• 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.

    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.

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