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 team 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. Our last meeting took place
Here are our goals for the third quarter of 2019:
OKR #1: INCREASE CUSTOMER BASE AND ENGAGEMENT BY INTRODUCING FREE ECONOMY
- Acquire 400,000 unique Ninja Krowns users
- 25% of Ninja Krowns users to make at least one purchase on Kinguin within the Premium Economy
and using either fiat or crypto (Krowns). - Mobilize a minimum of 10.000 micro-influencers in return for Ninja Krowns rewards
To interact with Kinguin today you add an item to your cart, go through the checkout, pay and add an item to your inventory. In other words, you have an interaction with our Premium Economy, where 90% of interactions on Kinguin occur.
Our newly introduced Free Economy is designed to entirely redefine this concept. Interactions happen within a new layer where no fiat/crypto purchase is necessary. The Free Economy is going to build the foundation for our upgraded Personalized Premium Economy.
In terms of content, users will be able to gain Ninja Krowns through a whole range of new activities than only through daily collection. Users will also have more ways of spending the free currency (today it’s only through Kinguin’s Crazy Free Weekend – where we offer chosen titles and content for free collection in exchange for free Ninja Krowns).
OKR #2: INCREASE COMPETITIVENESS OF THE PREMIUM MARKETPLACE
- Reduce bounce rate in checkout process
- 70% of top 40 best sellers are within top three pricing comparisons
- 70% of all pre orders within top three pricing comparisons
- Increase combined traffic of website and mobile app by 5x
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.
Kinguin Leaders Meeting June 2019