Kiki World, a beauty brand leveraging web3 for customer co-creation and ownership, secures $7M from a16z

Kiki World’s innovative approach to beauty product creation and ownership, leveraging web3 technology and blockchain, has attracted significant investment from prominent backers such as Andreessen Horowitz’s crypto fund and The Estée Lauder Companies’ New Incubation Ventures.

By enabling consumers to co-create products and co-own the company through community participation and digital tokens, Kiki World aims to revolutionize the traditional beauty industry model. Co-founder Jana Bobosikova emphasizes the dissatisfaction with conventional loyalty programs in the Web 2.0 era, where users often receive little reward for their engagement beyond targeted advertising.

In contrast, Kiki empowers its community members to influence product development by voting on features before products are made, earning points towards free products and digital tokens as rewards. This democratized approach not only fosters greater consumer engagement but also minimizes inventory waste through an on-demand production model.

While Kiki’s voting system is recorded on the Ethereum blockchain, Bobosikova highlights that participants can engage without necessarily being aware of the underlying blockchain technology. By offering a seamless user experience, Kiki ensures accessibility for users of all backgrounds.

Andreessen Horowitz’s decision to invest in Kiki World underscores the startup’s potential to disrupt the beauty industry with its fusion of expertise in beauty and innovative understanding of web3 technology. Arianna Simpson, a general partner at a16z, praises Bobosikova’s leadership and unique blend of industry knowledge and web3 expertise, positioning Kiki World as a standout player in the evolving landscape of beauty and blockchain integration.