As wearable NFTs and virtual cosmetic trends gain momentum in the metaverse, AI and AR beauty tech companies like Perfect Corp. and PulpoAR are venturing into this space.
These companies have been developing metaverse and NFT capabilities as brands seek innovative ways to leverage these technologies. With NFTs expanding beyond images and videos to virtual cosmetic looks, the question now arises about how and where these trends can be applied.
According to Rayan Godoi, Co-founder of AR beauty tech company PulpoAR, brands’ involvement in NFTs and the metaverse is primarily about marketing and creating buzz. He anticipates that the metaverse will become one of the main sales channels for beauty through virtual looks.
Perfect Corp. announced its metaverse plans at CES and later introduced wearable NFTs at South by Southwest, unveiling four makeup looks on the NFT platform OpenSea. Buyers on OpenSea gain access to these looks through Perfect Corp.’s YouCam app, where they can be applied.
Perfect Corp. also launched a service to digitize wearable NFTs for brands in both fashion and beauty, utilizing common NFT trading and wallet platforms like OpenSea.
According to CEO Alice Chang, wearable NFT looks will provide beauty and fashion brands with new revenue opportunities and offer users an interactive and personalized element previously unavailable in the NFT space.
PulpoAR, known for its virtual try-on app, is developing the MetaBeauty app, acting as a hub for brands and creators to design digital makeup looks and mint them into NFTs.
The app will allow users to set limits on the usage of a look, creating scarcity similar to physical products. The challenge for platforms currently lies in translating makeup looks across different platforms, with efforts to enable cross-platform usage of NFTs still in progress.
Godoi envisions MetaBeauty evolving to allow brands to sell digital makeup products that can be used across various social platforms. He is in early discussions with major social platforms to make this vision a reality. Looking ahead, he predicts NFTs will be integrated into smart glasses within five years, enabling people to “wear” different looks while interacting on various platforms.
As for the future of beauty in the metaverse, Godoi questions whether people will strive to replicate real-world appearances or opt for more unique expressions. He believes that beauty in the metaverse will be fundamentally different, with individuals expressing themselves in diverse ways.
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