Major Beauty Brand NARS Joins NFT Craze
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The popular beauty brand NARS joins the growing list of brands and public personalities within the fashion and beauty industry to take advantage of the NFT hype.
Over the weekend NARS beauty launched its first ever series of NFTs. The digital collectibles auctioned off on Truesy, an online marketplace for non-fungible tokens (NFTs).
NARS based the NFT art series off of their well-known “Orgasm” product line. In doing so, the brand commissioned DJ and music producer Nina Kravis, multi-medium artist Sara Shakeel, and designer Azéde Jean-Pierre. The release of the “Orgasm”-inspired NFTs intentionally lined up with National Orgasm Day on July 31st.
NARS’ VP of global and digital strategy and social engagement said this wasn’t an opportunity to generate revenue, rather the goal of the NFT launch is “to create a really interesting, creative experience around a core and iconic product.”
The NFTs released for the NARS series reflect both the “Orgasm” line and the artist. The price for each differs widely. The first, from collage and crystal, multi-medium artist Sara Shakeel, is free. The free NFT drop creates the opportunity for wider access to NFTs by major artists and brands. It’s a video of a mouth with sparkling lips and a wave inside. NARS and Shakeel’s fan base can take advantage of the wide open NFT.
Fashion designer Jean-Pierre’s NFT listed for the accessible price of $50 and includes limited edition products from the “Orgasm” line. The most pricey is DJ Kraviz’s NFT which debuted for $500. Only three copies of the digital artwork were available and included a bundle of NARS products.
The NFT marketplace Truesy, is one which accepts credit card payment in an effort to make NFT access available to a wider market. In addition, this encourages those outside of crypto to feel more comfortable with the emerging space.
Beauty and Fashion Industry Continue to Merge with Crypto
NARS is only one of many major fashion and beauty brands to capitalize on the NFT boom this past year. Moreover, the involvement of such mainstream brands has the potential to create the new landscape of the metaverse of the future.
Another recognizable name in the same space, Dolce & Gabbana came out with NFT news last month. In July the iconic fashion brand launched their first ever NFT series. The series featured digital fashion inspired by the Italian city of Venice.
Aside from just NFT the fashion industry is also utilizing blockchain technology in other innovative ways. Karl Lagerfeld, prominent Chanel figure and fashion photographer, had his photographic legacy of over 12,000 images digitized and put onto a blockchain this past year.
Other brands in the industry now utilize distributed ledger technology to help stop counterfeiting.
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