Signed MOU Outlines Utility for LAB and EXP

Today, Expanse signed a partnership deal with Sports Agents 502, with the intent to migrate certain aspects of their business to the Expanse blockchain. Starting with Guatemala, then expanding to all of South America, the project is called BSports and will eventually be a global initiative.

Headquartered in Guatemala, Sports Agents 502 is an established sports management firm. Its focus is on managing and marketing elite athletes, primarily across South America. Founded in 2016, Sports Agents 502 inspires brands and sports figures to maximize the value associated with elite sports through sponsorships, events and  other activities.

Omar Alvarez, Expanse Creative Director, is working directly with Sports Agents 502 CEO, Luis Arboleda, to define and orchestrate the initiative. 

“We plan to build a Sports Smart City on the Expanse blockchain in three phases,” said Alvarez. “The project scope takes into account Tokenlab functionality already created, including minting tokens and launching smart contracts on Expanse.”

The first phase of the project involves establishing an identity on the blockchain for every athlete in every sports federation. (There are 46 sports federations in Guatemala alone.) Each athlete will have an online profile, approved by their respective federations. The federations will have the ability to record events and results on the athletes’ profile pages. This profile information can be leveraged for  sponsorships or trading. 

The second phase takes the application global, registering teams and allowing them to trade players using tokens. 

Phase three involves working with broadcasting and sponsorship contracts for TV, Radio and Internet. The goal is to bring transparency and trust to the broadcasting and trading process, as well as to facilitate securing sponsorships from local and global brands. 

“This undertaking has been a concept I have wanted to bring to fruition for some time,” said Arboleda. “The blockchain in general is the perfect vehicle and Expanse is proving to be the ideal technology partner to make it all happen.” 

Now that the Memorandum of Understanding (MOU) is signed by all parties, the planning and development begins. Watch for regular updates in upcoming newsletters. 

There are a number of high-potential projects in the works for Expanse—all designed to generate fee income to help keep Expanse afloat and utility for LAB and EXP, with the goal of creating value for token-holders.

• Private Label Bank Wallet
  A large South American bank is close to signing a deal with Expanse to private label the Luna wallet for its consumer banking customers to use when shopping with the banks’ small business banking segment.
• Startup Poised to Launch on Expanse Blockchain
  A start-up with very high potential is close to making a decision about launching their project on the Expanse platform. We have been nurturing this opportunity for some time, and are feeling somewhat confident that we will have an announcement for you in the very near future.
• Crypto Starter Kit
  As yet unnamed, this concept is to bring everyday Joes quickly and smoothly into the world of  Bitcoin and cryptocurrency. Just in time for Christmas, this product is intended for mass-marketing to the general population. The concept is not entirely new, but we think we can do it better.
  Purchasers will receive small amounts of EXP and LAB to work with as we walk them through various entry-level processes culminating in minting their own coin on Tokenlab. We plan to license content from and work with the creators of some very well-established training courseware. Although we have a verbal agreement with them, we hope to have the MOU signed next week.  

Our development team, managed by Asim, has been off this past week celebrating Eid al Adha. This is a Muslim holiday celebrated around the world that lasts for several days.  Asim and team will be back hard at work on Monday. Asim purchased this bull for the celebration.

Jitendra Rathod, newsletter contributing editor, provides insights into how blockchain technology is transforming the beauty industry. 

“Makeup is not a mask that covers up your beauty; it’s a weapon that helps you express who you are from the inside.”
Michelle Phan

From the dawn of time, vanity and its never-ending need have gone hand in hand. From the age of Cleopatra to the Victorian era, beauty secrets have a way of passing down from one generation to the next. Fast forward a few decades, this sprawling industry is now valued at over $532 billion.

The last 10 years witnessed an exponential spurt in the beauty domain. YouTube, with its ever-expanding user-base, has aided tremendously in this rapid spurt. The year 2018 recorded about 169 billion views on beauty related content. “Beauty Gurus” have now become self-made millionaires, thanks to wide consumerism.

Needless to say, modern advancements in technology have dominated and engineered various sectors of our society with the beauty industry proving to be its new playground. 

Innovation and Retail

The beauty scene today has changed dramatically. With the advent of technology, mankind has brought the art of vanity literally to your fingertips. From customized skincare to personalized beauty solutions from the experts, everything is within your reach.

