Since their discovery in 1985, fullerenes have attracted considerable attention. Their unique carbon cage structure provides numerous opportunities for functionalization, giving this nanomaterial great potential for applications in the field of medicine. Analysis of the chemical, physical, and biological properties of fullerenes and their derivatives showed promising results. In this study, functionalized fullerene based nanomaterials were characterized using near infrared spectroscopy, and a novel method - Aquaphotomics. These nanomaterials were then used for engineering a new skin cream formula for their application in cosmetics and medicine. In this paper, results of nanocream effects on the skin (using near infrared spectroscopy and aquaphotomics), and existing results of biocompatibility and cytotoxicity of fullerene base nanomaterials, are presented.