What Is KickCity?
KickCity is a blockchain platform that aims to connect people through reward-based communities.
The platform envisions a future “where everyone will be on blockchain.” With that future in mind, KickCity sees a need for blockchain value communities that allow for the exchange of information and value simultaneously.
In more straightforward terms, KickCity wants to build a better Facebook based on blockchain technology that offers rewards for users. KickCity has a concrete development plan to achieve these goals over the next few years.
The process is broken up into two major stages. The first stage, according to the KickCity.io website, is already 70% complete and is generating revenue. Here are the two stages:
Community-based Event Platform On The Blockchain:
“Everyone attends events”, explains the KickCity whitepaper. The company wants to use events as a point of entry into building its blockchain community. By focusing on blockchain events, KickCity wants to “hack” the growth of a value community. The KickCity event platform will be used for decentralized, transparent P2P event marketing and will accept fiat currencies, certain ERC20 tokens, and bitcoins for ticket purchases.
KickCity will allow the development of a platform for blockchain communities. It’s a synthesis of Facebook and Slack on blockchain. The ultimate goal is for chat or community creators to get rewarded for their content because users will pay for the value they receive. Users can pay content creators using smart tokens. the platform will be used for all blockchain-related communications, including chats, groups, and more.
Basically, KickCity plans to be a major blockchain-based social network in the future. The first step, however, is to build an event promotion and ticket purchasing platform on the blockchain – something that’s already 70% complete and is already generating revenue.
The KICK Token
The KickCity ecosystem will revolve around use of the KICK token. KICK tokens are standard ERC20 tokens built using the Bancor protocol. The tokens maintain continuous liquidity using constant ratios of reserve tokens (BNT) held through smart contracts – just like we’ve seen with other Bancor-based projects.
Some of the benefits of KICK tokens include:
Purchasing and liquidating is done through the smart contract, which means smart tokens are always liquid regardless of their trading volume.
No Extra Fees:
The only mandatory fees applied by a smart token are the blockchain platform fees (like gas), which are relatively low.
The price calculation is done algorithmically by the smart token, which means the same price applies for purchasing and selling (liquidating) the smart tokens. there’s no spread.
Ultimately, all of the above features lead to lower volatility.
KICK tokens are designed to be used to accomplish a variety of goals. To start, KickCity is focusing on the event industry, where KICK tokens can work as a payment solution. Users will be able to use KICK tokens to pay for events.
How Does KickCity Work?
The best way to envision how KickCity works is by using a use case. Here’s the use case outlined in the KickCity whitepaper:
“Event organizer Stacy creates an event ‘A’ with ticket cost as $100 and 250 available seats/tickets. She has the option to buy KICK from the exchange market or use 10% of her total ticket sales” to run a transparent and effective event promotion campaign if she does not have KICK.
“Users in the platform see her event with a specified number of coins and are motivated to promote it. they can invite their friends within the platform to the event or use unique links to promote the event outside the platform. Once a ticket is bought, the system automatically allocates KICKs to the person or group of people responsible for the sale or event registration.”
Essentially, KICK tokens will be used for all promotional, marketing, and transacting purposes within the KickCity platform – however, the platform will also accept fiat and bitcoin (both are currently accepted) and Ethereum/ERC20 tokens (which will be accepted in the future).
Who’s Behind KickCity?
KickCity describes itself as “an innovative company with highly inspired and experienced developers who have worked in big IT companies like Google, Facebook, Yandex, and Mail Group.”
The company’s development team is based in Russia, where they recently won a blockchain hackathon organized by LUXSOFT.
The KICK Token Sale
The KickCity token sale is scheduled for October 2017. The exact date has not yet been announced. KickCity’s goal is to raise $12.5 million over the 30 day token sale period.
During the sale, 1 USD will purchase 10 KICK. 160 million tokens are available in the crowdsale.
KickCity is also giving away 400,000 KICK as “Kickbacks” between August 16 and October 31. Kickbacks will be given to people who attend certain blockchain events hosted on the KickCity platform around the world. The goal of this Kickbacks program is to put KICK tokens in the hands of blockchain community members for quick circulation and adoption.
There will be a total supply of 1 billion KICK tokens. 500 million tokens will not be issued, and will be retained by the KickCity Foundation for future funding.
KickCity is a blockchain-based event platform that involves the use of KICK tokens. today, the platform makes it easy to promote events and purchase event tickets through a blockchain-based platform. In the future, however, KickCity envisions itself as a social network for the blockchain community – similar to Facebook. The goal is to build a community of blockchain users with the event promotion system, then expand in the future.
You can learn more about KickCity by visiting the company online today at KickCity.io. The company’s crowdsale is taking place in October 2017