The growth of direct-to-consumer beauty brands that manufacture and send their products directly to buyers and consumers without the hassle of middlemen has revolutionized the market. Direct-to-consumer companies sell their products at relatively lower prices than your traditional brands allowing for greater transparency in marketing, management, and distribution of the products. These brands cater specifically to the needs and want of the customer.

Consumers today don’t have the patience for traditionalistic “one size fits all” requiem. The reality is different now. What works for one will not work for the other. New age beauty brands like Glossier, Milk Makeup, The Ordinary, and Mario Badescu have hit the spot/ nail with their modern marketing approach. For instance, Mario Badescu, in just 6 months, outranked age-old brands like Clean and Clear and Clinique to grab the number 2 spot for teen girls’ favorite skincare brand as reported in Piper Jaffrey’s semiannual “Taking Stock With Teens” survey. 

Glossier, launched by Emily Weiss, has taken a more personalized stance in the market. The brand, through its campaigns, has specifically focused on the au naturel stance, celebrating the customer’s natural beauty. It is all about bringing the best in you forward. Glossier lets your beauty do the talking as it should be. 

How Blockchain is Helping Transform the Beauty Industry 

Blockchain technology has cemented itself in every sector of our growing society. From healthcare, education, finance to even governance, the rise of blockchain doesn’t seem to stop. In the beauty sector, blockchain technology has been incorporated by various beauty brands. Let’s see a couple of industry examples.

Jolyy: Online booking beauty platform, Jolyy came into the market in 2016 with its efficient booking strategies for websites across Europe. The first version of the booking platform was well received by consumers leading the company to now focus on upgrading the platform using blockchain technology.

With the aid of blockchain, Jolyy plans on increasing user efficiency to initiate faster payments and cutting down on commission costs. The upgraded platform would be based on the Origin Protocol, using the Ethereum blockchain network. The decentralized platform would enable users to book various beauty appointments at the click of a button, and finding the lowest prices for beauty treatments, opening days and hours.

Consumers and clients would now be able to interact directly with enterprises and businesses without the inconvenience of a middleman. Jolyy has also come up with the company’s native token, JOY, for its users to process cashless payments and to check-in rewards. 

COSMEE: Cosmee, a blockchain-based beauty platform launched by Cosmochain, provides the perfect amalgamation of modern technology and age-old tried and tested methods. Cosmee believes in rewarding both the user and the companies on its platform.

Members of Cosmee would typically be rewarded for creating beauty content using products of the companies mentioned. Users are rewarded in Cosmo Coin (COSM), the site’s native token, according to the level of their interaction within the community. Users can pitch in their ideas, write blogs, create videos or just “like” and “comment” on various posts.

Cosmee is currently the first company to incorporate a “token reward” system for users and enterprises alike. The more active one is in the Cosmee world, the more reward one gets. The company with this initiative plans to get rid of the “influencer only” ideology adopted by social media platforms like YouTube and Instagram.

The Cosmee team is currently in its initial stages of platform development and is solely focused on preparing a solid user base and maximizing customer satisfaction by providing for transparency between the consumer and the buyer.

Blockchain Proving to be a Hand of Gold for the Beauty Sector?

Digitization has truly transformed the game for enterprises, both large and small. Companies are constantly on the lookout for more efficient techniques to expand their resources and provide the best online user experience. Brands not only make use of websites but have also incorporated various innovatory methods like chatbots and virtual reality sections where the users can get a free trial run while sitting in the comfort of their homes.

The adoption of blockchain technology would enable companies in the future to entertain consumers’ honest reviews regarding various products. Making use of this data, companies would be able to hone their marketing and digitization strategies in a coherent and well-structured way. The focus could then be driven to increase profit and revenue while subsequently decreasing marketing and product development costs. Blockchain technology isn’t limited only to its marketing tactics, the technology provides for increased digital connectivity between users and medical professionals alike.

The beauty industry is estimated to grow up to $750 billion by the year 2024. According to EDITED’s retail data platform, UK’s H&M increased their beauty section by 94.8%. Beauty newsletters and mentions in emails also saw a dramatic rise by about 58% in the US from 2017-18 and up to 24% in the UK. From advancements in skincare to technological influences, blockchain is proving itself to be the gateway of the future.