Blockchain technology is bringing radical changes to most industries, and the beauty sector is no exception.
Beauty brands from all over the world started experimenting with blockchain technology and leveraging it to provide a better customer experience.
Here are five beauty brands that successfully adopted blockchain technology.
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Image Credits: Cult Beauty
Cult Beauty is one of the first brands that implemented blockchain technology to counter greenwashing in the beauty industry.
Through a partnership with Provenance, Cult Beauty provides a digital platform that empowers brands to improve their transparency through a “Proof Points” system.
What is this system all about?
In principle, Cult beauty utilizes blockchain technology to look for the documented evidence that supports any claim made by the cosmetic brands on the Cult beauty platform. It also ensures that those documents get verified by a trusted third party.
Once the documents are validated, the company is allocated a Proof Point which works metaphorically as a green check sign for customers to trust that brand and any claims it has made.
In short, blockchain technology allows Cult Beauty to share trusted information with its customers such as the dated accreditations and certifications of their claims as ‘clean beauty ’, ‘Cruelty-free’ ‘sustainable’, and any other attributes. This allows consumers to make informed purchasing decisions.
Image credits: Look Labs
Look Labs is a fashion and beauty design company that innovatively merged perfume with blockchain technology, specifically NFTs.
The Germany- based brand has recently designed Cyber Eau de Parfum, the world’s first digital fragrance, created by Sean Caruso, a Canadian artist.
How was that possible? The brand leveraged the power of blockchain with the scent that has been encoded into ten limited-edition NFT art pieces. Look Lab used near-infrared spectroscopy (NIRS), a technology that measures molecule vibrations to create a digital reflection of a sci-fi-inspired fragrance.
This colorful digital reflection is represented in the form of spectrum data and encoded into a non-fungible token (NFT) artwork.
“ The aim was the ultimate luxury fragrance that combines traditional craftsmanship with the latest disruptive technology. Choosing the highest quality ingredients and materials was an imperative step in the process of designing and crafting a product that is unique and the first of its kind on the market ”
Look Labs founder – Jordan Katzarov
Image credits: CosBall
Designed by a leading south korean skincare manufacturer, CosBall is one of the world’s first personalized skincare solutions.
Powered by blockchain technology, CosBall created a beauty ecosystem where big data is stored and analyzed to ameliorate skincare formula recommendations.
Consumers can upload their detailed skin information to the blockchain system through the available skin detectors and mobile application analysis, which creates a peer-to-peer system of open data that makes formula recommendations more personalized.
CosBall improves its customers’ brand experience by creating disposable skincare capsules and building customized skincare regimens.In addition, it rewards them with CosBall Tokens that are redeemed with every new purchase.
Image credits: Purearth
Purearth is another skincare brand that has invested in blockchain technology to bring a digital dimension to its range of products.
Through a partnership with Provenance, Purearth helps customers discover the origins of its product and creates a genuine connection with them by letting them view the product journey from start to finish.
Customers can access all this information through the QR codes printed on each of CosBall products.
In an interview with CosmeticsDesign- Asia, Pureearth founder Kavita Khosa shared:
“Purearth gathers and presents information and stories about its creations, sourcing and supply chains formulation and packaging including verified data to support them. By connecting this information in-store on pack and online. Provenance help the customer discover the origin journey and impact of Pureath creations ”
Image credits: EM cosmetics
Another brand that adopted Blockchain technology is EM Cosmetics.
EM Cosmetics founder and beauty influencer Michelle Phan revealed in one of her interviews that she was very intrigued by blockchain technology and cryptocurrencies in recent years. Thus, she made sure to implement it in her brand relaunched platform.
Em cosmetics partnered with Lolli, a cryptocurrency rewards company in which Michelle Phan invested $3 million. This collaboration allows customers who place direct orders to earn 4.5% of Bitcoins via a Lolli browser extension, which works similar to the usual cashback, but customers get bitcoin instead.
BrandTag as a Solution
BrandTag is a SaaS (software as a service) solution that provides brand owners with the easiest way to prove their products’ authenticity and engage with their customers.
Powered by Blockchain technology, our Solution gives each of your products a unique ID for consumers to scan and get a wealth of information about your brand. Simultaneously, you can gain an insight into their buying intentions and behaviors, helping you in determining your brand’s next marketing direction.
Want to find out more about BrandTag? Check out our article: All about BrandTag