- L’Oreal Paris may be able to corner women-focused NFTs
- Their approach favors scarcity and long term stability
- Being a brand new player is inherently a little risky
After the initial wave, more and more brands are stepping into the NFT market (with Adidas destroying everyone), and L’Oreal Paris may have a solid approach to carve their niche. Though women may not make up the majority of the holders for crypto, in general, they’re still a market of 50% of the planet.
By stepping in and setting the style of women-centric NFTs, L’Oreal Paris may be able to cement themselves as one of the legacy assets in the future to come.
One choice that L’Oreal Paris made is tying their assets to Ethereum which offers some of the best all-around stability you can find but comes with its own drawbacks. Thankfully, the implicit design of L’Oreal Paris’ assets reduces these flaws inherent in the Ethereum backing by not needing to scale or change hands often.
This part is a bit tricky as L’Oreal Paris can be seen as both a benefit and a drawback, depending on how L’Oreal Paris sees its entry into the NFT Market. From the surface, it might seem like having an international company like L’Oreal Paris backing you is a good thing.
If nothing else, L’Oreal Paris can support their NFTs through a wide variety of measures from marketing to collecting– potentially even their own assets… after enough exchanges. On top of that, L’Oreal Paris also has experience with working on scale as any international company needs to.
Of course, we all know how outsiders tend to waffle a bit under the pressure of crypto markets– even if the holding parties have some experience with open markets. That said, L’Oreal Paris transitioned to social media influencer marketing quicker than most, suggesting the company may be agile enough to maneuver in the digital landscape.
Taking a cue from the natural artificial scarcity of NFTs to start with, L’Oreal Paris takes that approach a step further by only commissioning 5 different NFTs to be minted. That said, the “female-centric” mention comes in full force as not only are these NFTs focused on a certain shade of L’Oreal Paris lipstick, they’re also all made by women.
Whether you like romantic fantasy or abstract art or digital art, women produced all of the assets by Amber Vittoria, Arina BB, Hueman, Lili Tae, and Puks. That said, it’s worth noting that there’s no official integration of L’Oreal Paris NFTs with any of the current blockchain software, so it is more of a luxury asset than anything else.
It’s difficult to tell how well L’Oreal Paris NFTs will perform, but they are focused on a potentially large market in women who are likely to increase as holders in the future. While their assets don’t have any unique functions, they are focused on women in a way that most NFTs aren’t, walking some of that talk.
Assuming L’Oreal Paris decides to stay in the game for the long haul (admittedly, a pretty big assumption), there’s a decent chance their NFTs will only appreciate in value. When you consider the built-in brand value with a company willing to explore online markets well before most other old-school businesses, the asset has legs– whether or not it walks.