Data recently published by France’s AMF (Autorite des Marches Financiers) concerning the ICO market has…
Besides being the first caffeinated energy drink manufacturer to really crack the market now filled with competitors following in their footsteps, Red Bull is likely most famous for their presence in the sporting world. Besides running and sponsoring a host of extreme sports tournaments, they are involved in partnerships in extreme sports, motorsports, and even field sports with the sponsorship of football team FC Red Bull Salzburg.
What do energy drinks have to do with cryptocurrency?
Now, the global energy drink giant could be moving to explore a brand-new field. Recent reports suggest that Red Bull is now aiming to move into the world of cryptocurrency. In particular, they want to use it to gain insights on customers who will be providing customer experience and service feedback on their products and services in exchange for cryptocurrency tokens. They could be partnering up with the Kik messenger service and their own unique cryptocurrency, Kin.
Red Bull and Kin
Red Bull is amongst just one of the companies that could soon be partnering up with the Kik messenger service through their cryptocurrency platform, Kinit. Kinit is an Android app designed specifically for Kin. It acts primarily as a cryptocurrency wallet, but it also offers users the chance to earn Kin by engaging with brands and other apps and platforms, including not only Red Bull but also reportedly Swarovski, the leading Austrian jewelry company, and could potentially include existing Kik partners like Sephora, Dunkin’ Donuts, the app IMVU and Unity gaming.
There’s a variety of ways that users can earn Kin through Kinit. This includes completing quizzes, surveys, watching advertisement videos, and more. Kinit is already partnered with Swelly, a chatbot that has already earned success in completing polls for brands on social media platforms, including Kik, Facebook, and Messenger, with Kinit being the latest platform to make use of it.
How Red Bull benefits
The support raised for Kinit, Kik, and the Kin currency all depends on its ability to attract big, mainstream partners. Through the Swelly platform on the Kinit app, however, Red Bull benefits by gaining and compiling high-quality data by connecting with customers on an exciting and engaging new platform that is built for honest, interactive use. This research helps Red Bull learn how to improve their products and services while helping their fans feel the connection and the benefit of feeling like their voices are being heard.
Why cryptocurrency works well with Kinit
Cryptocurrencies and platforms like Kinit are showing that they can be used for more than pure transactions but in new forms of value-based marketing, market research, and customer loyalty building initiatives. The benefit to the companies is obvious, but the customers benefit too.
For one, people are much more concerned about how the information they provide online is being used, but if platforms like Kinit offer the protections to their privacy that they promise, it encourages more honest feedback. The reward of Kin and other cryptocurrencies gives customers payment for their time, making them feel both valued in their opinions and in real currency.
It’s a new and experimental step for Red Bull and one that could see many more companies jumping on board if it proves a success.
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