Newlife.ai announced that it has chosen the Telos Blockchain Network to deploy its smart contracts, bringing with it more than 70,000 visits and more than 1.1 million monthly transactions.
The Newlife.ai platform is affiliated with fashion retailers like Farfetch and SSENSE to provide AI-enhanced experiences to explore fashion, design, and aesthetics trends. Its community is made up of students of fashion and arts, contemporary artists, curators of galleries, publishers, models, and influencers reaching over 44 million followers across various social networks.
Telos Architect and White Paper author, Douglas Horn, said:
“We are thrilled to welcome Newlife.ai to Telos. This is a gorgeous app with a captivating UI that’s extremely engaging. Beyond that, it’s a meta-modern ledger for cultural producers catering to contemporary artists and fashion designers through its rewarding visual experience. Newlife.ai started. . .without a connection to blockchain, and using the Telos interface improvements, we expect to keep the UI free of confusing blockchain friction points so that the users can focus on their creative and intellectual property, not on learning blockchain.”
Terms Of The Deal Between Telos Blockchain And Newlife.ai
The terms of the deal include modern business practices that rely on decentralized governance and smart contracts. This strategic partnership will concentrate on establishing a co-branded blockchain product which will not issue any token or ICO, but instead will leverage the Telos platform’s native cryptocurrency (TLOS). This will be used as a cross-border medium of exchange, making it easier for users, brands and content creators to trade content and ideas.
Vector Newman, CEO of Newlife.ai, said:
“We chose Telos because it is a high-performance blockchain that empowers users in this new global economy through high-speed, fee-less transactions, and the most advanced blockchain governance features in existence. Telos is the first blockchain to extend its platform-level governance engine for use by any application deployed on the network, and this lets us keep our users in control of their experience. . .Because the TLOS token was launched without an ICO and is already listed on exchanges, it presents a better method of exchange than creating a new blockchain asset specifically for Newlife.ai use.”
Suvi Rinkinen, Telos Foundation CEO, said:
“We aim to offer a more sustainable alternative to the ICO model where the crypto-space invested over 10 billion dollars [from 2017-2018] into startups which have yet to provide a return. We will incorporate key values shared by both the Telos Foundation and Newlife.ai, including empowering creators globally, providing data dignity by compensating users for their data, decentralized governance, and sustainability through low energy consumption.”