While NFTs have exploded in popularity in the past year, most of the artists benefitting from the boom are men. In fact, according to a recent report,* women make up only 5% of all NFT sales. Furthermore, women account for just 16% of the NFT art market. Now, L’Oréal Paris USA is on a mission to elevate women making waves in the NFT industry, and hopes to inspire change, balance, and equity for the future of females in cryptocurrency.
For over fifty years since declaring its iconic tagline, ‘Because You’re Worth It,’ L’Oréal Paris has supported the individual beauty and intrinsic worth of every woman. From its inclusive product ranges to a diverse roster of spokeswomen and the causes it stands for, empowerment of women is threaded into the brand’s mission and its very DNA.
In light of this, L’Oréal Paris USA has commissioned five female artists – Amber Vittoria, Arina BB, Hueman, Lili Tae, and Puks – to create NFT art inspired by the shades of red – six in total – within the new L’Oréal Paris Reds of Worth by Colour Riche range of lipsticks. The program is being executed in partnership with leading global talent, entertainment and sports company UTA, under its digital assets practice.
“Through this program, we want to bring attention to the gender disparity in the NFT space and hope that we can shine a light on the women already working within the sector, while attracting more women artists and buyers,” notes Maude Brunschwig, Senior Vice President of Marketing, L’Oréal Paris USA. “As a brand that is deeply committed to empowerment and inclusion, we are proud to build on our mission of supporting women and giving these artists a global platform to showcase their work.”
The Reds of Worth NFTs will be available via auction on the OpenSea marketplace from December 13 – 15, 2021 with artists retaining 100% of primary sales. Each NFT will start at a floor price of $1,500. Fifty percent of up to one year of the secondary market sales will be donated to support Women of Worth, L’Oréal Paris’ signature philanthropic initiative that recognizes women making extraordinary differences in their communities. The artists will also be in conversation with OpenSea, UTA and L’Oreal during a Twitter Spaces on December 14, 2021 at 1:00PM EST to bring further awareness to the auction and to share more about their works, inspiration from the program, and what they’ve learned as female artists in the NFT space.
“I am so excited and honored to be partnering with L’Oréal Paris for its NFT program. My piece ‘Radical & Free’ is about women owning our power and is inspired by scientific research that proves humans emit light in extremely small quantities due to biochemical reactions,” notes Hueman. “The human body literally glows; we are much more than our gender. There are so many layers beneath the surface, and they are complex, glimmering, and pulsing with our own inner light.”
“What I’ve learnt after joining the NFT community is that my creations matter. Putting myself in a bigger world could be intimidating but I’ve also been encouraged and lifted by so many fellow artists and supporters from all over the world,” remarks Lili Taie. “This project is an opportunity to inspire confidence through my artwork. I want to communicate how confidence contributes to one’s own self value and how the color of red can be the spark to help achieve this.”
