Beauty tech rising with metaverse, 3D art and NFTs

As the global cosmetics products industry is anticipated to reach €766.6 billion ($805.61bn) by 2023, according to Orbis Research, beauty and personal care brands are entering a new era of online cosmetics to introduce digital applications and build consumer engagement.

Brands across the globe are dipping their toys into the latest advances in digital cosmetics and moving from digitalisation to virtualisation. From the metaverse and NFTs (non-fungible tokens) to Web 3, brands are delving into online life beyond the traditional platform-based model to reach a deeper level of engagement through immersing consumers in the brand’s vision and product portfolio.

3D beauty

In June 2022, L’Oréal entered the metaverse with cosmetics line NYX Professional Makeup introducing an avatar collection to showcase makeup creations. Partnering with The Sandbox metaverse and blockchain laboratory People of Crypto, the brand conceptualised a global partnership with 3D artists through which it is set to invite 3D beauty creators to join its community, increase aptitude in digital makeup and redefine beauty in the metaverse.

The metaverse is set to play a big part in the future of global luxury group LVMH, too, as it reportedly gears up to create a virtual shopping experience for Sephora, building on the beauty brand’s use of virtual try-ons using augmented reality.

YSL Beauty is the latest name to launch into Web 3 – the third generation of the World Wide Web – that seeks to offer more personalisation and choice. YSL has unveiled its token-gated page which it says will act as a hub for the brand’s journey along Web 3 where users who follow the brand on Instagram and Twitter can claim their YSL Beauty NFT.

.

Leave a Comment

Your email address will not be published.