The metaverse is gradually becoming a statement for many beauty brands, with several companies such as TRESemmé and NYX Professional Makeup already making their entries into the virtual world. As the global metaverse market is predicted to grow 43.3% by 2028, with an estimated value of $828.95 trillion, beauty is sure to see several new breakthroughs in the Web3 space shortly. In collaboration with Ready Player Me, a cross-game avatar platform, L'Oréal is the latest trade name to explore the metaverse, hoping to "promote authenticity, inclusivity, and creativity for self-expression" across the online space.
The partnership takes place across two of the L'Oréal Group's brands―Maybelline New York and L'Oréal Professionnel providing a total of ten hair and makeup looks that can be used across the Ready Player Me platform on more than 4,000 apps worldwide.
"We believe that the future of beauty will be physical, digital, and virtual," says Asmita Dubey, Chief Digital and Marketing Officer of the L'Oréal Group. "Our brands are creating new, immersive, and virtual experiences using virtual spaces, in-game customized experiences, in-virtual world advertising, and virtual ambassadors and influencers. We are very excited to lay the foundations for the future of beauty on Web3 and the metaverse."
The avatar customizations include five trend-led hairstyles and five makeup looks designed in partnership with multidisciplinary artist Yvan Rochette. When using virtual styles, game players can customize the looks to best suit their own personal vibe, helping L'Oréal to reach consumers through new and innovative products and services.
"Maybelline New York's makeup looks and L'Oréal Professionnel's hairstyles are an amazing addition to the Ready Player Me platform," says Timmu Tõke, CEO and co-founder of Ready Player Me. "We couldn't be more excited to partner with L'Oréal and bring their avatar customization options to our avatar creator and all apps and games compatible with Ready Player Me, including Spatial, HiberWorld, and VRChat."
According to Camille Kroely, Chief Metaverse and Web3 Officer at the L'Oréal Group, the approach for the collaboration was not to duplicate realistic looks but instead to inspire creativity and bring consumers tools they may not be able to explore in real life. With heavy inspiration across the metaverse being taken from fashion and outfits, Kroely also notes that the collaboration opens up an opportunity to explore a side of the metaverse through beauty that she believes is yet to be tapped.
"This partnership allows us to better understand the appetite for virtual beauty amongst consumers and elevate beauty experiences. With more than three billion global gamers, our approach is to explore new beauty codes, while making the experience more accessible and inclusive. Through creativity, technology and L'Oréal's beauty expertise, we aim to offer a space for self-expression that reflects the diversity of our world beyond "physical," Kroely adds.
The offerings from the duo come shortly after L'Oréal announced a partnership with Meta and HEC Paris to launch a metaverse startup accelerator that takes place across a six-month program. The initiative will support at least five brands to hone in on their metaverse-related skills, including 3D production, AR, VR, mixed reality, and avatar creation.
Working alongside Ready Player Me is not the first time Maybelline New York has taken part in the metaverse, with their recent Singles Day program Rhythm City enabling users to find makeup inspiration through virtual reality. Rhythm City’s web space saw the makeup brand partner with South Korean band Itzy to become "champions of self-love, individuality, and self-expression."
Ready Player Me recently raised $56 million in series B funding, helping the startup to collaborate with a range of brands in new and innovative ways. As L'Oréal takes a "test-and-learn" approach into the metaverse, starting with Maybelline New York and L'Oréal Professionnel, consumers can expect to see more virtual offerings from a cross section of brands represented by the L'Oréal Group in the near future.
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