NFTs (non-fungible tokens) are a new and emerging technology that are used to represent unique digital files, such as art, audio, video, in-game characters, even animated representations of products, and are fast becoming an important part of the digital landscape. Because NFTs can’t be copied (many are collectibles), they are a tool that brands are using to create one-of-a-kind, authentic, tokenized content. Here, CEW Beauty News presents some of the newest beauty NFTs.
IGK
IGK launched an online scavenger hunt at the end of December to tease the introduction of a new category for the hair care brand: permanent, at-home hair dye. Clues were littered on IGK’s social channels and online as part of its strategy to launch the new colors. Having discovered a clue, people were directed to a microsite to learn about the new color range and unlock special rewards. 25 winners received a one-of-a-kind IGK NFT as well an IGK at-home coloring kit in the shade of their choice, a set of IGK care products, and a style consultation with an IGK advisor. The launch heralds IGK’s initiative to exhibit more art and, in the process, underline the connection between hair color and NFTs in that both worlds are artistic, fun and unexpected.
Vacation
Vacation, a newly-launched sunscreen brand, leveraged the power of community at December’s Art Basel Miami by helping promote two parties together with its sister project, Poolsuite (an app and website featuring internet radio), drawing thousands of its attendees to its events. Poolsuite sold 2,500 NFTs ahead of a party at the Standard Hotel, raising significant capital in the process. Purchase of the NFTs brought access to the Poolsuite’s members club, giving early access to Vacation product launches and events.
L’Oréal Paris USA
In December, L’Oréal Paris USA created one-of-a-kind digital art by commissioning five female artists – Amber Vittoria, Arina BB, Hueman, Lili Tae, and Puks – to create NFT art inspired by the six shades of red within the L’Oréal’s Paris Reds of Worth by Colour Riche lipstick collection. The Reds of Worth NFTs were available via auction in mid-December, with each NFT starting at a price of $1,500. Fifty percent of up to one year of the secondary market sales were donated to support Women of Worth, L’Oréal Paris’ philanthropic initiative that recognizes women making extraordinary differences in their communities. Reds of Worth by Colour Riche is suitable for all skin tones. Each lipstick is formulated with “beyond color technology” and enriched with blue pigments. Through the Reds of Worth NFTs, L’Oréal Paris USA said it aims to bring attention to the gender disparity in the NFT space.
Iris Apfel x Shutterfly
Shutterfly created its first-ever limited edition NFT Holiday CryptoCard Collection in partnership with Iris Apfel. All proceeds benefited the Boys & Girls Club of America, a youth development non-profit and committed youth empowerment leader. There were three pieces in the collection, with each individual NFT designed to unveil a hitherto unseen holiday moment from Iris’ life.
Clinique
In October, Clinique became the first Estée Lauder brand to launch NFTs, empowering its consumers to enter the metaverse by offering a limited-edition digital representation of its bestselling Black Honey Almost Lipstick. Clinique created three editions of its first NFT, called MetaOptimist. However, instead of selling them, the brand gave its Smart Rewards members the chance to receive the NFT, and an assortment of products, once a year over the next decade, by asking them to share their stories of optimism and their hopes for the future. Smart Rewards members could enter the contest on one of three social media platforms: Instagram, TikTok, and Twitter. This initiative is part of Clinique’s drive to prioritize engaging consumer experiences in the metaverse.
NARS
To mark National Orgasm Day in July, NARS commissioned three artists, including DJ and music producer Nina Kravitz, collage and crystal artist Sara Shakeel, and multimedia artist Azéde Jean-Pierre, to each create a digital collectable inspired by the brand’s cult Orgasm collection. The NFT collectibles each had different prices and quantities issued, and were sold with limited edition Orgasm products. The brand partnered with online marketplace Truesy for the sale of the NFTs. NARS reportedly plans to incorporate the digital artwork into key initiatives in 2022.
Givenchy Beauty
To mark Pride Month last June, Givenchy Beauty launched its first NFT in support of LGBTQIA+ causes. This also marked LVMH’s first foray into the world of NFTs. Givenchy Parfums teamed up with London gallerist Amar Singh and the Rewind Collective to offer a digital work in a limited edition of 1,952 copies in aid of the Le MAG Jeunes, a non-profit advocacy organization that provides support to the LGBTQIA+ community. Titled “Pride,” the work by Rewind Collective consisted of a series of animated portraits based on photographs that the artists digitally reworked in the colors of the rainbow flag. Each portrait was designed to represent diversity, self-affirmation, and the fight for equal rights. Givenchy Beauty sold 1,952 copies of its Pride NFT. The brand is committed to recognize the LGBTQIA+ community and further the inclusivity movement.
E.l.f. Beauty
E.l.f. entered the crypto arena last June with the launch of its limited edition #CryptoCosmetics Collection, inviting consumers to “own Crypto Cosmetics and a piece of the iconic E.l.f. legacy.” Three of E.l.f.’s “holy grail” products, including Poreless Putty Primer, 16HR Camo Concealer, and Ride or Die Lip Balm were dipped in digital gold and went on sale on the crypto platform Bitski. Nine “Ne.l.f.Ts” were available in total, three of each E.l.f. digital product, and priced at the same retail price as the corresponding actual product. The Ne.l.f.Ts were bought with a credit card and feature in the purchaser’s digital wallet. Golden Poreless Putty Primer Dime is a skin perfecting primer for all skin types. The 1600 Hour Golden Camo Concealer is a full-coverage liquid concealer. Golden Ride or Die Lip Balm are hydrating tinted lip balms with a sheer wash of color. The #CryptoCosmetics Collection is the first in what E.l.f. plans will be a series of Crypto Cosmetics. The brand is partnering with a variety of influencers, especially those that reside in the NFT crypto space.