1. Please introduce yourself.
Hi, I’m Jiwoon Seo, sales manager of FitsMe Service in Cosmochain business team. Previously, I was responsible for data sales and partnership in IT sector.
2. What product or service do you sell?
FitsMe is a curation service that recommends cosmetics based on personal data. It’s also a beauty channel where 98% of users are female.
As for companies, FitsMe is an effective channel for targeting customers whom brands want to appeal to and a channel where companies can take a different marketing approach than traditional marketing channels and simple targeting by social networking services.
I design and sell products that can promote to a range of customers that the brand target.
3. From a business perspective, what strength does FitsMe service have compared to other beauty service competitors?
‘What if I’m in charge of brand marketing?’ I think this the first thing to ask.
Brands operate a number of marketing channels on and off. Each channel is comprised of users with various characteristics depending on the content. One of the most efficient marketing channels would be a channel with a large amount of personal data where the people closest to the persona that the marketing managers want to target are gathered.
For instance, when promoting blockchain, it becomes much more effective to promote it on coin related community rather than Instagram.
FitsMe service was built around personal data, and as a targeting channel, I can definitely say that it’s an attractive service.
4. We want to know how FitsMe service is viewed in the beauty industry. They are surprised first because it’s developing too fast. It’s growing fast, not far behind the traditional startups who took the royal road.
Second, they are just generally curious about our service. The Beauty sector has not had much of a Disruption compared to the evolution of IT. The industry doesn't even know how to use the data. It's even more vague about blockchain.
Someone has to lead the market, and we have a desire to be a first mover.
5. What about blockchain? How do they think of blockchain?
Beauty companies are very curious about the reliability of their review data, the efficiency of advertising execution, and so on. Many companies agree that blockchain technology, with its transparency and immutability, can potentially address these questions.
Although the implementation process may be long and difficult as it is an early technology, companies are still very interested in it and keeping eyes on the progress.
6. Are companies really interested in FitsMe service? Which companies are they?
Yes, of course. More companies are interested than I thought.
However, blockchain is of interest to companies of scale who utilizes data in their business.
Almost all companies are interested especially in marketing channels and collaboration. Of course, there are doubts behind that since we grew up too fast.
7. How is sales connected to the overall Cosmochain ecosystem and its blockchain?
We’re designing a token model that allows part of the revenue generated through sales to flow into the Cosmochain ecosystem and distributed to stakeholders including providers of data. Details of the token model will be released later this month.
8. From a business perspective, how can the FitsMe service be improved?Since we have set our first goal as data, I believe that we need to improve our content UI and UX. But it’s natural for early start-ups to focus on the core, and I want to slowly improve our weaknesses.
Of course, the faster the external growth of services as a whole, the better it is for business.
9. What is a long term business goal of Cosmochain?
Ultimately, Cosmochain aims to secure a large-scale user-centric database and conduct data business. In this process, we want to compensate service users, who are the providers of data, with fair rewards for their contribution.
In the end, our goal is to develop our ecosystem to the point that the growth of our ecosystem will be reflected in the value of our currency.
10. Any last words to the holders?
I first want to say thank you to holders who always trust our team.
I will do my best to meet the expectations of holders, make sure that Token economy runs effectively, and find partners that can serve as the basis for that. Thank you.
1. Cosmochain ranks first on State of the Dapps
Cosmochain has ranked 1st among all the global DApps on the Dapp ranking platform “State of the Dpps.”
We believe that Cosmochain was able to rank so high because FitsMe service is generating high quality beauty data as well as meaningful user transaction.
Based on this data and user base, we will work hard to introduce a complete DApp with token models.
2. Cosmochain participated briefing session for Klaytn’s ISP
On Friday, September 20th at 2 PM, we participated in a briefing session for Initial Service Partners at Klaytn’s office and shared our know-how with the partners.
This session was attended by CBO Juyong Kim and Blockchain Lead Yoorim Gang, who explained to Klaytn and its partners about Cosmochain’s contract structure and tx creation cases.
3. Cosmochain Holder Meeting in Busan
We are holding our “Cosmochain Holder Meeting” this Saturday, September 21st in Busan, South Korea.
Unlike the traditional style of coffee chat, this meeting is a place to share the vision and direction of Cosmochain and to listen to holder’s opinions in a close proximity. Holders who can attend are encouraged to participate.
(additional recruitment by 9/20, 8 PM )
4. CosmoCoin(COSM) will be removed from KuCoin exchange
The decision was made as:
1) We were unable to reach a mutual agreement with KuCoin regarding Klaytn mainnet support in the process of migrating to KCT-based COSM
2) There is no meaningful trading volume or liquidity.
Therefore, we kindly recommend you to withdraw your COSM from KuCoin to other exchanges or wallets which support ERC20 COSM (http://bit.ly/COSM_Exchanges) as soon as possible. The withdrawal will only be supported for the next 3 months.
Please note that if you withdraw COSM to exchanges which have already completed migration to KCT-based COSM (UPbit, Coinone, Bittrex), your COSM will be lost with no option for restore.
(Answers to the most frequently asked questions within our community)
It will be released at the end of Q3, and we are now finishing the documentation for the release. After release, the token model will be booted in level-by-level basis, and a weekly commentary on the token model will also be uploaded in line with the booting schedule.
2. There is a rumor that FitsMe service’s DAUs are generated by foreign abusing. Is it true?
We can explain that this rumor is not true for two reasons.
1) To date, we have only offered FitsMe service in Korean, targeting Korean users. So it’s not true that most of the DAUs are foreign abusers. The service indicator below shows that the majority of users (99.5%) are Korean.
2) Also, abusing is not possible because FitsMe service does not yet have reward system. We have put a lot of effort into designing reward level and distribution algorithms so that there is no abusing when reward system gets really implemented.
3. will there be any additional token swap?
Currently, more than 95% of tokens are swapped except for the team volume, and we are working on a variety of methods to quickly support the remaining volume as well.
We have completed discussions and technical integration for token swaps with an exchange for foreign holders, but the swap schedule is being delayed due to complexities between our agencies. As soon as the schedule is fixed, we’ll guide you to help you swap as much of your remaining volume supplies. We are also considering a way to support a direct swap from the team.
Cosmochain is a blockchain project based on beauty data, founded in March of 2018. We aim to contribute to the development of beauty ecosystem by systematically managing data incurred within beauty industry, and data to those in demand through our platform,
On June 2019, Cosmochain launched its main service “FitsMe” based on the 1.5 million data points incurred through its pilot service. So far, FitsMe is performing well, ranking 6th within Beauty Category of Google Play Store, with an MAU of 20,000 people.
● Cosmochain Web: https://cosmochain.io/
● Telegram(Announce): https://t.me/cosmochainannouncement
● Telegram (KOR): https://t.me/cosmochain_english
● Telegram (ENG) : https://t.me/cosmochain_global
● KakaoTalk(KR): https://open.kakao.com/o/gAMfQpU
● Medium : https://medium.com/Cosmochain
● Twitter: https://twitter.com/cosmochain
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