The beauty and fashion industries have long been known for their creative collaborations, such as when the Metropolitan Museum of Art released a custom-designed Estée Lauder eyeshadow palette for its 150th birthday. Now, skincare and makeup brands are entering Web3 with the same aspirational energy, hoping to reach Web3-native consumers, create meaningful experiences, and even clean up their supply chain. Yann Joffredo, Global Brand President at NYX Professional Makeup, said that the brand has always championed inclusivity and sees Web3 as the next evolution of this mission.
In early 2023, NYX launched GORJS, the world’s first beauty-focused decentralized autonomous organization (DAO) to spotlight creators building beauty experiences within the Web3 ecosystem. Digital spaces can also provide physical safety amid a politically polarized physical world, as seen in NYX’s partnership with inclusive avatar company People Of Crypto (POC) and The Sandbox for a week-long Pride Month celebration.
Ulta Beauty has also been experimenting with digital activations on Roblox since 2022, launching the Ultaverse and partnering with Urban Decay to throw a virtual party. Ulta Beauty was also one of the first beauty brands to announce its participation in the upcoming Metaverse Beauty Week.
Blockchain offers potential solutions for one of the most consistent challenges faced by the beauty industry: greenwashing. Luxury fashion giant LMVH launched a blockchain to help prove the authenticity of Louis Vuitton bags and Parfums Christian Dior, while French luxury skincare company Clarins allows customers to trace their products’ manufacturing journeys on chain.
Coveteur partnered with hair care company Wella Professionals to launch The Wella Generator, a gamified digital sweepstakes hosted on the Ethereum blockchain. “It was important for us to create a program that was seamless for existing and new Web3 users,” said Leya Kaufman, head of brand, publisher and senior vice president of sales at media company Coveteur.
As digital identity becomes an increasingly important factor in our lives and personalities, blockchain is becoming an increasingly popular trend for beauty brands. “This is a process and it will take time,” said Kaufman. “We will need to cultivate and engage audiences in this new arena while simultaneously maintaining our core consumer base.”