L’Oréal’s cosmetics subsidiary NYX is partnering with The Sandbox metaverse and People of Crypto (POC), a blockchain lab looking to increase diversity in Web 3. The partnership will launch an avatar collection incorporating traits such as different color shades, ethnicities, sexual orientation, and gender identification, as well as different makeup looks.
The initiative is a celebration of Pride Month, although the collection attempts to represent various minorities. In total, 8,430 avatars will be minted and available for purchase in The Sandbox’s metaverse, which will also feature a special “Belonging Week” event looking to educate users on diversity, equity, and inclusion. NYX will donate all revenue to an LGBTQ+ organization.
Metaverses and the NFT space are perceived as less diverse than they could be. Projects such as this provide a space to welcome a range of identities and representations. L’Oreal launched an NFT campaign with similar intentions as a celebration of women. The NFT artists were women and the marketing around the campaign was centered around the gender disparity in the NFT industry.
Besides supporting an important cause, NYX’s project further demonstrates the extent to which avatars can represent reality. Enabling different skin tones and makeup looks expands the approximation of the digital and physical realm and how close users can get to their ideal avatar.
Cosmetics can be an important form of self expression and a channel to showcase uniqueness and diversity. For NYX, it seems like an ideal opportunity to join the metaverse. The initiative is in line with their branding, supports a social cause, and showcases a use for digital makeup.
Fashion brand Wrangler demonstrated uses for its name in the digital space by launching digital wearables in metaverse Decentraland, and Under Armor unveiled a digital sneaker as an in-game asset in three different metaverses.
In a report, Morgan Stanley estimated that the Luxury non-fungible token (NFT) and metaverse market could reach $56 billion in sales by 2030.
The number of fashion brands participating in Web 3 initiatives is increasing. Diesel’s OTB Group formed a new division to expand its NFT efforts and metaverse presence, Forever 21 and Estee Lauder participated in Decentraland’s fashion week, and Clinique used NFTs as rewards in a loyalty scheme.