Estee Lauder’s beauty brand M·A·C Cosmetics have entered the meta-universe to launch its NFT collection. The entire purchase price of this collection will be donated M·A·C Viva Glam Fund to support young people impacted by HIV and Aids.
The beauty brand M·A·C Cosmetics from Estee Lauder has partnered with the Foundation of world-renowned artist Keith Haring to launch their debut NFT collection. Importantly this is the first cosmetics brand to enter the space in a completely charitable fashion.
The collection will be available from 10 April to 1 June on NFT marketplace Opensea, with prices ranging from $25 to $1,000. M·A·C will donate the entire purchase price from primary sales of the Viva Glam x Keith Haring NFT collection to the M·A·C Viva Glam Fund to support young people impacted by HIV and Aids.
“This is exciting in so many ways. First, it is M·A·C’s first ever dab into the metaverse and the world of NFTs and we are thrilled to anchor it to giving back to a cause so close to the heart and soul of the brand,” said Aïda Moudachirou-Rebois, Global Chief Marketing Officer, M·A·C Cosmetics. “Additionally, we are honored that the Keith Haring Foundation agreed to join forces with us to carry forward Haring’s mission of using art to drive positive change for those most in need of support and are proud that his legacy lives on through VIVA GLAM.”
M·A·C (Make-up Art Cosmetics), a leading brand of professional cosmetics, is part of The Estée Lauder Companies Inc. Since its creation in Toronto, Canada, over 30 years ago, the brand’s popularity has grown through a tradition of word-of-mouth endorsement from makeup artists, models, photographers and journalists around the world. During Double 11(Chinese Shopping Carnival) on the Chinese e-commerce platform Tmall, M·A·C Beauty ranked No. 8 in the makeup category in terms of sales. In its flagship store on the Chinese e-commerce platform Taobao, its best-selling products is M·A·C Powder Kiss Lipstick with monthly sales of over 30,000 units.
It is worth noting that M·A·C’s parent company Estee Lauder Group also launched its NFT products on March 34, 2022, Beijing Time.
Estee Lauder’s NFT was inspired by its iconic product Advanced Night Repair. Users will then be able to enter a brown bottle of Advanced Night Repair to receive a wearable NFT that provides a “glowing, radiant look” to their avatars. The NFT is free and was designed by virtual creator Alex Box. Estee Lauder said the Advanced Night Repair NFT is aimed at attracting potential customers in the virtual world.
In addition to major international brands, Chinese local beauty brands have also launched NFT.
CHAILEEDO has found on the Chinese trademark website entering the words “cosmetic meta-universe” and “beauty meta-universe”, it shows that 13 trademarks are applied for, and the application time is after November 2021. The applicants include Guangzhou Xi Yang Yang Biotechnology Co., Ltd, the parent company of the skincare brand HANFY, and Shanghai Liangdia Data Technology Co. Some beauty companies applied for trademarks related to beauty brands, such as YATSEN E-commerce applied for “Perfect Diary Meta-Universe” and other related trademarks. The service provider of Shiseido/Marumi, Yuanlong Yato, recently said in the investor interactive platform that the company is applying for registration of several trademarks related to Meta-Universe.
Chinese NFT from cosmetics brands generally sells physical objects mainly through the e-commerce platform and virtual idol connection marketing. Their NFT digital collection is only gifts with a limited number. This move is to give customers the illusion that with original price can be “buy one get two free”.
During last year’s Double Eleven(Chinese Shopping Carnival), CHANDO collaborated with virtual human AYAYI to launch a skincare NFT digital collection becoming the first Chinese beauty brand to co-create an online virtual digital product with an e-commerce platform. It is limited to 100 units without paying a price beyond the physical product.
“Such NFT cosmetics can be said to kill two birds with one stone. It increased the value of the purchase for consumers and increased marketing gimmick for the merchants” Industry insiders noted.
However, senior industry insiders also warned that beauty and the meta-universe will meet a little later than other industries. If there is no sustained action, beauty companies to enter the meta-universe is considered as “gimmick” for wide range. If entering the meta-universe brings negative impact, it is “more loss than gain” for beauty brands. Beauty companies still need to be cautious.
It is worth mentioning that, as a current buzzword, “meta-universe” has been written into this year’s government work report or industrial planning by more and more provinces and cities including Shanghai, Wuhan, Hefei and so on. With the promotion of government departments, the meta-universe may usher in faster development and its connection with the beauty industry may be achieved more quickly.
