Beauty is a highly prized possession. Helen of Troy can attest to this for hers was the most beautiful face that launched a thousand ships.
In the modern times, the payment for beauty may not anymore come in the form of bloody contests or warring nations. Yet beauty is still highly valued to the point that people risk going under the knife only to obtain the desired level of attractiveness. Money is not a consideration where cosmetic procedures, services, and products are concerned. People are willing to save and pay for the price of beauty.
The entire skincare industry is in fact valued at $112 billion and in 2022 the number will grow to $155 billion. The beauty device and accessories section alone generates an astounding $23 billion which increases annually by an average of 14%. Interestingly, most market research would concur that this steady raise is largely due to the increasing incomes in developing countries.
However, although the beauty industry is thriving, it is far from being perfect. It remains impartial to those who cannot afford and are not well-connected.
Thankfully, the Internet, along with the rise of blockchain technology, has paved the way for developers to create global beauty platforms that will set new directions for all the market players – the consumers, product manufacturers, and dermatologists. Among the initiatives put forward is the OPU ecosytem.
What is OPU?
OPU, a blockchain skincare ecosystem, recognizes all the existing problems that plague the beauty industry and came up with an innovative solution to benefit all market participant. It primarily resolves the common problems of product affordability, availability, effectiveness, and lack of trust by tokenizing the beauty industry.
Simply put, OPU brings together all market players – the consumers, product manufacturers, and cosmetologists, in one single and coherent global online space. By doing so, it integrates the what has long been considered as segmented market sections. And in the process, OPU uses tokens called OPU coin which is needed when availing the product or service within the platform. Once transferred and received by the intended recipient, the OPU tokens can be converted to fiat or other crypto currencies as conveniently, efficiently, and safely as possible.
All market players are also rewarded for using the tokens. There are certain activities to complete in order for the consumer, the producer, and the beauty doctor to gain rewards, which may vary from time to time. This promotes loyalty and increases engagement.
Who benefits from OPU?
Everyone benefits. Unlike other blockchain platforms that are partial to a specific market player, OPU levels off the field for every participant.
Consumers. The consumers at large face the difficulty of choosing the right product for their skin type. Often, they rely on the recommendations of their friends or families. In countries where celebrity idolization is strong, consumers buy and use the endorsed products, not knowing that skin problems vary according to skin types and as such skin solutions also differ. What may work for her may not work for you.
Other constraints, such as the lack of time to search for effective beauty products and the lack of budget to consult with a cosmetologist or dermatologist also hinder a typical consumer from having the best treatment. Other times, there is just too many products promising almost the same results in the market that the consumers may be confused.
OPU resolves all these problems by creating an e-commerce site slash online consultation service. The consultation services are indeed cheaper. The team has partnered with a broad range of skin and beauty experts who are willing to provide advices to their global patients. More so, OPU makes use of artificial intelligence (AI) that conducts an analysis and comparison and gives out recommendations based on the user skin profile. Then, since OPU is also an e-commerce site, the users will have a ready selection of products, complete with reviews and ratings from the community. Payments are secured because the platform is anchored on a blockchain network, particularly on the Ethereum ecosystem.
Indeed, this is revolutionary. For consumers in the developing countries, access to globally-renowned dermatologists is not a problem anymore. If one consultation is not sufficient, then a user can choose to have a second or even a third opinion for minimal fees only.
Product Manufacturers. The business sector is also on the winning side. They will have a wider consumer base which implies higher sales. With OPU, advertising is made even more convenient for local entrepreneurs since the platform already has existing database of product users.
Product manufacturers gain rewards by completing achievements as well. This makes OPU a perfect avenue for those beauty entrepreneurs who are yet starting. Increased market participants will lead to increased employment, which will help the host economy. Not to mention, that the feedback mechanism allows them to improve their services and products, even without spending too much on a typical costly market research.
Dermatologists. Likewise, beauty and skincare doctors and clinics will have the number advantage because OPU’s reach is global and transaction fees are minimal. They also get to enjoy rewards after fulfilling the activity requirements. Where else could someone find a platform that rewards you for doing your profession? More so, their work is made easier with the AI-assisted analysis of the patient’s sample.
On a larger scale, OPU will indirectly help push the host economy of the registered dermatologist. This is because the possibility is high for the doctors to earn more and employ more people under their care. Their purchasing power and their clinic’s increased employment will have a cascading positive effect on the economy, especially on developing economies.
How will OPU come to life?
This technology will surely be a success because of its features and value to the market players. To fund for the development, the OPU tokens will be for sale and select buyers will be given the opportunity to participate. Here are some essential details to remember for the ICO:
Ticker: OPU
Price: $0.059259 per token
Soft Cap: $3 million USD
Hard Cap: $37 million USD
Since the OPU coin is the first to be created in the skincare industry, the possibility of its return is quite high. More so, the beauty industry is perhaps the only kind of industry besides food that never gets old but only increases in value.
For more information and details on the project, find them by visiting their official website or reading their whitepaper. Be updated as to the current events happening during the ICO by visiting their social media pages.
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3373026.0
Website: https://ico.opu.ai/
Whitepaper: https://ico.opu.ai/wp-content/uploads/2018/07/OPU-Whitepaper-v2.2.2.pdf
Telegram: https://t.me/opulabs
Facebook: https://facebook.com/opulabs
Twitter: https://twitter.com/opulabs
Medium: https://medium.com/opu-labs
Author: Instaco
Author Link: https://bitcointalk.org/index.php?action=profile;u=2050406
Eth Address: 0xA683859da691f99a27Ea40f41DC192059D364405
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