Does fashion house Yves Saint Laurent develop products for Web3 enthusiasts? According to its trademark registration, the French company would be interested in non-fungible tokens (NFTs) and metaverses. Let’s take stock of his ambitions.
Yves Saint Laurent dives into Web3
If the European economic situation raises fears of a recession, the luxury sector is not experiencing the crisis. While the LVMH group’s share has just hit a new high, the Yves Saint Laurent studio has just filed a trademark to start its Web3 adventure.
According to an official document, the subsidiary of the international group Kering is interested in non-fungible tokens (NFTs) and their use in virtual worlds such as metaverses with a view to increasing the commitment of its customers through new communication channels.
The most in-depth topic from business concerns the production of computer programs, the implementation of which will allow the creation of:
- virtual items such as cosmetics, perfumes and skin care products for use in the metaverse » ;
- media files that include videos in NFT format and whose content will be related to the brand’s business sector;
- downloadable software dedicated to creation, production and modification of digital skins and makeup » ;
- and a mobile application that allows the purchase and sale of cosmetic and wellness products.
For the company, its presence in the metaverse must go beyond a simple virtual showcase of its products. Yves Saint Laurent has the ambition to create retail stores that allow the trade of its virtual products.
Moreover, its former subsidiary named Yves Saint Laurent Beautécurrently owned by the L’Oréal group, it made its first experience in Web3 in June 2022 by unveiling a collection of NFTs thanks to a partnership with the French company Arianee.
👉 To discover the NFT collection created by the Yves Saint Laurent Beauté company
Alyra, training to integrate the blockchain ecosystem ⛓️
More and more companies in Web3?
In 2022, luxury brands have multiplied their shares in Web3 : While Swiss watchmaker Bretling and Italian fashion house Gucci have begun accepting certain cryptocurrencies for the purchase of their products, jeweler Tiffany & Co. has launched its first blockchain-based auction platform.
If companies have a growing interest in Web3, it is mainly for commercial reasons. Using the tools available in this ecosystem, brands can increase their influence through communication operations carried out in the metaverses. To conquer the field of luxury, Gucci had designed in 2022 a virtual land accessible to all for two weeks on the metaverse The Sandbox.
The Gucci Vault Land, a virtual land developed by Gucci in The Sandbox metaverse
Operations like this allow a company to generate interest in its brand and federate a community of passionate people to serve as potential economic breeding ground. As soon as a new product related to the Web3 ecosystem is revealed by the company, prospects from this community can turn into customers, allowing him to diversify his sources of income by offering new experiences to his customers.
To take the case of Tiffany & Co., one of their strategies was to market a new product to an audience interested in blockchain technology. For what, the company has navigated the universe of non-fungible tokens selling charms with the image of the CryptoPunks NFT collection.
👉 Discover the images of Tiffany & Co. jewels made on the CryptoPunk theme
Cryptoast launches its first collection of NFTs
NFTs associated with a collectible paper diary 🔥
Source : United States Patent and Trademark OfficeGucci
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