When you understand the blockchain and grasp the enormous potential that it possesses, an obvious opportunity presents itself. Marrying top brands in the entertainment industry with this powerful new technology is somewhat similar to owning a domain name in the early days of the internet. When the web was just taking off, domain names presented entertainers with the ability to harness the information flow surrounding their brand. Digital currency will prove to trump the value of the internet for brands as the protocol offers a completely new way to monetize their time in the spotlight. We recently sat down with the developers of Kim Coindashian to see why they created this new altcoin in the first place:
CCN: You realize that Kim Kardashian is engaged to Kanye West, right?
Kim Coindashian Developers: The idea behind developing Kimcoin is the exact fact that she is engaged to Mr. West. We feel the CoinyeWest team attempted to make a complete mockery of Kanye West. The original image is based on the South Park version of him and then changed to the half man/half fish image. The whole episode was not well thought out and the implementation was terrible. Not many coins have made mainstream media, but even without launching, CoinyeWest did. This proves that the public is interested in the possibility of having their favorite brand use their own digital currency. We feel that with a responsible approach, Kimcoin will be a very profitable business move for the Kardashian brand.
CCN: Have you had the chance to discuss with the Kardashians yet?
KCD: Not yet, but we plan to present them with a full business model and educate them on how to leverage this technology. Our assumption is like most people, once they “feel” the technology, they will have a positive response. We are excited to hear the Kardashians input on how to leverage the technology!
CCN: Outside of media attention, how does the Kardashian brand gain value from having their own digital currency?
KCD: We see four main points that it is in Kim Kardashian’s best interest to get involved.
1. First mover advantage – This will be a competitive space and we all can see how Bitcoin has fared by being first to the digital currency to market.
2. Exposure to a new audience – When Overstock began accepting bitcoins, they received $124,000 in business via Bitcoin in the first 21 hours. This audience is thirsty to spend their money with this medium and the Kardashians stand to wrap their brand around this demographic.
3. Potential of exposure to new geographic markets – Everyone inside the digital currency space understands the amazing opportunity of bringing the under-banked and people without access to the banking system online. Over half the world does not have a bank account and these people will have a chance with digital currencies. Think about the potential that is ready to be launched when these people are afforded the same chance to participate in the markets we all take for granted. And think about the Kardashian’s opportunity to deliver the message.
4. New Service Offerings- The Kardashian team can use the coins in the same way airlines have airline miles and credit cards offer rewards points. They can even establish their own marketplace to sell their vast merchandise. How about a Kardashian Exchange?
CCN: Do you think this applies to any other entertainers?
KCD: The Dallas Mavericks. We couldn’t believe that Vivek Ranadivé beat Mark Cuban to the punch on Bitcoin. Actually, we think all sports teams will eventually have their own coins in the near future. Everyone knows that Cuban made his fortune executing on the beggining of the internet and we believe he will capture this industry as well. No better way than one-upping the rival Sacramento Kings.