By
Bhushan Akolkar
April 22nd, 2024
Through the partnership with NEAR Foundation, Cosmose AI will expand its individualized experiences to its worldwide clientele through several channels.
Cosmose AI, a leading AI and retail company, is partnering with NEAR Foundation to bring Web3 personalization to retail shopping. While the strategic investment by the NEAR Foundation was not disclosed, it raised the valuation of Cosmose AI from $100 million to $500 million.
The partnership will leverage the power of AI and blockchain to create hyper-personalized shopping experiences that increase loyalty and happiness. It will also incorporate a new crypto payment system that helps buyers and sellers save money.
Before the investment, Cosmose had served 20 million stores globally and had a team strength of 80 staff. Now, the duo are looking to reach at least one billion users with their AI and Web3-powered payment system.
How KaiKai Is Changing Retail Shopping
Cosmose AI’s flagship mobile application KaiKai offers a unique shopping experience known as Shoppertainment. It combines shopping, retail, and gamification, creating an altogether different experience for the retail shopper.
KaiKai gives users access to exclusive product drops, geolocation features that display available products in the vicinity, and rewards for products purchase and review writing. With its Near-powered payment system, users will save up to 50 times on their transactions when compared to traditional payment systems like Stripe.
According to a Cosmose board member, George Raymond Zage III, founder and CEO of Tiga Investments, “The investment from NEAR Foundation is a testament to Cosmose AI’s strength and potential to revolutionize e-commerce and the retail industry.”
How the Web3 Personalization Will Look
Even more ambitious than the lowering of transaction costs is the decision to pursue a hyper-personalized experience for customers.
While shopper and user personalization are not new in retail shopping, Cosmose approaches it differently. The company’s platform gathers and analyzes user data to produce suggestions and experiences that are personal to each user. It then gives users access to their data who can then determine how they want their data used. It does this while ensuring their privacy and security.
Through the partnership with NEAR Foundation, Cosmose AI will expand its individualized experiences to its worldwide clientele through several channels, including online, in-store, and mobile. It will also help retailers develop stronger customer interactions.