Name of Project
Soak Beauty - Mobile App & Payment Ecosystem
Application type
Partners - Cross-Border Fintech Integration
Proposal Overview
Soak Beauty is launching an English-speaking app that educates & allow customers to easily book beauty services in South Korea.
This includes building a Soak Ecosystem that allows regional crossfi integration & real-world use of cryptocurrencies to build social incentives & retail loyalty within our app.
We have already built the Soak Beauty mobile application prototype, active user base on various social media, and a community on Instagram of 21.4k followers.
Our Soak Beauty Ecosystem consists of real-world value and use in business across communities and countries. We will be bridging the gap between South Korean businesses and the foreigner community that don’t have access to their native banking systems to use as payment. We’ve conducted various interviews on previous clients to provide the best user experience for this marketplace.
Main Target - 2 million+ foreigners living in Korea who can’t use their native fiat bank credit cards (Major e-commerce giants such as Coupang & Naver do not accept non-Korean cards for payments).
- Soak Beauty App is a consumer marketplace platform to browse & book Korean beauty services with a payment ecosystem making it easy to access fiat and crypto currencies
- Soak Payment gateway to allow access to fiat, credit cards, centralized exchanges
- Cross-border fintech to access e-wallets for cryptocurrency users to convert digital tokens to KRW/KRT, etc.
We are asking for a $1 million dollar equity-free grant to complete the following:
Soak Beauty Mobile App
● Build real-use mobile app that solves problems in South Korea
Soak Payment Gateway
● Crossfi with fiat, credit cards, and access to e-wallets for payments
Soak Points
● Partnerships with local businesses to incentive users to generate consumer loyalty
We are a team of 3 - CEO, UX/UI Designer, and Growth Marketer with familiarity in the crypto space. We are confident this will change the game not only in Korea but for people all over the world as an example to access decentralized financial services + gain new wealth / financial freedom from traditional banks. We believe many users will use this not only in booking transactions but as a true wallet in the future - to book, pay, and transfer funds easily to use in the real world.
##Proposal Ask
$1 Million USD
We are asking for $200k for each section of our 5-phase program.
Metrics for Success
Our Milestones Phases:
- App Development & Testability - (200k)
- Fintech Integration & Usability - (200k)
- Blockchain Cross Border Finance - (200k)
- Soak Payment Ecosystem Development - (200k)
- Soak Points System Development - (200k)
Core Goals:
Adoption - Cross-border usage Soak Beauty App & fintech purchases that connect native fiat banks, credit cards, or crypto e-wallets. Real-life usage of blockchain with real businesses, customers, and loyalty programs.
Community- Creates a community of foreigners in Korea who haven’t been able to have access to their currencies, credit cards, or cryptocurrencies. Empowering them to also use cryptocurrency as a source of real value by connecting various e-wallets to our app.
Participation - Creates vital partnerships with small businesses to have a marketplace to promote services, gain more customers, and generate more revenue. Incentive programs to allow customers certain perks via using defi or Soak Points.
Education - Subtly educate the power of decentralized finance and benefits of using crypto wallets as a form of gaining financial freedom through practical daily uses on app.