Il Makiage Owner Launches IPO-Linked Digital Security Token

0

Dubbed “Oddity Token,” and built on Ethereum blockchain, the digital security will convert to discounted shares in Oddity at the time of an IPO. The token is being offered from Apr. 26 to May 11 and will not be tradeable, so investors will have to hold the token — which is embedded with data and smart contracts — until an IPO.

“We are building a new bridge to link traditional markets with the vibrant world of digital assets, where the innovation potential is huge,” said Oran Holtzman, co-founder and chief executive of Oddity, in a statement.

The debut of Oddity Token follows the company’s $1.5 billion valuation, after it closed a $130 million round led by tech investor Thomas Tull in January. Prior to the round, L Catterton was Oddity’s sole investor. Oddity launched its second beauty brand, youth-focused skin care line SpoiledChild, in February, after acquiring artificial intelligence start-ups Voyage81 in August 2021 and NeoWize in November 2019.

Learn more:

How Brands Are Using NFTs to Keep Customers Hooked

Brands like Adidas, Gucci and The Hundreds are finding the tokens are a great way to reward their superfans. But maintaining that loyalty can be hard work.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Fashion News Click Here 

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment