global forum Cosmos AI partnered with Near FoundationSupports the governance and development of Swiss non-profit organizations near Protocol, announcing a strategic investment from the foundation and valuing the company at $500 million.
Founded in 2014, Cosmose AI is a company that uses AI analytics to track in-store foot traffic, predict how people shop offline, and connect with online shoppers. By gathering insights from smartphones, it helps it understand people’s offline shopping habits and “increases footfall across 20 million locations in Asia”. Said the announcement.
Comos works with leading companies, such as lvmh, richmont, lorealAnd Estee Lauder, It also provides AI-powered recommendations to encourage its users to shop at nearby stores to save time, money and the environment, it added.
The amount invested in Cosmose was not disclosed, but raised the company’s valuation from $100 million to $500 million when it closed its $15 million Series A in 2020, which was led by Tiga Investments, OTB VenturesAnd TDJ Pitango,
The company said that,
“With this new investment, Cosmose is poised to apply Web3 principles and advance the AI-powered retail ecosystem. […] Cosmose will continue to innovate within the Web3 ecosystem to create seamless experiences for shoppers and drive sales for retailers.”
Online payment processing (without blockchain) is ‘absolutely insane’
The partners are building a payment system that allows users to shop with crypto at low transaction fees, thus saving money for buyers and sellers alike, TechCrunch reports. informed of,
“I’m not sure if you know how expensive and slow it is to process online payments. It’s absolutely insane,” Miron Mironiuk, founder and CEO of Cosmose AI, told the news outlet. This includes additional charges paid by the customer and levied by intermediaries.
Blockchain is the solution to these problems. Near is meant to make online payments faster and cheaper for consumers and sellers served by Cosmose.
Cosmose said it will leverage the power of web3 To ensure that users retain complete control over their data and benefit from the ecosystem they help to build, therefore ensuring “the highest level of privacy for users”.
The company’s two products, cosmos media And KaikaiThrough this partnership, it will “advance Web3-powered innovations”.
Kaikai, an app that allows users to find products near them and pay through the app, is leveraging the NEAR protocol. It created its own crypto, Kai-Ching, which is used for payments, cash-back and rewards.
According to Cosmose CEO, for some products, annual transaction costs are 50 times lower than KaiKai paypal Or Bandage,
“Imagine how much you could save if all payments were moved to the blockchain,” Mironiuk said.
He added that more than 50% of Kaikai app users are Gen-Z, who are “better comfortable” with using crypto because they know they “own it,” CryptoDaily informed of,
As per the announcement, the company is building on Near from 2022. “Together we will build a future where one billion users will benefit from the ecosystem they are a part of, with full control of their data and enhanced AI-powered personalization.” Mironiuk said.
Marieke Flament, CEO of Near Foundation, said,
“The company has been building on the NEAR testnet for some time already and with this additional support, Cosmose will have many more opportunities to develop and expand its offering with Web3 that is sustainable, transparent and infinitely scalable. Are.”
Near and Cosmos are also reportedly working on a system that would enable users to see how they are being tracked, including location data and time spent in stores.
Meanwhile, Cosmose said it has expanded its product offering and geographic footprint since the 2020 fundraising, making the platform available to customers in mainland China, Hong Kong, Singapore, Japan and Southeast Asia.
,
learn more:
, AI and Crypto Combining: OneCiber Unveils GPT-Powered Custom Metaverse World – How Does It Work?
, eBay to launch ‘digital wallet’, introduce ‘fractionalization’
, Amazon Drops NFT Bombshell: Official Email Teases Digital Token and Platform Gallery
, Amazon and 4 others to work on digital euro prototype
, ChatGPT is helping this new project take crypto discovery to the next level – a game-changer for the industry?
, Shopify Not Allowed To Stop Crypto-Related Lawsuit
, 9 reasons your business should accept bitcoin
, Who accepts Ethereum as payment? 8 Places You Can Spend ETH