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Beauty brands are creating their space in the Metaverse

ConsumerGeniuses

ConsumerGeniuses

After the luxury fashion brands like Gucci, Balenciaga, Etro, and Dolce & Gabbana, beauty brands are embracing the metaverse and Web3 space. Brands like Dior, Gucci, Clinique, Givenchy Parfums, Charlotte Tilbury, Nars and Guerlain are pivoting their avatars, digital stores, games, and experiences in the virtual worlds. In 2022, L’Oréal filed 17 trademarks in the metaverse and Estée Lauder partnered with Decentraland’s Metaverse Fashion Week. Alex Bob, a beauty futurist remarked that there are limitless opportunities for brands to showcase their products and deliver their message. Although translating beauty products into the metaverse is not as easy as creating a digital twin of other products, brands can create digital products that tell the larger story about the product and brand itself. For instance, Box worked with Estée Lauder to build an NFT based on the company’s Advanced Night Repair product, which was not just a digital replica of the product’s packaging but it acted as a filter that coated customer’s avatars with a glowing effect. Jordan Robinson, MA + Group’s director of metaverse further added that brands should focus on developing their own digital storefronts. Another potential step that can be taken by brands is linking loyalty schemes with NFTs. In 2021, Clinique did that by giving winners of the contest a molecule-shaped NFT based on its Moisture Surge moisturiser and Black Honey Lipstick products. The token owners were also given an assortment of physical products every year for a decade. This initiative helped Clinique increase its search traffic by 60% with a 20% rise in social engagement.

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