WE
BELIEVE
That everyone should have
access to great gaming experiences...
...and we can help achieve this by building platforms,
services and locations that support the free economy
and personal rights of gamers
Over 9 million customers enjoyed more than $200m in savings on video games since 2013
The FREE virtual currency by Kinguin which anyone can collect and exchange for cool digital content
The Premium crypto currency on Kinguin enables storewide discounts and future profit sharing with the community
Kinguin Arenas and The Esports Performance Centers provide the ultimate gaming experiences
Kinguin Krowns (KRS) play a major role in Kinguin’s new economy and have been embraced by the gaming community (see transactions volumes below since May 2018). After introducing Krowns, we have seen our users adopt this currency as a mean of payment on the Kinguin marketplace.
Krowns, and the blockchain technology that supports the currency, play an important role in transparency and also combating fraud.
Crypto is no longer a niche.
Consumers and Kinguin customers are increasingly embracing crypto assets, which makes it easier to adopt Krowns as a digital currency. The more diverse payment options we can offer, the better for gamers everywhere. Krowns are available in every country, which enables Kinguin to scale globally.
There are significant benefits to an international cryptocurrency, especially when the buyer and the seller are from different countries.
Krowns help users avoid expensive foreign transaction fees and exchange rates. Fiat transactions often take several business days to hit bank accounts located in different regions. When it comes to Krowns, transactions occur in real time. High transaction speed is an asset for businesses operating in the contemporary world of instant gratification. Setting up a crypto wallet is easy for gamers to use, and offers customizable portals and the ability to convert cryptocurrency to the base currency.
The second benefit is the additional security layer that Krowns provide by having all transactions tracked and recorded on an open ledger – the blockchain. This makes it impossible to reverse or change, which significantly reduces the risk of fraud. Every Krowns transaction is verified, ensuring that customers can only spend what they have. Since both parties (buyer and platform) have to approve each transaction there is a significant decline in disputes and chargebacks.
Kinguin is a community of approx. 9 million buyers and tens of thousands of sellers. In this phase we are going to focus on introducing a closed loop ecosystem for Kinguin’s top 4000 active business merchants.
Almost 80% of Kinguin’s 4000 active business merchants use our internal boosting services to highlight their unique offers to more than 60 million Kinguin’s annual visitors. Kinguin will dedicate 2% of total KRS tokens (total is 100 mil. KRS) within the second half 2019 to incentivise all merchants’ actions contributing positively to our quarterly Objectives and Key Results (Q3 OKRs).
Collected Krowns tokens by Merchants can be either:
- Sold at crypto exchanges
- Or spent on Kinguin's internal boosting services with considerable discount
These boosting services are used on daily basis by our merchants and are currently bought with fiat currency. By providing merchants with arbitrage leverage through using Krowns (KRS) tokens, their usage of the crypto currency will increase significantly. And because of this significant arbitrage our merchants will seek to acquire more Krowns.
Merchants will be able to acquire extra Krowns through:
- Increasing their sales volumes on the Kinguin marketplace
Based on our experience from phase #1 we will continue to support retail adoption of Krowns (KRS) by providing 10% discount through the entire marketplace for Krowns retail transactions.
The main challenge we see for ourselves and the ecosystem in the next quarter is deciding the future blockchain technology for Krowns. We have eyes on multiple initiatives including Amazon Blockchain, WAX, Binance Chain and others. We believe the new kinguin economy is the key to fulfilling our commitment to make gaming accessible to everyone.
We will announce Phase #3 details within the last quarter of this year. We will aim for deeper integration of KRS into our natural ecosystem used by the buyers and sellers of the marketplace. Phase #3 will have more retail focus (compared to phase #2).
Find out how we attracted 9 million customers and became globally recognized brand.
Why Kinguin introduced a FREE virtual currency to the community and how it fits with the crypto Krowns.
Since 2013 Kinguin continues
to contribute greatly to the Esports community.
We use company-wide OKRs (Objectives and Key Results) goal setting at Kinguin. Our quarterly Kinguin Leadership Meeting hosts representatives from all teams and departments over the course of a two-day workshop. During this workshop, the leadership team reflects on the past quarter and discusses the goals for the quarter ahead.
Here is our goal for the fourth quarter of 2019:
INCREASE COMPETITIVENESS OF THE PREMIUM MARKETPLACE
#OKR 1 70% of best sellers to have the best price on the market
#OKR 2 Increase traffic by 15%
#OKR 3 Increase turnover by 50%
#OKR4 Increase Net Promoter Score to 70%
We are focusing the effort on the premium economy
due to two reasons.
Firstly, Q4 is the time when high-profile games are released, with multiple titles coming out every week that show a potential to become best sellers. Secondly, the winter holiday season is when the video game consumers are most active and willing to make a purchase.
Aside from maximizing revenue during this favourable period, another important goal is to increase the Net Promoter Score, which will in turn translate into an increase in the word of mouth effectiveness and generate a self-sustaining source of additional traffic and revenue.
To reach our goals, each team has set their own additional OKRs and is working with a team of OKR ambassadors to ensure the flow of communication between departments. We are unified in our efforts, understand and share common goals, and work together toward the desirable outcome.
Kinguin Leaders Meeting September 2019