eta recently announced a collaboration with HEC Paris and L'Oréal. The partnership aims to launch a startup accelerator program to boost creativity in the Metaverse.

Many companies, brands, and individuals embrace Web3 as an innovative wave. This wave has increased adoption via different applications and virtual opportunities.

L'Oréal intends to use the program to help its DMI and brands

Applications for the program will be accepted beginning November 20. The selection process will include participation from Meta, L'Oréal, HEC members, and other investors and entrepreneurs. Those who are chosen will be mentored and given access to specialists and investors.

The company’s chief digital and marketing officer, Asmita Dubey, reacted to the program's new plans. According to Dubey, the program brings together and provides the necessary creativity to young individuals who represent the future.

Increased Interest in Web3 and the Metaverse

Many brand names in the same market as L'Oréal have launched Web3 projects. Lancôme, YSL Beauty, Mugler, Nyx Professional Makeup, and Armani Beauty are a few examples.

Following this year's sharp bearish trend in the cryptocurrency market, some detractors began dismissing NFTs and Web3. However, new projects from beauty, fashion, and luxury brands continue to emerge, defying their predictions.

Rimowa, the LVMH-owned luxury luggage brand, announced its collaboration with Rtfkt, Nike's new digital fashion startup. The goal is to help the high-end fashion industry thrive in the Metaverse.

What is your opinion on Meta’s decision to partner with L’Oréal? Let us know your thoughts by sharing this article on social media.

Oct 27, 2022
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