LG, a company that is known for manufacturing electronics, announced that its cosmetics division, LG Household & Health Care, will launch exclusive non-fungible tokens (NFTs) on OpenSea.
LG launches NFTs of its beauty brand
According to LF, its NFTs will be minted at Klaytn, with a total of 3,000 NFTs that will be created to promote its Belif beauty brand.
The launch of the NFTs is also the brand’s first step towards more integration and interaction with the metaverse.
The collection of NFTs was named Belif Universe Collection and will go on sale in March. Along with the virtual items, the buyer will also receive a package featuring one of LG’s best-selling cosmetics, Numero Essence.
The collection will be minted five times this year. Collectors of all five NFTs will receive several exclusive benefits through the collection which is partnered with the NFT Treasures Club project.
As part of its expansion plans, LG Household & Health Care has recently completed an agreement to purchase GlaxoSmithKline’s Physiogel license in Asia and the US.
The $155 million acquisition will help LG Household & Health Care expand its reach into global markets, with the company ready to market the brand in the US, China and Japan.
In addition, LG Household & Health Care also intends to acquire the rights for Turkey, Georgia, Armenia and Azerbaijan.
The company aims to develop its reach in the dermocosmetics category with the purchase of Physiogel, which will further strengthen its portfolio.
According to BusinessKorea, the company intends to launch several new Physiogel products due to its high recognition in Korea.