No surprises here: L’Oréal is back in Web3 headlines.
L’Oréal’s cosmetic brand NYX Professional Makeup just announced the launch of an online beauty “incubator” in the form of a Decentralized Autonomous Organization (DAO) named GORJS (pronounced “gorgeous“). It’s also dropping 1,000 NFTs on the Ethereum blockchain called the “FKWME Pass.”
The company that’s been bullish on Web3 for some time now said the incubator’s aim is to set the standard for beauty in the metaverse, as well as be a leader in cultural conversations about the “values of diversity, inclusivity, and accessibility.”
The DAO, first announced in June, is expected to launch very soon. The DAO’s members will use GORJS governance tokens to vote on projects and proposals. The number of tokens is capped at 100 million. The FKWME NFT passes are set to drop on February 1st, for the price of 0.19 ETH or about $300 at time of writing.
Yann Joffredo, NYX’s Global Brand President, said that GORJS would highlight 3D creators and help pave roads for them through the Web3 ecosystem. The project also aims to explore what makeup means in the metaverse and in the age of avatars.
Joffredo believes digital cosmetics can go above and beyond the laws of physics and be radically different than regular makeup. He mentioned “extraterrestrial glass skins” and “morphing elemental lashes” that can “flare into lifelike flames.” In other words, the limits are endless.
With the move, the brand looks to move beyond its Web2 beauty influencer content marketing on platforms like Twitter, TikTok, and YouTube, and reach a new Web3 audience.
L’Oréal’s Is Bullish on Web3
For anyone paying attention to the brand, news that L’Oréal is making more Web3 moves should come as no surprise. At Rarity Sniper, we’ve written several articles about the beauty and makeup brand recently. Here are some of our most recent stories.
First, in 2022, NYX dropped a voxel avatar NFT collection in The Sandbox metaverse. The in-game NFTs consisted of distinct features highlighting dozens of gender identities, cultures, and ethnicities.
Next, about two months ago, L’Oréal partnered with Ready Player Me, an avatar creation company to bring hair and makeup to the metaverse. Through the partnership, Ready Player Me users will be able to rock L’Oréal’s look in over 4,000 virtual worlds.
Lastly, just a few days ago, L’Oréal participated in a $4 million funding round for metaverse-as-a-service provider and NFT marketplace builder Digital Village. The brand said it shares many of the same values as the Web3 startup, such as accessibility, interoperability, and sustainability.
Beauty and makeup brands in the metaverse are becoming increasingly important, and for now, L’Oréal appears to be taking the lead. We’ll have to wait to see if its GORJS DAO and NFT drop are successful, but considering the brand’s experience and ambition in the space, we think there’s a good bet they will be.