Beyond NFTs: Beauty pioneers' plans for Web3

By Julia Wray | Published: 1-Aug-2022

VivaTech is a leading tech conference dedicated to innovation and start-ups in the beauty industry’s heartland of Paris, France. And some big names on the cosmetics and fragrance scene were in attendance

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If there is one industry that moves faster than beauty, with its forever-switching hues, textures and application ‘hacks’, it is tech.

So it stands to reason that the movers and shakers in our sector are not only adopting the latest methods of connecting with consumers, but adapting them in a way that is uniquely ‘beauty’.

The term Web3.0 was first coined by computer scientist Gavin Wood, one of the founders of the decentralised blockchain Ethereum, way back in 2014 and was quickly shortened by many to Web3.

Gaining traction since 2021 among cryptocurrency enthusiasts, it represents a version of the web where services are not hosted by a single company, but by everyone.

As a concept, it fits snugly with the more community-centric approach beauty players have been taking in recent years, encompassing crowdfunding, consumer-led product/brand development and the establishment of digital communities to generate content.

This year’s Viva Technology (or VivaTech) expo, held in Paris, France, from 15-18 June, brought together exhibitors and speakers from the likes of Apple, Linkedin, Snap Inc and Meta – and boasted an appearance from none other than the French President Emmanuel Macron. It also included three major players in beauty and beauty tech: L’Oréal Group, LVMH and Perfect Corp, and Cosmetics Business decided to do a deep dive into each company’s showcase at VivaTech 2022.

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