ESTÉE Lauder is the exclusive brand partner of Decentraland’s Metaverse Fashion Week and plans to unveil its first non-fungible token (NFT) during the event.
The NFT is inspired by its product, Advanced Night Repair.
The brand has plans to give away up to 10,000 NFTs from March 24-27.
Users’ avatars in the metaverse will be able to go inside the product’s brown apothecary bottle to receive the wearable NFT, giving them a “glowing, radiant look”.
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The NFTs are designed by virtual creator Alex Box.
Stéphane de La Faverie, group president of the Estée Lauder, said this “marks a pivotal point for Estée Lauder in how we reach and engage new and existing customers in the metaverse.”
Jon Roman, senior vice president of global consumer marketing at Estée Lauder added:
“I don’t think we want to just create something that we have to promote on our own, or drive people to the metaverse.
“We really want to operate within the metaverse environment to introduce our brand to consumers that are in the metaverse already.”
The first virtual fashion week will host some of the world’s biggest fashion houses as they present their new collections between virtual shows and after-parties.
L’Oréal Paris, Clinique, Givenchy Beauty and Gucci are among the beauty brands that have already entered the metaverse.
Last year, Estée Lauder’s subsidiary company, Clinique, introduced its first-ever NFT.
While in February 2022, L’Oreal filed several trademarks for its subsidiary brands to offer NFTs.
