In an important strategic partnership, the blockchain industry has witnessed the coming together of Yizhiji cosmetic brand and VeChain blockchain platform. Through this association, NFC chips (which are fully traceable through blockchain technology) will be used in the lipstick products of the Yizhiji brand. This will be specifically relevant to ensure the authenticity of products, thereby taking the brand, consumer, and product relationship to a different level altogether.
Tweeting the details of this association, VeChain Foundation said that this was one of the practical examples of blockchain usage in the industry that would help create a long-lasting relationship between different stakeholders in the ecosystem. Yizhiji is making rapid progress in the cosmetic industry, and through this association with the VeChain blockchain platform, the organization is looking to change the rules of engagement by setting a new benchmark in customer relationship management.
Yizhiji’s lipstick product will be tagged with the NFC chips to provide all the details and information required by the customer through the data stored on VeChain. Customers can select the color, shade, and tone of the product through WeChat, which will help the customer create unique memories associated with the product.
By striking this partnership, both companies have taken a bold step to help the entire cosmetic industry in terms of innovation and adoption of blockchain technology. With time, experts feel that economies of scale will also come into the picture to make the overall cost burden associated with the NFT more affordable. This, in turn, will help other companies to come forward and embrace the technology without any cost inhibition. This new development is expected to get down well with the consumers, and if this experiment yields desirable results, we may witness a slew of more such new partnerships in the future.