You’ve likely chosen a nail polish color or pondered over ingredients in your skin cream without ever imagining the blockchain could ever be part of this equation. Well, LA-based beauty startup, Kiki World, is proving old notions wrong. Launched last year, Kiki is inviting customers to be co-creators of products and co-owners of a company, employing web3 technology. Here are five exciting takeaways from Kiki World’s progressive approach:
1. Placing Power in the Hands of Consumers
In a brand new twist, Kiki World is making the bold move of inviting customers to participate in product conception, manufacturing, and ownership. With the help of web3 technology, the startup is revolutionizing traditional models of business ownership and product creation by directly involving consumers.
2. Democratizing Beauty
Kiki World’s innovative approach breaks down barriers and disrupts how the beauty industry has traditionally operated. By inviting customers to be directly involved in the creation and ownership of products, Kiki is forging a path of democratization in a field that has long been dominated by key players.
3. Elevating Transparency through Blockchain
Kiki World is leveraging the power of blockchain to increase transparency to previously unseen levels. Using blockchain for product formulation and creation processes not only allows consumers to know what they’re putting on their skin, but also makes the company accountable for its decisions.
4. Innovative Use of web3 Technology
Web3 technology lies at the heart of Kiki World’s business model. Showcasing its potential beyond cryptocurrencies, Kiki is using web3 to shift the control of the company to the consumers—making everyone a potential stakeholder in the beauty startup.
5. Potential for Shaping the Future of the Beauty Industry
As Kiki World continues to weave blockchain technology with the fabric of the beauty industry, it’s setting a blueprint that could shape the future of the sector. By coupling tech evolution with consumer involvement, the startup offers an exciting potential of a participative, democratic beauty industry.
As Kiki World charts new courses with blockchain and web3 technology, one fact remains abundantly clear: the beauty industry will not—and indeed should not—remain immune to the digital renaissance. The fusion of beauty with tech is a reality, and it has promising outcomes for consumers’ empowerment, transparency, and democratization. The future indeed looks beautiful and bright, with a dash of blockchain sparkle!
Credit: BBC. TechCrunch, Reuters
