Renowned messaging application LINE, having over 84 Mln users just within Japan, recently revealed that it has started a rewards program where it gives out its token LINK to people who use its virtual services.
In line with the recent official announcement published, the Line users will be rewarded with LINK by linking their accounts to its 3 mobile application, along with LINE Pay remittance & settlement, LINE Securities for private investment & LINE Score for credit evaluation.
The reward program is a component of LINE’s effort to market its blockchain initiative. Earlier in 2018, the firm created an in-house lab to develop DApps [Decentralized Applications] based on its patented LINE Blockchain.
Earlier in August, LINE launched its virtual asset wallet and a development platform for DApp developers.
The program started earlier on 18th Sept. As per the new plan, 10k users who have LINE family credit cards issued by LINE Pay will receive 2k yen [around $19.6 USD] worth of LINK tokens, while LINE Securities users will rise up to 500 yen [around $4.76 USD] worth of tokens by opening an account & completing a questionnaire. LINE Securities was started together with Nomura Holdings, one of the leading stock brokerages operational within Japan.
Users can convert the tokens into fiat currency by the LINE’s cryptocurrency asset trading service named Bitmax, where they have to open an account to process such transactions.
The firm aims to encourage its users to participate within the token economy within which more people would trade or use the LINK token as a means of payment & increase its utility.
Other messaging applications firms are also developing their own native tokens to leverage their large user bases. Kik & Telegram have also made efforts to launch tokens on blockchain technology.