The beauty industry has now set its sights on the metaverse with the upcoming Metaverse Beauty Week. The upcoming event is slated to take place from June 12-16, and it is set to occur on immersive social platforms such as Decentraland, Roblox, and Spatial.
Cult LDN, a creative agency, is spearheading the event and has enlisted the participation of a variety of retailers, along with prominent and specialized beauty brands.
Metaverse Beauty Week: An Overview
The Metaverse Beauty Week event’s organizers are taking learnings from the recently concluded Metaverse Fashion Week to improve upon them. The gamification approach will continue to be a central aspect, and there will be more traditional beauty activation elements like sampling and gifting.
Experience beauty like never before. 💄
— Decentraland (@decentraland) April 20, 2023
Cult LDN has said that interoperability will be the main organizing principle of MBW. The issue of interoperability is a critical factor in this context because it is the key to unlocking the potential for these beauty brand experiences to reach a larger scale.
The event’s focus is on offering experiences rather than literal replications of real-life shops.
The Potential for Metaverse Spaces
Brand marketers’ ad spending in metaverse spaces, particularly in Decentraland’s first MVFW in 2022, was a significant driver for Metaverse Beauty Week.
While the number of attendees for this year’s MVFW was considerably lower than the inaugural event in 2022, it still offered valuable opportunities for brand marketing and data collection from a younger demographic engaging in digital spaces.
In 2022, the event attracted a total of 108,000 attendees, resulting in the purchase of over 7,000 wearables during the five-day event, which amounted to approximately $77,000 in total sales.
The beauty industry is more well-suited to fast-paced iteration and testing, compared to fashion, and Metaverse Beauty Week may be a more natural fit for its brand targets.
That iterative culture is just ingrained into the nature of the beauty industry, said Bridey Lipscombe, CEO of Cult LDN and co-founder of Metaverse Beauty Week. Its innovation cycle attracts more progressive marketers into the industry.
The Future of Metaverse Spaces and Beauty
Metaverse Beauty Week will offer wearable NFTs for in-game avatars, including hair and beauty features and emotes. MBW’s organizers are still testing different event formats as involved technology rapidly evolves.
The plan is to integrate IRL global brand events into MBW events across the participating platforms. For example, how can you have sampled and tried the product out? We are exploring ways to translate the sensory elements of beauty into a digital environment while working within the constraints of the medium.
The upcoming Metaverse Beauty Week is expected to provide beauty brands and retailers with another platform to showcase their products and engage with customers.
By leveraging the gaming and virtual world’s immersive experience, Metaverse Beauty Week can potentially create a more engaging and exciting brand experience for customers.
With two months to go before the event, the organizers are still testing different event formats to provide customers with the best experience possible.
What is the Metaverse Beauty Week?
Metaverse Beauty Week is a consumer goods event that focuses on beauty products and services in immersive social platforms such as Decentraland, Roblox, and Spatial. It is the first-ever event of its kind and is set to run from June 12-16, 2023.
What are the potential benefits for beauty brands participating in Metaverse Beauty Week?
The event will provide beauty brands and retailers with another platform to showcase their products and engage with customers.
Who is organizing Metaverse Beauty Week?
The event is being organized by the creative agency Cult LDN, which has included the participation of various retailers and big-name and niche beauty brands.
What can attendees expect from Metaverse Beauty Week?
Attendees can expect a range of exciting activities, including contests with physical and digital prizes, wearable NFTs for in-game avatars, and traditional beauty activation elements like sampling and gifting.
The event’s organizers promise to prioritize experiences over literal replications of real-life shops.
What is the main organizing principle for Metaverse Beauty Week?
The main organizing principle for Metaverse Beauty Week is interoperability, which allows multiple platforms to work together and allow brands and users access to the same event.
How is Metaverse Beauty Week different from Metaverse Fashion Week?
While both events take place on immersive social platforms, Metaverse Beauty Week will focus on beauty products and services rather than fashion. Additionally, the organizers promise to take learnings from Metaverse Fashion Week and improve upon them for Metaverse Beauty Week.
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