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The brand who minted an NFT to fight HIV
What The Block #02
Welcome back to What The Block, a newsletter packed with insights & intelligence about the web3, blockchain, NFTs and the metaverse —written by me, David Klingbeil
When we think about all the industries that could be disrupted by the web3 the beauty & cosmetics industry is not the first that comes to mind.
Yet beauty brands were among the first businesses to experience mass adoption of social media back in the 2010s.
Today, a handful of major beauty brands are actively leveraging web3 and NFTs as a powerful marketing tool for interactive engagement with consumers.
In this episode of What The Block, I'd like to tell you more about a web3 project that is quite unexpected and exciting: the MAC Viva Glam NFT.
MAC Cosmetics, a leading global beauty brand renowned for its trendsetting heritage released its first NFT project Yesterday in partnership with the Keith Haring Foundation.
The makeup brand has released 3 NFTs illustrated with 3D versions of the late artist's work and ranging from $25 to $1,000, all of which are limited editions of 25 to 5,000 pieces.
Let's dive deeper into the release and analyze why brands should pay attention to this important partnership. These 3 reasons can help you understand why it might become very successful:
1) Art that is gorgeous and very collectible
If you are a fashion lover and makeup enthusiast, you should definitely pay attention to this. The partnership between MAC Cosmetics and the Keith Haring foundation has led to the creation of a very specific collection.
They've given birth to a collection of 3 NFTs mixing the universes of Keith Haring art and MAC makeup. Their collection is simple and at the same time, totally gorgeous.
The fact that the brand has partnered with one of the most iconic artists of the 20th century might give a high collectible value to these NFTs and might make the collection very successful.
2) The power of purpose
This new NFT by MAC Cosmetics is made to make money for a good cause.
MAC and the Keith Haring Foundation have joined the metaverse to maximize their impact on youth living with or affected by HIV/AIDS with three collectible and charitable NFTs.
This embodies the purpose-led marketing strategy that has been at the heart of MAC since its creation in 1985.
3) An easy experience for NFT newcomers
Last, this NFT collection is an interesting case because of the shopping experience put in place by MAC.
Instead of going through the classic "mint" process where buyers need to set-up a wallet and buy crypto-currencies to get an NFT, MAC cosmetics ask buyers to make a donation in credit card and receive the NFT later.
This will be helpful to get people who have never bought any NFT and try crypto collectibles for the first time.
Just a few hours after being released, the collection has already seduced more than 300 buyers (see live transactions on Polyscan as the project is on the Polygon blockchain) for a total of sales of more than $40k already.
Which means there are still time if you’d like to buy one here (note: this is not investment advice, NFTs are risky for real).
To follow the evolution of this collection in live, I’ve set-up a blockchain analytic dashboard
I hope you’ve enjoyed this episode and that it made you think… What the block?!
PS: feel free to hit reply to leave a comment, I read and answer every message
*We’re Gonna Make It, a popular way to cheer in Web3 ;)
That’s all for this week’s episode of What The Block!
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