Mobile app development is huge business. By the year 2020, global app revenue is expected to take in about $190bn. The app user-base grows exponentially year on year, creating huge demand for new apps.Yet, the vast majority of new apps are free. Users almost expect to pay nothing for their app, which means developers are forced to find new ways of making money.
The freemium business model is the mainstay of today’s app world. The word itself is a portmanteau of free and premium. Freemium describes as app that is offered free of charge, but users are asked to pay for certain content, services, extras, virtual goods, or other items, depending on the app type.
Yet, between 90 to 95% of freemium users create no revenue whatsoever, as they are happy to use the app in its free mode without additional extras or better services. This effectively means that developers are wasting valuable resources creating content for little financial return from the majority of the user base.
Krosscoin is a brand new Initial Token Offering (ITO) that proposes the concept of monetizing individual app components through a functional consumption model, so
developers can focus on creating content for every user and be financially rewarded
for it.
Krosscoin: a framework for consumption-based app development
According to this ITO’s marketing blurb, Krosscoin proposes a pay-as-you-use model that ‘allows app developers to make interesting and highly functional apps, and lets the end-consumer pay for only the functions accessed, when they access or use it.’
I just published “WHAT IS KROSSCOIN? What’s its mission?” https://t.co/xMy3CRLpuE
— Kross Blockchain (@krosscoin_team) March 14, 2018
In simpler terms, Krosscoin offers an Ethereum-based blockchain platform to build proprietary or third-party apps which can be monetized through its proprietary token, KSS, in the above mentioned pay-as-you-use fashion.
Krosscoin will offer an open API to enable rapid implementation by third parties in due course.
Apps developed to use KSS
KROSSCOIN – Worlds first cloud bot trading mobile app working https://t.co/xaLHBxCbdx
— Kross Blockchain (@krosscoin_team) February 15, 2018
Krosscoin has a number of apps in beta stage that utilize the KSS token.
Phase 1
- Pipdroid Pearl (for MT5)
- Pipdroid Petal (for MT4)
- Pipdroid Optima
Phase 2
- Ribbon
- Kross Monetization Platform
Phase 3
- Freelance & Merchant Platform
Krosscoin in figures & quick facts
- Token name – KSS
- Total amount of tokens issued – 1,000,000,000
- ITO Phase 1 – March 14th to April 12th 2018
- ITO Phase 2 – April 13th to April 27th 2018
- ITO Phase 3 – April 28th to May 12th 2018
Total tokens issued during each phase & value:
- Phase 1 – 12m tokens/1 ETH = 2,355 KSS
- Phase 2 – 5m tokens/1 ETH = 1,765 KSS
- Phase 3 – 3m tokens/1 ETH = 1,412 KSS
The KSS token
The company will issue its own currency, the KSS token, which will be based on Ethereum’s ERC-20 standard.
Once created, the KSS token will be distributed as follows:
- ITO – 40m KSS
- Rewards – 10m KSS
- Founders and project team – 25m KSS
- Future development – 25m KSS
The team
The Krosscoin site presents a team of 15 people.
Learn more about the team here.
Social Media presence and digital footprint
Join us on Telegram @krosscoin . Pipdroid! what you've been waiting for! pic.twitter.com/5vY8Rv1WUA
— Kross Blockchain (@krosscoin_team) November 2, 2017
Here are the numbers for Krosscoin at the time of writing (mid-March 2018).
- Twitter – 3,567 followers
- Facebook – 15K followers
- Telegram – 3,922 followers
- Medium – 38 followers
- LinkedIn – 88 followers
Competition
Krosscoin stands pretty much alone in its endeavor to offer an app monetization platform. Currently, no other ICO or ITO offers any similar service or concept. This uniqueness may shore up Krosscoin’s future.
Additional information
Krosscoin ICOBench review
White paper
“KROSSCOIN” by @yan_civilengine https://t.co/saWjKNwQPP
— Kross Blockchain (@krosscoin_team) November 18, 2017
Consult the Krosscoin white paper for more information about the platform, additional features and services, etc.
Conclusion
App development for mobile devices as an industry will only get bigger with the passage of time as more and more smart devices come online, and just as mobile phone providers came up with the now firmly established pay-as-you-go credit system, Krosscoin’s pay-as-you-use model may catch on with investors.
Krosscoin: Multiple Innovative Applications ITO pic.twitter.com/BAwld51qaE
— Kross Blockchain (@krosscoin_team) November 12, 2017
We’ll catch up with Krosscoin’s value proposition in due course.
