Cryptocurrency Debuts in Reality Beauty Platform

Augmented reality beauty platform Perfect365 aims to entice more women into blockchain and cryptocurrency by integrating digital currency in its platform.

The augmented reality (AR) beauty industry is the latest to embrace the cryptocurrency revolution with Perfect365 integrating Kin, the cryptocurrency for consumer apps, to the beauty industry.

In a statement, Perfect365, an AR platform that uses advanced face detection technology to provide the most accurate virtual makeup placement, said that its more than 100 million users could start earning Kin within the Perfect365 app within a week and spend it on premium Perfect365 features.

Sean Mao, president and CEO of Perfect365, Inc., commented:

“From its inception, as the first platform to introduce Augmented Reality to the application of makeup, Perfect365 has focused on being a trailblazer and introducing new technologies and features that benefit its users and brand partners. Now, as the first AR beauty platform to introduce Kin’s cryptocurrency, we are bringing more value to our audience by allowing them to become active in the new economy of the future.”

Mao added its users could still engage with complete beauty looks or experiment using AR with the app from popular brands, including Anna Sui, ipsy, HOT TOOLS, NYX Professional Makeup, NARS, Sony Pictures, and others.

Kin president Dany Fishel added:

"The Kin Ecosystem continues expanding across new categories of consumer apps, and integrating Kin into Perfect365 allows us to roll out cryptocurrency to an untapped demographic. We look forward to uncovering more unique and meaningful use cases for Kin as we work toward achieving our goal of becoming the most widely-used cryptocurrency in the world.”

According to Perfect365, it has noted that the majority of digital currency adopters are male with female users a far second. A survey conducted by the company among its users have found that only 12% of females own some form of digital assets, with 42% interested in virtual currency, and another 34% planning on acquiring cryptocurrency.

Perfect365 also points to a Forbes article showing that only 5% of digital currency enthusiasts are women. The number of women into cryptocurrency is rising, but there is still no platform to serve women’s interests and encourage them to adopt the technology on a massive scale.

With 92% of its users being women, Perfect365 claims it would become the first AR beauty app to serve those demographics and attract them towards cryptocurrency.

The need for greater representation of women in blockchain and crypto is noticed in circles beyond the digital. In a blogpost in June by Council on Foreign Relations (CFR), adjunct senior fellow for Women and Foreign Policy program Catherin Power and CFR research associate in international economics Mayia Moncino noted that women are "shockingly underrepresented" in the blockchain and cryptocurrency spaces.