THE WHAT? L’Oréal has committed to empowering female NFT creatives, having commissioned artists to create art inspired by the shades of red for the new L’Oréal Paris Reds of Worth by Colour Riche lipsticks.
THE DETAILS Artists Amber Vittoria, Arina BB, Hueman, Lili Tae, and Puks will create six pieces of art, with the partnership undertaken with global talent, entertainment and sports company UTA, under its digital assets practice.
The Reds of Worth NFTs were available via auction on the OpenSea marketplace, with the artists receiving 100 percent of primary sales.
With each NFT starting at a floor price of $1,500, fifty percent of up to one year of the secondary market sales will be donated to support Women of Worth, L’Oréal Paris’ signature philanthropic initiative.
THE WHY? Looking to address the gender imbalance in the NFT market, L’Oréal states it hopes to inspire change, balance, and equity for the future of females in cryptocurrency.
Maude Brunschwig, Senior Vice President of Marketing, L’Oréal Paris USA, says, “Through this program, we want to bring attention to the gender disparity in the NFT space and hope that we can shine a light on the women already working within the sector, while attracting more women artists and buyers.
“As a brand that is deeply committed to empowerment and inclusion, we are proud to build on our mission of supporting women and giving these artists a global platform to showcase their work.”