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Koinup was developed by Koinup srl, a Brescia, Italy-based company created in July 2006. The two founders are Pierluigi Casolari and Edoardo Turelli, which serve respectively as CEO and Chief technical officer. After a period in beta version, in the first half of 2007 Koinup upgraded the service to the official version. The emphasis of the website is around the concept of "Share your Virtual Life". Together with GamerDNA and other websites, Koinup offer a social networking platform for all virtual world inhabitants

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Some analysts are observing that social networks for online games are part of a new trend in the social network scenery.

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Although, Koinup claim to be open to all virtual worlds and mmorpgs, it seems to be a sort of predilection for the areas of social worlds as Second Life, IMVU, The Sims Online and OpenSimulator and the major part of the members seems to upload contents from these worlds.