Beauty NFTs are joining the NFT hype as NARS Cosmetics becomes the latest beauty brand to launch its own collectibles.
NARS Cosmetics partnered with online marketplace Truesy for the sale of the NFTs, which are inspired by the beauty brand's popular "Orgasm" product line.
NARS Cosmetics' Beauty NFTs
NARS Cosmetics' beauty NFTs are examples of non-fungible tokens who each have their own unique value and characteristics.
The three beauty NFTs were created by three artists the beauty brand commissioned, according to Vogue. These artists are fashion designer Azéde Jean-Pierre, DJ and music producer Nina Kraviz, and collage and crystal artist Sara Shakeel.
NARS partnered with Truesy, which Vogue describes as "a 'boutique' NFT marketplace aimed at style-conscious consumers beyond the usual NFT crowd."
The three collectibles will each have different set prices and quantities issued. The artwork of collage and crystal artist Sara Shakeel is offered for free.
The beauty NFT collectible produced with the help of Azéde Jean-Pierre has a selling price of $50 and comes with limited-edition "Orgasm" products. Nina Kraviz's NFT will sell for $500 and include products whose combined worth is $500.
Related Article: NFT: How to Create and Sell Designs
Beauty NFTs: Other Beauty Brands Who Joined the NFT Hype
NARS Cosmetics joins other beauty brands who have tapped into the growing NFT hype.
Last month, e.l.f. Cosmetics joined the NFT market by releasing a total of nine NFTs that were sold on Bitski.
Givenchy Parfums is another beauty brand that released its own NFT. Givenchy managed to sell 1,952 copies of its Pride NFT. The funds raised will be used to support an LGBTQ+ non-profit advocacy organization called Le Mag Jeunes.
Beauty and Fashion Industries Tap Into NFT
Beauty NFTs are not the only NFT collectibles to come out of the beauty and fashion industries. Fashion brands have also tapped into the market to see where it can take them.
Last month, luxury fashion brand Dolce & Gabbana released its NFT collection called DGGenesi. According to an article by BeInCrypto, the NFT collection was inspired by the city of Venice.
Will Beauty NFTs be a Hit?
People probably would not put the words "beauty" and "NFT" in the same sentence back then. That does not seem to be the case any longer given the increasing number of Beauty NFTs. However, it will take time before the market can completely understand how all of it works.
According to the Vogue article, it is anticipated that it will take "another six to 18 months for both consumers and brands to have a better understanding of how to make use of this technology."
Still, there is room for learning, improvement, and experimentation to make beauty NFTs work. Brands will be motivated in particular by how "fashion and lifestyle communities embrace drop culture and appreciate getting exclusive access to merchandise, experiences and events."
This article is owned by Tech Times
Written by Isabella James