Few technologies have created a buzz among consumers and beauty brands like non-fungible tokens (NFTs).
The digital artworks can be used to showcase wealth, invest money, pursue cultural interests as well as market product launches and support CSR campaigns in the metaverse.
L’Oréal, for example, filed 17 NFT and digital trademarks for some of its most popular beauty brands earlier this month.
Huda Beauty founder Huda Kattan, meanwhile, saw NFTs as an opportunity to engage directly with YouTube fans by boosting her message of female empowerment and sharing an educational video about the technology.
When Givenchy wanted to mark Pride month last year, the LVMH-owned brand tasked gallerist Amar Singh and the inclusive Rewind artist collective to create virtual art to be sold in support of Le MAG Jeunes LGBT+ association.
The collaboration sold out in seconds. Here, Singh explains to Cosmetics Business about the power of NFTs and how beauty can use the technology to support communities around the world.
Embrace the essence
"An amazing NFT is a digital artwork, or product, that can