LG first in S.Korea cosmetics industry to digitize beauty brand with NFTs
LG Household & Health Care is minting 3,000 non-fungible tokens (NFTs) on OpenSea to promote its beauty brand Belif with plans to further expand linkage with the metaverse.
See related article: TV home shopping in South Korea moves to the metaverse
Fast facts
- LG’s Klaytn blockchain-based NFT collection consists of 12 characters from the Belif beauty brand universe, with which the company aims to promote brand values in customers.
- In 2020, South Korea’s burgeoning cosmetics industry was the third-largest cosmetics exporter behind France and the U.S., according to the country’s Ministry of Food and Drug Safety.
- A total of 3,000 NFTs called the Belif Universe Collection will be on sale this month, arranged as a bundle with one of LG’s best-selling cosmetic products, Numero Essence.
- The collection will be minted five times this year — collectors of all five NFTs will be given various membership benefits.
- In partnership with NFT project Treasures Club, LG says it will continue to pursue its ventures in NFTs and the metaverse.
See related article: 20,000 line up for S.Korean convenience store’s NFTs on White Day
