The MAC brand was an American icon, attracting a new demographic to the beauty industry. With its focus on giving back and artistry it resonated with people from all walks of life and appealed to a whole new demographic. They celebrated the beauty industry while having fun. This innovative brand ignited a spark of inspiration across the country and reshaped the beauty industry as a whole with the help of a new consumer base.
Mac Cosmetics’ First NFT Links With HIV/Aids Aware
MAC Cosmetics is getting into the world of NFTs and donates 100% of the proceeds from limited-edition lipsticks to organizations fighting against HIV and AIDS. MAC has partnered with the Keith Haring Foundation and is offering a limited-edition collection of NFTs with artwork by Haring. The lipsticks are available for purchase from April 10th through 2022. As part of the initiative, MAC will donate 100% of the proceeds from the primary sales to the MAC Viva Glam Fund and 2.5% of secondary sales to the Keith Haring Foundation.
The new collection will be available from 10 April through 1 June on the NFT marketplace Open sea. Prices range start from $25 to $1,000. The purchase price goes towards the MAC Viva Glam Fund which supports young people living with HIV. Secondary sales will also benefit the Keith Haring Foundation. NFTs, or non-fungible tokens are digital assets that are authenticated by the blockchain. Despite the rapid growth in popularity of NFTs the brand’s approach to donating to these organizations remains rooted in brand values and community engagement.
MAC has also partnered with the Keith Haring Foundation for their first NFT collection. The partnership will help to raise awareness for HIV/AIDS among youth. The collection will also support other non-profits that fight against the epidemic. Further, secondary sales of the NFTs will contribute to the Keith Haring Foundation. And, Mac will be the first beauty brand to partner with a renowned artist to create a collaboration with a non-profit organization.
How Mac Cosmetic and cosmetics industry making NFT?
The rapid expansion of digital consumership has opened up new frontiers including blockchain technology and cryptocurrency. These technologies allow for the processing of product ownership and transactions. Non-fungible tokens (NFTs) represent a unique digital asset that can be traded on cryptocurrency marketplaces. How does this relate to the cosmetics industry? Here are some examples of how NFTs are being used by cosmetics brands.
MAC Cosmetics is the latest company to join the nascent NFT arena. The brand has joined forces with the Keith Haring Foundation to create a special Viva Glam lipstick collection. The line will feature three pop art-inspired lipsticks priced at $25 each. The limited-edition collection will be limited to 250 pieces. The most expensive lipstick which features Keith Haring’s art will retail for $1,000.
MAC Cosmetics has also announced a new NFT collection based on the work of late artist Keith Haring. The collection will launch on 10 April in time for National Youth AIDS Awareness Day. MAC’s Viva Glam lipstick collection will feature three animations of Haring’s iconic work. MAC will donate 100% of the primary sale price to the Viva Glam fund. MAC also announced that the brand would not accept cryptocurrency payments during the sale, and a percentage of secondary sales will go to the Keith Haring Foundation.