Kakao Talk’s Kakao Invests in Beauty Platform Cosmochain
“ Kakao Investment “, an affiliate of Korea’s Internet service offering applications such as Kakao talk, turned out to have made a large-scale investment in the beauty platform “ COSMOCHAIN” based on the blockchain.
About Kakao Investment
Although it is a Kakao Corps. that has launched several subsidiaries, Kakao Investment operates as a subsidiary focusing on major investment among them.
It was announced that Kakao will start virtual currency related business and blockchain for a while and established subsidiary “ Ground X “ in March of this year to launch a platform using blockchain technology .
How much was invested?
Details on the contract have not been announced, but according to experts it is expected that it would amount to at least 100 million yen.
Kakao officials admit that they invested in the Cosmochain, but explain that the investment size and details will not be disclosed.
Cosmochain provides consumers and companies with a universal beauty platform that connects users of cosmetics with cosmetic companies and brand manufacturers.
In addition, Cosmochain is introducing a system that pays compensation in the virtual currency called CosmoCoin / COSM for users who created content on the platform .
The company is planning to release the application “ COSMEE “ which creates a social media platform that shares beauty-related contents on August 20 this year.
As the virtual currency has already spread widely in South Korea, it seems that it will be expected that the Korea-representing Kakao Corp’s initiative, will make the blockchain project such as COSMOCHAIN more popular.
For more details about Cosmochain and COSMEE, please visit the websites below.
※ The contents above contain information subject to change or yet to confirm under the contract. Also, It serves no purpose of recommending or attracting investment in Cosmochain project and is exclusively for sharing information. Accordingly, any results from making a decision based on the contents as a reference are the responsibility of the decision makers themselves. In other words, the Cosmochain Team holds no legal responsibility for any damages, losses or other results.
Medium : https://medium.com/@Cosmochain
Cosmochain Web: https://cosmochain.io