Softech Corporation Conducts LOTT Token Private Sale with Beauty Bakery

[Asia Economy Reporter Hyunseok Yoo] Softec Corporation announced on the 22nd that it will conduct a private sale of the ‘LOTT Token’ overseas, including Europe and Japan, in collaboration with Beauty Bakery.

Softec Corporation, a blockchain platform and IT solutions development specialist, is jointly promoting the ‘LOTT Project,’ a new blockchain platform business that integrates NFT and metaverse technology with K-Beauty and K-POP together with Beauty Bakery.

Established in Singapore, Softec Corporation is a company possessing Fourth Industrial Revolution technologies such as NFT, big data, artificial intelligence (AI), and VR/AR. It is currently developing the blockchain-based platform ‘LOTT Project’ in cooperation with Beauty Bakery. The ‘LOTT Project’ is a platform that uses the ‘LOTT Token’ as a payment method through a blockchain-based payment system for NFT content linked to K-Beauty, K-POP products, and various other fields. The ‘LOTT Token’ will be used not only on the LOTT platform but also as a payment method within the connected metaverse ecosystem and is expected to be usable in external offline stores through future partnerships.

Beauty Bakery is conducting joint business with numerous domestic and international companies through partnerships to ensure the success of the ‘LOTT Project’ and to activate transactions of the ‘LOTT Token.’ In July, it acquired shares of the entertainment company Zenith CNM, securing a large amount of K-POP metaverse content. In October, to establish a foothold for entering the Japanese market, it signed a business partnership agreement with Netprice, a leading Japanese online shopping mall company. Recently, it also signed business agreements with the world-renowned Swiss luxury watch brand TITONI and Jim Thomson, famous for Thai silk.

A Softec Corporation official stated, “Inquiries about the private sale continue to come from investors who have confirmed the potential economic value of the ‘LOTT Token’ through the ‘LOTT Project’ website,” adding, “We are focusing our capabilities on close collaboration with Beauty Bakery to successfully complete the ‘LOTT Project.’”

Meanwhile, on the 8th, Beauty Bakery acquired Kesmai, a developer that integrates NFTs into pet games, to strengthen its blockchain platform business.