Perfect365, an augmented reality beauty app with more than 100 million users, has integrated the Kin cryptocurrency in a bid to bring more women into the crypto market.
Through the integration, Perfect365 becomes a major AR beauty platform offering native ways to transact with cryptocurrency. Now, users will be able to earn Kin within the Perfect365 app and spend it across the growing Kin Ecosystem of apps.
The messaging app company Kik created the Kin cryptocurrency a year ago, raising almost $100 million from the sale of its Kin tokens. And now Waterloo, Canada-based Kik, through the Kin Ecosystem Foundation, has been signing deals with partners like Perfect365 to make its cryptocurrency broadly available.
Perfect365 users can experiment and engage with new beauty looks, using AR within the app, from well-known beauty brands, including NYX Professional Makeup, NARS, Hot Tools, Ipsy, Sony Pictures, Anna Sui, and many others.
Males are the majority of cryptocurrency users, and women’s lack of inclusion has been notable. In a recent Perfect365 user survey, only 12 percent currently own some form of cryptocurrency, yet 42 percent are interested in it and 34 percent have plans to acquire it. A recent article in Forbes stated only five percent of cryptocurrency enthusiasts are women.
Although the number of women involved in cryptocurrency is on the rise, there has yet to be a platform to bring cryptocurrency to women on a massive scale. With an audience made up of 92 percent women, Perfect365 is the first AR beauty app to bring cryptocurrency to a female audience.
“The Kin Ecosystem continues expanding across exciting categories of consumer apps, and integrating Kin into Perfect365 allows us to introduce cryptocurrency to an untapped demographic,” said Dany Fishel, president of Kin, in a statement. “We look forward to uncovering more unique and meaningful use cases for Kin as we work toward achieving our goal of becoming the most used cryptocurrency in the world.”
Registered Perfect365 users will be able to earn Kin on the Perfect365 platform by answering survey questions. Additional opportunities for Perfect365 users to earn Kin, like creating and sharing makeup looks, will be added in the coming months. Together, Kin and Menlo Park, California-based Perfect365 will continue scaling the integration to provide users with additional experiences powered by Kin.
“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,” said Sean Mao, CEO of Perfect365, in a statement. “Now, as the first AR beauty platform to introduce Kin’s cryptocurrency, we are bringing more value to our audience in allowing them to become active in the new economy of the future.”
Kin is currently available for a test group of Android users in the U.S., India, U.K., Canada, and Australia. The roll-out will continue through next month until 100 percent of users in each country are able to access Kin.