Between the 7th to the 10th of February 2022, L’Oréal filed 17 individual patents relating to NFTs and the metaverse. These patents encompass some of the company’s most popular brands, including Redken, Maybelline, Kiehl’s, and others. So far, the company is yet to release any public announcements regarding its plans for the digital realm.
According to the World Intellectual Property Organization, most of the 17 applications are quite similar. Firstly, it includes an interactive website for VR games, online games, and other activities. The applications specifically mention a metaverse allowing users to browse, accumulate, buy, sell, and trade virtual cosmetics. Besides, cosmetics, makeup preparations and non-medicated skincare preparations can be expected to be on sale for virtual avatars.
There will also be retail and online store services in relation to their products, for the virtual avatars. Lastly, there was also a classification for creating an online community featuring digital assets, non-fungible tokens, metaverses and online worlds. The application will take approximately 3 months to examine, starting from the filing date.
L’Oréal is no stranger to the NFT scene. The company’s Reds of Worth collection is available on OpenSea, with 14.5 ETH traded to date. There are 5 1/1 NFTs, each created by leading female, digitally-native artists inspired by the L’Oreal Paris Colour Riche collection. More importantly, the collection focuses on female empowerment.
The 5 artists will take 100% of the primary sales, while a portion of the secondary sales will support Women of Worth. This is an initiative that recognizes every day women making extraordinary differences in their communities.