Estée Lauder Enters Metaverse with Fashion Week NFTs

Credit: Estée Lauder

Another giant in the beauty industry is signing up for the metaverse. Estée Lauder, the official and exclusive beauty sponsor of Metaverse Fashion Week in Decentraland, will launch a 10,000 NFT collection to commemorate the event. The NFTs will be modeled after Estée Lauder’s product Advanced Night Repair, with avatars using the NFT to gain a “glowing, radiant look.”

Jon Roman, Estée Lauder’s senior vice president of digital consumer marketing and online, said that the company’s goal isn’t to bring new customers into the metaverse. Instead, it will try to attract existing metaverse denizens to try out the product.

Roman added that the ultimate goal would be to link “the metaverse to the physical world” and physical products, but achieving that will happen “step-by-step.” For Roman, the metaverse and physical world will exist as part of a “mixed reality,” and the challenge for the company is how to take advantage of that dynamic.

The 10,000 Advanced Night Repair-inspired NFTs will be available complimentary for users who visit the Estée Lauder set-up during Metaverse Fashion week. The event runs from March 24th to the 28th and may be one of the most significant Decentraland events of all time.

Beauty & Fashion Companies Entering the Metaverse Rapidly

Aside from Estée Lauder, several other beauty and fashion companies have entered the metaverse recently. These companies include Rihanna’s Fenty Beauty, L’Oreal, Victoria’s Secret, and Tommy Hilfiger. Tommy Hilfiger will participate in the same event as Estée Lauder, showcasing its Spring 2022 collections during Metaverse Fashion Week.

The metaverse is no stranger to big events, with big-name recording artists throwing concerts in the virtual space. But considering that this is the first Metaverse Fashion Week, the stage comes with expectations and top companies.

One of the draws of the metaverse is its virtual environment, not requiring people to be in close physical contact with one another and still enjoy festivities. Although the hubbub surrounding COVID-19 has died down in recent months, it still may be on some people’s minds. Metaverses provide the perfect counter for this as there is no need for a vaccine shot, mouth covers, or social distancing.

Aside from the health benefits, Fashion Week allows companies to showcase clothes, beauty products, and more — to benefit people in both a virtual setting and the physical world. Those people who claim a Tommy Hilfiger outfit, for instance, can redeem the item off-chain.

The Week is one of the most hyped metaverse events in recent memory and likely to be a jumping-off point in the metaverse for many brands.