• Mon. May 20th, 2024

Kiki World, a Web3 Beauty Company Recently Announced $7 Million of Seed Round, Aims to Become Miss Web3’s Biggest Sponsor?

ByDylan

Apr 12, 2024

The integration of Web3 technology and values is becoming a new path for many traditional industries to break through bottlenecks and rapidly expand their reach. Players in the medical aesthetics industry are also working towards this goal.

According to a PR Newswire report, on April 9th, US time, Web3 beauty startup Kiki World announced the completion of a $7 million seed round of financing, with participation from a16z Crypto, New Incubation Ventures (Estée Lauder’s investment company), OrangeDao, and 2Punks Capital.

Kiki World is a blockchain-based open community platform for beauty products. Users can vote on the design and features of products before they are produced. Founded in 2023, Kiki World has previously launched NFTs, but with limited attention. Why was Kiki World, established for only about a year, able to secure a $7 million seed round with such a luxurious lineup of investors? Shifting our focus to South Korea, thousands of miles away from the United States, might provide the answer.

On the other side of the globe, the world’s first blockchain-based beauty pageant, Miss Web3, is kicking off in Seoul, South Korea, attracting global attention. Amidst the crypto bull market, Wall Street capital and top US research teams have recognized the potential of Web3 technology to fully showcase the value and charm of women. However, this trend needed a catalyst, and the timely Miss Web3 event provided these trend-savvy investors with a keen opportunity.

The deeper purpose behind US investors like a16z backing Kiki World is to empower women worldwide to redefine the right to beauty through blockchain technology and platforms. This will effectively activate the immense commercial value of the medical aesthetics industry and truly achieve Web3’s breakthrough. However, Kiki World’s shortcomings are relatively apparent, with its short establishment time and lack of a complete Web3 closed-loop ecosystem, making subsequent operations and promotion a significant challenge.

In this context, integrating with the Miss Web3 event and becoming a key component of its value ecosystem could enable Kiki World to achieve rapid brand fission and traffic explosion, thereby shortening its global exposure cycle and becoming a leading community for Web3 women’s beauty product design.

Therefore, it is rumored that based on the above judgment, the Kiki World project team has already begun preparations to collaborate with Miss Web3 officials. Core members of the Kiki World team may personally travel to Korea to leverage the Miss Web3 event’s popularity for brand exposure.

Furthermore, at the final stop of Miss Web3 in Las Vegas, USA, Kiki World officials have also expressed their desire to leverage their home-court advantage to become the event’s biggest sponsor. With a relatively sufficient publicity budget after the recent financing round, Kiki World’s backers believe that collaborating with Miss Web3 will be a significant opportunity for project development, and they do not rule out the possibility of additional large-scale financing rounds in the future.

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