Beauty blockchain firm Cosmochain has attracted US$2.50 million (2.98 billion won) token investment from a U.S. hedge fund.
Cosmochain is a blockchain project that has attracted attention when Samsung Electronics selected it as an initial dApp partner for its Galaxy S10 Smartphone in March. The Galaxy Keystore, the native cryptocurrency wallet for the Galaxy S10, supports “CosmoCoin (COSM),” the cryptocurrency used in COSMEE, a blockchain-based beauty content platform.
Cosmochain said on May 20 in its official website that it has attracted the investment from U.S. hedge fund firm Ulysses Capital located in Los Angeles. Ulysses Capital will purchase US$2.50 million (2.98 billion won) worth of COSM.
Cosmochain operated a beta version of “COSMEE” for three months from August last year. During the beta service, it gained a lot of attention and attracted 150,000 users.
Cosmochain is planning to launch its official blockchain-based app service “FitsMe” within the first half of this year. FitsMe, which is an upgraded version of COSMEE, is a personalized beauty recommendation service. Based on users’ past purchase data and preference data input, FitsMe recommends the optimal cosmetics product.