The LookRev design and marketing tool helps consumers co-design products and find the right product-market-fit. It assists the development of high-quality creative products.

A product line starts with a specific type of product. It provides many choices of colors, designs, textiles and ideas, and grows into many product options.

Consumers use the virtual outfit apps and catalogs to select the products they like, virtually outfit them with their selfies, further custom-design the product option as they see fit, and purchase the custom product they truly like.

LookRev uses blockchain technology to register ownership of creative assets, contributions and payment information, encoding the information using smart contracts. It encodes each product line as a branch, and tokenized ownership of product lines as leaves on that branch.

Tokenized ownership

Each genesis branch is designated for a product line, which may grow as many sub-branches as there are custom product options derived from each product line.

Each product line has its own unique virtual outfit catalog ID. Each product option has its own unique product ID and QR code watermark.

When a consumer purchases a custom product that has a unique product ID, the sale is credited to its product line, and a percentage of the sales revenue is allocated to the community pool for that creative product line.

Each LOOKNFT token has a branch ID. Like a leaf on a tree branch, a LOOKNFT token is associated with a branch ID on the LookRev tree, which represents its product line.

Only a limited set of LOOKNFTs are minted for each branch.

LOOKNFT is implemented as a ERC721 token, and is used a unit of account and a record of people’s tokenized ownership of creative product lines. The owners hold proof of rights to the product lines by holding related LOOKNFT non-fungible tokens.

The profits received from a product line are regularly distributed to its NFT holders using a smart contract with blockchain technology. LOOKNFT token owners and people who contribute to the product line share the rewards distribution from the community rewards pool.

When people purchase the LOOKNFT token, the tokenized ownership of the product line is recorded and secured on the blockchain, where it remains safe, verifiable and immutable.

Tree

Each branch on the LookRev tree has levels. When all the leaves on a level are purchased, the next LOOKNFT purchase is recorded at a lower level. The amount of leaves available on each level increases with the increase of the level.

As the branch grows more leaves, more levels are added to the branch. The addition of a new level automatically increases the value of the genesis branch, which increases the value of all leaves purchased on that genesis branch.

Harvest-time is when buyer can purchase products of that product line. LooksCoin owners can also use LooksCoin to purchase the products.

Distribution

The net profits received from a product line are distributed to LOOKNFT token owners on a regular basis using smart contracts through the blockchain. Credits are directly deposited to the LOOKNFT token recipient’s address, which is the LOOKNFT token owner’s wallet address. The LOOKNFT token owner can redeem the credits using the LookRevLOOKNFT smart contract.

A LOOKNFT token with a higher level will receive a higher percentage of distribution than a LOOKNFT token with a lower level. The equation will be published on the LookRev channel. The profit distribution is done through the blockchain, using a smart contract.

Tokens

LOOKNFT tokens are ERC721 tokens, which are exchangeable on the NFT market. When a LOOKNFT token owner transfers the ERC721 token to another user, the tokenized ownership of the product line is transferred to that user. The new recipient will receive the profit distribution with the LOOKNFT token at the harvest-time of that branch.

LooksCoin is an ERC20 token, exchangeable with other cryptocurrencies in the market. A LOOKNFT token owner may hold LOOKNFT ERC721 tokens and LooksCoin ERC20 tokens at the same wallet address, but only LOOKNFT tokens record the tokenized ownership of the product line. When a LOOKNFT token owner transfers the LOOKNFT token to another wallet address, the ownership of that LOOKNFT token is transferred to that new wallet address.

LooksCoin is a functional utility token. It can be used to purchase goods and services on LookRev marketplace, vote for branch decisions, exchange with other ERC20 tokens and more.

LooksCoin holders can swap $LOOK into LOOKNFT, or list their LOOKNFT for sell in exchange of $LOOK or BNB at LooksCoin marketplace.