Cosmose AI and Near Partner to Create Cryptocurrency Payment System: What You Need to Know

According to reports, Cosmose AI has announced that it is collaborating with Near, one of the blockchain protocols competing with Ethereum. The two are establishing a payment system that allows users to shop in cryptocurrency at low transaction costs, saving money for both buyers and sellers. As part of the partnership, the Near Foundation, a non-profit organization that supports the development of the protocol ecosystem, has made strategic investments in Cosmose. The amount of this round of financing has not been publicly disclosed, increasing the company’s valuation from $100 million in the 2020 A-round financing to $500 million.

Near Foundation completes strategic investment in Cosmose

As digital currencies continue their ascent in popularity and mainstream use, more and more companies are exploring the benefits of incorporating crypto payments into their businesses. One such forward-thinking alliance has recently been forged between Cosmose AI and Near, a blockchain protocol rivaling the likes of Ethereum. Together, the companies have created a payment system that allows users to shop in cryptocurrency at low transaction costs, saving money for both buyers and sellers. In this article, we’ll take a closer look at this exciting new partnership and what it means for the future of digital payments.

The Partnership

Cosmose AI, an AI-based marketing platform used by luxury brands such as L’Oréal, Richemont, and Cartier, announced their partnership with Near in late 2020. The two companies are collaborating to create a payment system that will allow users to shop in cryptocurrency, with low transaction fees that will save both buyers and sellers money. Along with the partnership, the Near Foundation, which supports the development of the Near protocol ecosystem, has made strategic investments in Cosmose. Although the amount of money invested has not been disclosed, it marks a significant increase in Cosmose’s valuation from $100 million in the 2020 A-round financing to $500 million.

The Benefits

The partnership between Cosmose AI and Near offers several benefits for both consumers and merchants. First and foremost, the payment system will make it easier for users to purchase items with cryptocurrency. Due to the lower transaction fees, buyers will save money on every purchase, while sellers will benefit from the increased sales volume. The system is also highly secure, as it utilizes the blockchain technology behind Near to protect users’ financial information and keep their transactions private.
For merchants, the partnership comes with an additional benefit: access to the Cosmose AI marketing platform. Merchants that accept cryptocurrency payments via the Cosmose platform will receive valuable customer insights and purchasing trends through the use of AI-powered algorithms. These insights will allow brands to further optimize their marketing strategies and offer more personalized experiences to their customers.

The Future of Digital Payments

With the rise of popular cryptocurrencies like Bitcoin and Ethereum, it’s evident that digital payments are here to stay. As more companies begin investing in and accepting cryptocurrency payments, digital transactions will only continue to grow. The collaboration between Cosmose AI and Near marks another important milestone in the widespread adoption of digital currencies. By providing a secure and efficient payment system for both merchants and consumers, the partnership is paving the way for more practical and widespread use of cryptocurrency in everyday commerce.

Conclusion

The partnership between Cosmose AI and Near represents a promising step toward a more accessible and user-friendly era of digital payments. With the low transaction fees, enhanced security and privacy, and access to invaluable AI-powered marketing insights, the payment system offers a variety of benefits for merchants and consumers alike. As the use of cryptocurrency continues to expand and mature, partnerships like this will become more common, and digital payments will become an even more integral part of everyday commerce.

FAQs

1. What is Cosmose AI, and what services does it offer?
Cosmose AI is an AI-powered marketing platform used by luxury brands such as L’Oréal, Richemont, and Cartier. It offers a wide range of marketing solutions, including customer insights, personalized messaging, and in-store analytics.
2. What is Near, and how does it differ from other blockchain protocols?
Near is a blockchain protocol specifically designed for building and scaling decentralized applications. It differs from other blockchain protocols such as Ethereum in that it utilizes a proof-of-stake consensus mechanism and focuses on user-friendly experiences.
3. What implications could this partnership have for the future of commerce?
The partnership between Cosmose AI and Near offers a glimpse into the potential of cryptocurrency as a payment method for everyday transactions. As more companies invest in and accept digital payments, the practicality and convenience of cryptocurrency will continue to increase, making it an increasingly desirable option for both merchants and consumers.