- L’Oreal introduces NFTs and DAO.
- The company made a partnership with Ready Player Me TO bring hair cosmetics to thr metaverse.
- L’Oréal recently invested $4 million in Digital Village.
The NYX Professional Makeup artists of the cosmetics company L’Oreal have introduced GORJS, a decentralized autonomous organization (DAO), as an online beauty “incubator.” On the Ethereum blockchain, the “FKWME Pass” is a 1,000 NFT drop.
According to the firm, the incubator’s goal is to set the bar for beauty in the metaverse and to be a leader in cultural dialogues about “values of diversity, inclusion, and accessibility.”
Unveiled in June, the DAO is set to go live very soon. There can only be 100 million tokens in total. On February 1st, the FKWME NFT passes will sell for 0.19 ETH, or around $300, at this writing.
Yann Joffredo, Global Brand President at NYX, stated that GORJS would promote 3D innovators and assist them in navigating the Web3 industry. In the age of avatars and the metaverse, the project also explores what makeup signifies.
Digital cosmetics, according to Joffredo, can go beyond physics and redefine makeup. By connecting with Web3 beauty influencers (digital marketing) on their websites and social media platforms, you can have extraterrestrial glass skin and elemental lashes that can flare into flames.
In 2022, NYX released a voxel avatar collection of NFTs. It highlighted some gender identities, cultures, and races in the NFTs.
The company has partnered with Ready Player Me to bring hair and cosmetics to the metaverse. In more than 4,000 virtual worlds, Ready Player Me users will be able to sport L’Oréal’s style thanks to the agreement.
L’Oréal recently invested $4 million in Digital Village, a company that builds NFT marketplaces that offer the metaverse as a service. Its startup is similar to the Web3 startup in many ways.
L’Oréal looks to be taking the lead in the metaverse for beauty and cosmetics businesses. Although they won’t know for sure until after the GORJS DAO and NFT drop, given the brand’s track record and aspirations in the market, we believe they will be successful,