History of Nearby Points
Since its introduction several years ago, Nearby Points has proven to be one of the most successful features that we have launched. Adding a virtual economy to Nearby made many other features possible as well, such as featuring posts and virtual gifts. From a business perspective, this feature also generated revenue which helps to keep everything running.
We have decided to transition Nearby Points to a new system which will better allow us to realize the original goals for Nearby Points. Specifically, we will be migrating to a new virtual currency called Kin. Kin is an open collaboration between many different social networks, apps, and other platforms. One of the most well-known apps that will also be integrating Kin is the Kik Messenger app.
Unlike Nearby Points, you won’t be able to purchase Kin using real money. Instead you will earn Kin for doing things like reporting bad content, messaging new users, or completing surveys. You’ll be able to use Kin to purchase the same in-app items that you can today, but you’ll also be able to use it to purchase real-world items, such as gift cards. Eventually, you’ll also be able to transfer Kin to and from other apps.
Migrating from Nearby Points to Kin will take some time and there will be some changes along the way that you might notice. In a few days, you will no longer be able to purchase Nearby points with real money. We will also be suspending the ability to transfer points to other users.
It will take 2-3 months before we are able to release Kin within the mobile apps. At that time, we will be converting everyone’s Nearby Points account balances to an equivalent number of Kin. More details on that exchange will be made available closer to that date.
We are very excited about Kin and all the new features it makes possible. We will share more details throughout the transition. If anyone has any questions, feel free to contact us at firstname.lastname@example.org.
Here are some places you can learn more about Kin:
Official Kin Ecosystem Website
Kin Foundation Subreddit