3 Arguments in Favour of Beauty on the Blockchain

If you are an enthusiast of blockchain, read the 3 arguments in favor of beauty on the Blockchain

In the fashion and beauty industries, creative partnerships are everything. Look no further than the Metropolitan Museum of Art in New York City. Over the course of its history, the museum has collaborated with several well-known beauty brands. For example, for the occasion of the 150th anniversary of the museum's founding, it released a custom-designed Estée Lauder eyeshadow palette.

A decent joint effort in any industry pushes limits, moving clients to try different things with groundbreaking thoughts and types of self-articulation. Therefore, it is not surprising that cosmetics and skincare companies are entering web3 and blockchain with the same aspirational drive as the beauty industry has always served.

Through new types of advanced masterfulness and state-of-the-art mechanical development, the present driving excellence organizations desire to arrive at Web3-local shoppers, make significant encounters, and maybe even tidy up their production network.

It Helps Brands Reach New Customers:

According to Yann Joffredo, Global Brand President at NYX Professional Makeup, the cosmetics company owned by L'Oréal has always pushed for inclusivity through partnerships with independent content creators, bloggers, and makeup artists. Joffredo considers Web3 to be the following advancement of this mission, with the additional advantage of interfacing with new crowds.

According to Joffredo, "It is important to advocate for this same representation in Web3 as the brand continues to evolve." Additionally, we comprehended the metaverse's unexplored beauty territory."

NYX launched GORJS, the first beauty-focused decentralized autonomous organization (DAO) in the world, at the beginning of 2023 to highlight creators who are developing beauty experiences within the Web3 ecosystem.

It Gives People Meaningful Ways to Express Themselves:

Joffredo likewise said that straightforwardness and self-articulation in the metaverse is a characteristic expansion of NYX Proficient Cosmetics' image values, adding that computerized spaces give excellent fans exceptional roads to articulate their thoughts and cooperate with items.

In a world that is increasingly polarized politically, physical safety can also be provided by digital spaces. A week-long Pride Month celebration was launched last year by NYX, inclusive avatar company People of Crypto (POC), and The Sandbox, a user-generated virtual environment. At the event, gender non-conforming NFT avatars wore makeup that was pixelated, or more accurately, "voxelized," and the colors were those of the Progress Pride flag.

It Could Address Trust Issues:

Last but not least, one of the most persistent problems the beauty industry faces could be solved by blockchain technology: greenwashing. Amid growing market pressure to be natural, cruelty-free, and eco-friendly, clean beauty brands have come under more scrutiny in recent years.

Customers have almost no way to keep track of where their favorite brands get their ingredients. However, there are currently a lot of new use cases for blockchain in the supply chain. Customers can track the chain of production of their products using the blockchain-based platform developed by the French luxury skincare company Clarins. People can find out where the ingredients came from and even how the product was made and packaged by scanning a QR code on each package.

Another way blockchain can assist with supporting trust issues is by getting rid of fake items, which is a developing issue in the realm of "super fakes." Extravagance design monster LMVH sent off a blockchain to assist with demonstrating the realness of Louis Vuitton packs and Parfums Christian Dior.