The latest tech business that’s trying to reap the benefits of cryptocurrency is Line, a Japanese messaging app that allows users to text and call each other internationally.
TechCrunch reports that the app will launch a cryptocurrency token called Link, that’ll allow users to purchase stickers, webtoons, and other services within the app. Instead of having users purchase cryptocoins, Line will award Link coins to users when they complete certain activities.
“Over the last seven years, Line was able to grow into a global service because of our users, and now with Link, we wanted to build a user-friendly reward system that gives back to our users. With Link, we would like to continue developing as a user participation-based platform, one that rewards and shares added value through the introduction of easy-to-use apps for people’s daily lives,” says Line CEO Takeshi Idezawa.
Related Story: This Nightclub In Vegas Has Its Own Cryptocurrency
Line will release 800 million Link tokens to users all over the world, and will retain 200 million for themselves. This reserve of tokens will be used later on or will be expanded upon depending on the growth and success of the cryptocoin. Line has encountered some trouble when competing with WhatsApp, Facebook Messenger, Signal, and dozens of other messaging apps that provide similar features and benefits, so with the creation of this coin the company hopes to give their users some exclusive privileges that will encourage them to use the app more frequently.
While it’s a cool idea to try something new that differentiates your product from all the other ones on the market, it’s been a notoriously poor year for cryptocurrencies of all sorts. While Line’s motivations are placed in the right place, all of this work and faith in a developing technology may result in nothing.