Stakeholder EngagementAnnouncedL'Oreal’s NYX Makeup Partners With The Sandbox For NFT-based Avatars To Celebrate Diversity
Milestone Date: June 1, 2022
Blockchain technology has created a massive impact on various industries, and the beauty industry is no exception. L'Oreal-owned NYX Makeup has joined The Sandbox Metaverse and People of Crypto to take its first step toward incorporating blockchain technology into the beauty industry with the goal of educating consumers on diversity, equity, and inclusion.
The partnership between NYX Makeup and The Sandbox involves launching a collection of 8,430 NFT-based avatars to celebrate Pride Month. The avatars will include various traits like skin colors, ethnicities, sexual orientation, gender identification, and makeup looks. The avatars can be purchased in The Sandbox Metaverse, which is a virtual gaming platform that enables users to create, play, and monetize games, as well as purchase virtual assets with cryptocurrencies.
NYX’s project exemplifies how avatars can represent reality by providing traits, like skin tone and makeup, for users to try for themselves since cosmetics are a popular way to show individuality and style. The move also signifies the growing popularity of blockchain technology and its potential to revolutionize the beauty industry.
By Elizabeth Morrison
Published:June 1, 2022
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