,type=downsize)
NFTs caught everyone’s attention and exploded in popularity. While most people are still trying to understand what they are, in simple words, they stand for non-fungible tokens and are pieces of digital content linked to cryptocurrencies. The beauty of the NFTs is that they take digital works of art and transform them into one-of-a-kind pieces.
In the past year, most of the artists benefitting from the boom are men, and a recent report revealed that women make up only 5% of all NFT sales, and they account for just 16% of the NFT art market.
To change these stats and elevate women making waves in the NFT industry, L’Oréal Paris USA is on a mission to inspire change, balance, and equity for the future of females in cryptocurrency.
For over fifty years since declaring its iconic tagline, ‘Because You’re Worth It,’ L’Oréal Paris has supported every woman’s beauty and intrinsic worth. From its inclusive product ranges to a diverse roster of spokeswomen and the causes it stands for, empowerment of women is threaded into the brand‘s mission and its very DNA.
L‘Oréal Paris USA has commissioned female artists, Amber Vittoria, Arina BB, Hueman, Lili Tae, and Puks, to create NFT art inspired by the new L’Oréal Paris Reds of Worth by Colour Riche range of lipsticks.
“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,” remarks 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.”
“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,” notes Maude Brunschwig, Senior Vice President of Marketing, L‘Oréal Paris USA. “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.”
The Reds of Worth NFTs were auctioned on the OpenSea marketplace from December 13 – 15, 2021, with artists retaining 100% of primary sales. Each NFT started 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 that recognizes women making extraordinary differences in their communities.
“I am so excited and honored to be partnering with L‘Oréal Paris for its NFT program. My piece ’Radical & Free‘ is about women owning our power and is inspired by scientific research that proves humans emit light in extremely small quantities due to biochemical reactions,” notes Hueman. “The human body literally glows; we are much more than our gender. There are so many layers beneath the surface, and they are complex, glimmering, and pulsing with our own inner light.”
Reds of Worth by Colour Riche is an array of the most elegant hues of red suitable for all skin tones. Featuring a rich and creamy formula that is non-drying and smudge-proof, each lipstick is formulated beyond color technology and enriched with blue pigments, Argan Oil, and Vitamin E for ultra-creamy pigmentation.
Available in six classic shades, as of November 2021, the collection is available at drugstores and mass-market retailers nationwide.