L’Oréal Paris is jumping into the crypto art world of NFTs on Monday, using a philanthropic initiative to foray into the space.
L’Oréal Paris commissioned five female artists — Amber Vittoria, Arina BB, Hueman, Lili Tae and Puks — to create NFT art. The pieces were to take inspiration from the red shades within the new L’Oréal Paris Reds of Worth by Colour Riche range of lipstick, launched in November. The auction will take place on NFT auction site OpenSea from December 13-16. L’Oréal Paris wanted to draw attention to the lack of female representation in the NFT space with its approach to NFTs. Female artists account for less than 16% of the NFT art market and only 5% of NFT sales, according to a November report from art market analysis firm ArtTactic.
“We feel it’s important to identify spaces in which we can make an impact — however small or large — and lead with our values,” said Maude Brunschwig, svp of marketing for L’Oreal Paris. “We don’t think [only] of NFTs instead of other [male-dominated] sectors; it is just one white space opportunity we saw where L’Oreal Paris could help elevate deserving and worthy women, while also offering new technologies inspired by beauty and worth to the consumer.”
Artists will retain 100% of primary sales. Meanwhile 50% of the secondary market sales, which can be thought of as royalties, will be donated to L’Oréal’s philanthropic initiative Women of Worth for one year. Therefore, an artist can continue to gain recognition and income once their work has seen its first transaction. Each NFT will start at a floor price of $1,500. Coinciding with the end of the NFT auction is a one-hour broadcast event on NBC of the Women of Worth award ceremony.
“The versatility of NFTs, in terms of the form they can take, opens the door to greater accessibility for all kinds of creators,” said Cat Turner, chief creative officer and co-founder of creative agency Cult, which launched its own charitable NFT art campaign in December. “Nars’ recent foray into NFTs, where its third release was an interpretation of its famous product line, Orgasm, is a great example of this — it was created by DJ and producer Nina Kravitz. As NFTs increasingly move into the mainstream, the opportunity for more women to both create and invest in them will continue to be a positive evolution.”
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NFT art design by Amber Vittoria
The past six months have produced a handful of beauty-led NFTs other than from Nars. Clinique, Ciaté London, E.l.f. Cosmetics, Givenchy Parfum and Australian skin-care brand Sunny Skin have all come out with them, approaching them in varying ways. In the case of Clinique, it tied its NFT campaign to its loyalty program members. Loyalty members entered to win by sharing “stories of optimism” on Instagram, Tiktok, and Twitter for the chance to win free products for 10 years, along with one of three editions of an NFT artwork. Ciaté London and E.l.f. Cosmetics both sold NFTs directly tied to products, like Ciaté London’s Christine Quinn collection. Givenchy Parfum also took a charitable approach, partnering with London gallery owner Amar Singh and the Rewind artist collective to create and sell an NFT. Proceeds benefitted LGBTQ youth non-profit Le MAG Jeunes. Sunny Skin called its NFT series “Australian Angels,” based on native Australian animals like the koala. Owners of Aussie Angel NFTs will get access to special features associated with the Sunny Skin brand, though additional details were not available.
Brunschwig said L’Oreal Paris would use its social channels, owned platforms and influencer network to spread the word of the news, ultimately driving to the auction. The artists will also be in conversation with OpenSea, United Talent Agency, and L’Oreal during a Twitter Spaces on December 14. The intention is to bring further awareness to the auction and to share more about the works, the inspiration for the program and experience as female artists in the NFT space.
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“What I’ve learned after joining the NFT community is that my creations matter. Putting myself in a bigger world could be intimidating, but I’ve also been encouraged and lifted by so many fellow artists and supporters from all over the world,” said Lili Taie. “This project is an opportunity to inspire confidence through my artwork. I want to communicate how confidence contributes to one’s self-value and how the color of red can be the spark to help achieve this.”
Brunschwig added, “Our ultimate goal is that young and/or up-and-coming female artists see the amazing work that women are doing in the space — work that might not otherwise get the attention it deserves — and are empowered to act on their ambitions… In terms of what is next in digital [for L’Oréal Paris], we’ve always listened to the consumer and take our cues from her. So if she’s wearing it, playing with it or spending time on it, it’s interesting to be there to reach her where she is.”
