and this “something” makes users constantly look for a better alternative. Given this, The Kuende Platform aims to be a social media that shifts the focus from heavily filtered posts to a platform that focuses on genuine real life projections of a users’ life.
Being officially released to the public in 2015, the project received backing of 2.6 million USD from a private investment fund. Currently, the platform hosts more than 54,000 organic and active users, with the app being downloaded 20,000 times (no marketing investment was put in).
One of the biggest social issues among the youth today is feeling inadequate. According to Kuende;s founder, the team is working hard to make social media escapism, sadness, seclusion, and other social disorders it may cause, become the past.
Kuende aims to connect people with similar interests gamifying real-world socialization, which makes it easier for users to create healthy, real-life connections. Quite logical, the project’s mission is to transform social media into a positive force, powering a more connected, engaged, and inclusive society. By the way, Kuende provides users with control over their data, enabling them to share content with friends and family simply by choosing which level of privacy they would like to opt-in towards.
Kuende Token Rewards
The core concept of Kuende is the Gamified Real World Challenge. Most challenges, that are created so that users receive entertainment and joy from the experience, will involve a physical location and an action to be taken at that location.
Kuende rewards its users for engaging in real-world challenges and those rewards will come in different forms. Challenge Reward Pool is designed to incentivize the creator and the voters of a challenge. Participant Reward Pool, in its turn, will be distributed between all the users who have participated in challenges that are not designed to have any winner(s). In such a way, Contest Reward Pools are designed to be competitive, and the creator here can choose to have a reward pool to be available to one or more winners. And last but not the least, Buy-in Reward Pool designed for challenges, which require participants to contribute with a certain amount of Kp as an entry fee; the sum of all collected Kp here forms the Pool, from which the creator will be rewarded.
Kuende Token Generation Event (TGE)
The Kuende Token KUE will be generated during the Token Generation Event (TGE) as a ERC20 utility token created for anyone, who supports company’s vision. The token event will offer participants the opportunity to purchase the native KUE token for ETH. The total supply makes 3.56 billion tokens, 50% of which will be sold during the private sale (April 7th – May 31st) and the public sale TBC.
During the token event, each token will be valued at 1 KUE = 0.01 USD. The project is soft capped at $2 million, while the hard cap makes $18.8 million.
