If you’re an art lover you’ll love the new trend of beauty brands going NFT. These stores are not only accessible to the general public but also allow people to view works by different artists. With this trend, more brands are looking for new ways to reach consumers and delve into the art world. Here are some ways that beauty brands are going NFT. Weigh your options before making the control.
How beauty brands are making their NFTs accessible
The beauty industry has long been concerned with environmental issues and implementing NFTs into their packaging has opened up a new revenue stream. The auth link smart tags on beauty products are an example of this. These tags allow customers to access information about sustainable packaging product use tutorials, and even recycling options. It’s an effective way for beauty brands to engage with a younger and more tech-savvy audience and strengthen their brand heritage.
For example, last fall the Clinique Almost Lipstick in Black Honey went viral and out of stock everywhere. To help out the forward-thinking fan Clinique released a limited edition digital version of the product. The new NFT has since sold out in stores and Clinique is hoping to make its products more accessible to a broader subset of beauty consumers. Similarly, NARS cosmetics has launched three limited-edition NFTs based on its most popular products.
With NFTs, the beauty industry is joining the digital revolution. While premium fashion and art brands have long been at the forefront of the conversation major beauty brands have recently joined the virtual bandwagon. NFTs are unique digital assets documented within the blockchain and can consist of audio, video, and images. NFTs can also be collected on dedicated platforms. With the NFTs, technology beauty brands are able to tap into their existing customer base while building a loyal following.
Beuty brands transfer NFT
The luxury industry is embracing the art market with Givenchy Beauty’s move into NFTs. Its parent company LVMH has an art foundation and sponsors various exhibitions and artists. As people continue their quest for art, brand owners need to take advantage of this new trend. They should establish virtual art galleries for their products. Brands like Nars and E.l.f. are also exploring this option for their next NFT campaign.
While NFTs are still in their infancy brands have realized the value of these products to connect with customers. Consumers are increasingly passionate about NFTs, and they are the next way for super fans to engage with their favorite brands. However, some questions remain, such as how do brands decide if NFTs are right for them? To answer this question, here are some insights. NFTs mimic products and other items with intrinsic IP value, like sports trading cards.