To "inspire change, balance, and equity for the future of females in cryptocurrency," L'Oréal Paris USA is spotlighting women in crypto and NFTs as part of its newest project. According to ArtTactic, women make up only 5% of all NFT sales and women account for just 16% of the NFT art market—and the beauty brand is on a mission to change that.
L'Oréal Paris USA commissioned five female artists (Amber Vittoria, Arina BB, Hueman, Lili Tae and Puks) to create non-fungible token art inspired by the six shades of the new L'Oréal Paris Reds of Worth by Colour Riche lipstick range.
The Reds of Worth NFTs will soon be available for auction on the OpenSea marketplace, starting at $1,500 and the artists will retain 100% of the primary sales.
Female Empowerment NFTs
L'Oréal Paris USA is Highlighting Women in Crypto & NFTs
Trend Themes
1. Female NFT Creators - Highlighting and promoting female artists in the NFT space could lead to a rise in sales and recognition, as well as an increase in diversity.
2. Gender Diversity in Crypto - Addressing the gender gap in the cryptocurrency industry could lead to a more equitable and diverse market, with opportunities for new products and services catering to underrepresented groups.
3. Brands in Nfts - More brands may begin to explore the potential of NFTs to create unique marketing campaigns that resonate with younger, tech-savvy audiences.
Industry Implications
1. Cosmetics - Cosmetic companies could leverage NFTs to showcase their products in new, immersive ways and collaborate with artists to create limited-edition digital collectibles.
2. Art - NFTs could provide a new revenue stream for artists, particularly those who have been historically underrepresented in traditional art markets.
3. Crypto Exchanges - Crypto exchanges could attract more female users by addressing the gender gap in their user base and promoting female artists in the space through partnerships and unique offerings.