Kaia DLT Foundation, a well-known L1 blockchain company based in Abu Dhabi, has recently announced cutting-edge Mini Dapps for LINE Messenger, which operates under LINE NEXT Inc. These groundbreaking Mini Dapps gained a massive user base of 35M within one month, and in-app sales have reached $2M.
This landmark achievement has significantly contributed to expanding Web3 adoption across the Asian region. We have conducted an interview with Dr. Sam Seo, Chairman of Kaia DLT Foundation, in which he shared insights into this strategic partnership between Kaia DLT Foundation and LINE NEXT. He explained how the Kaia team is aimed at revolutionizing worldwide Web3 accessibility.
Q1. What are the key factors driving the adoption of Mini Dapps powered by Kaia DLT Foundation?
Kaia and LINE NEXT have established the Mini Dapp ecosystem within LINE Messenger, which boasts over 196 million users worldwide and a seamless, user-friendly interface devoid of the complexities found in traditional Dapps. Since last October, the two partners have also worked on the Kaia Wave builder program to identify and support exceptional Mini Dapp projects.
Kaia Wave has boosted our joint business initiatives in Asia and beyond, providing SDKs that enhance the efficiency of builders’ work. As such, the program has attracted around 1,000 applicants to develop their Mini Dapps, so far. Moreover, we have focused on Asia, including Japan, Taiwan, and Thailand, where consumers spend 40% more on in-app purchases (IAP), making them significant contributors to the global IAP economy.1
Q2. How does the user base of LINE Messenger contribute to expediting the acceptance of Kaia’s Mini Dapps in Asia?
LINE has a dominant market presence in Japan, Taiwan, and Thailand, along with significant recognition in other countries. Through our exclusive partnership with LINE NEXT, we gained entry to the ecosystem of one of the most successful messaging apps, allowing us to connect with over 196 million LINE users. Consequently, Mini Dapps and Dapp Portal attracted over 35 million cumulative users within just one month of launch, achieving an impressive ARPPU of up to USD 39.
According to Flipside, Kaia has become the third-largest EVM blockchain in terms of active wallet addresses2. Additionally, LINE’s user interface allows both Web2 and Web3 users to easily utilize the Dapps without going through complicated steps like user authentication, wallet connection, and more.
Hashed, a prominent name in blockchain space, and Dune Analytcis, a globally known crypto analytical platform, have also supported the stance that Kaia acheived the milestone of highest daily blockchain transactions. Based on such factual support, Kaia has an exceptional reputation in daily blockchain transactions, leaving competitors in this regard.
Q3. What benefits does the 13% Paying User Rate provide in comparison with conventional Web2 apps?
With a higher PUR, apps can achieve their growth in a more sustainable state. In our case, 13 out of 100 people purchased in-app items for the app’s profit at least once. This is significant for both LINE and Kaia, as a portion of the revenue generated from Dapp Portal is used for buybacks of $KAIA, which contribute to the growth of the Kaia blockchain ecosystem and support the performance of Mini Dapp projects.
This model leads to increased transactions on the Kaia chain. In the long run, Kaia can expand its ecosystem consistently while ensuring Web3 projects build sustainable revenue streams beyond TGEs, transaction fees, and volatile token price action.
Q4. What is the role of Kaia and LINE Messenger’s merger in offering seamless onboarding to facilitate novice users in Web3?
LINE Messenger delivers a hassle-free, Web2-like user interface to Dapp Portal, helping both seasoned Web3 users and Web2 or novice Web3 consumers avoid the complexity that has kept traditional Dapps from achieving more in consumer markets.
The enhanced features include fiat/crypto hybrid payment, keyless digital wallet, fast transaction settlement, and fee delegation functions. These innovative Web3 features will transform the user experience like never before.
Q5. How are the Kaia-powered Mini Dapps beneficial for the cutting-edge hybrid models of crypto/fiat payments?
The integration of crypto/fiat payment options will further facilitate hybrid business models. By adding more liquidity through digital asset payments, the hybrid business model can maximize the benefit of Web2’s established free-to-play (F2P) and in-app purchases on Mini Dapps.
Along with crypto and fiat, the supply of the USD-pegged stablecoin on the Kaia chain will be able to enhance the hybrid payment model, further boosting efficiency. Furthermore, all payments, including paid fiat, are repurchased into $KAIA for builder settlements, contributing to the KAIA token economy.
Q6. What is the contribution of Web3 monetization models like token-based economies in fortifying In-App Purchase and Free-to-Play revenue streams in the Web2 sector?
When you make an in-app purchase, you can choose your payment between fiat and cryptocurrency in the wallet platform within LINE Messenger. This system allows you to not only purchase in-app deliverables instantly and safely regardless of the type of payment, but also opt to pay in the digital assets you have earned from Web3 gaming.
Users can benefit in more aspects with more Mini Dapp tokens coming available in the future, simultaneously experiencing the sheer Game-Fi features. Builders and Kaia can improve scalability and achieve enhanced sustainability.
Q7. How does the planned launch of USD stablecoin by Kaia focus on enhancing revenue settlements and payment infrastructure?
It’s still TBD but Kaia might be able to enable users to purchase items on Mini Dapps and Dapp Portal, such as NFTs, using the USD-pegged stablecoin on the Kaia chain.
Q8. What is Kaia’s roadmap to further expand the Web3 services in partnership with LINE NEXT?
Kaia and LINE NEXT will continue introducing exceptional Mini Dapp on Dapp Portal while trying to expand the project’s awareness in the Asian markets and beyond. We will actively support Mini Dapp partners to achieve mutual success in marketing and revenues, such as their TGEs and new feature updates.
By the end of this year, LINE users will also be able to see hundreds more Mini Dapps to choose from. The Kaia chain will actively collaborate with LINE NEXT, advancing our Web3 solutions to position Kaia as a blockchain specialized in Web3 services within Superapps.
Q9. Recently another layer 2 blockchain announced they team up with LINE HQ for Web3 adoption and Mini App project. Explain what’s going on between Kaia and LINE or LINE NEXT or what’s your position in this Mini Dapp venture.
Following their announcement, LINE Yahoo (LY) Corporation clarified that there was no such deal or relationship in the first place. LINE NEXT and Kaia also discussed this matter, concluding there is no change to our exclusive partnership for the Web3 businesses.
I reiterate that no other blockchain can build a Web3 ecosystem on Dapp Portal with the comprehensive integrity and seamlessness except for us at the moment, as open-source SDKs or LIFF cannot achieve our technical integration level. If there is a LIFF- or SDK-based Dapp on LINE, it most likely means some basic Web3 features were added, and one cannot announce that their blockchain powers a Dapp ecosystem.
Closing Remarks
In conclusion, Dr. Sam Seo’s insights highlight the strategic collaboration of Kaia DLT Foundation with LINE NEXT in revolutionizing Web3 accessibility through Mini Dapps. With a rapidly growing user base and seamless onboarding, Kaia is all set to drive blockchain adoption across Asia and beyond. In a nutshell, Kaia remains committed to innovation, scalability, and sustainable growth in the Web3 space as the ecosystem expands.
