Credit: digital village
Through his venture capital fund, L’Oreal takes a stake in the startup Digital Village focused metaverse-as-a-service And NFT market for brands and designers.
PumaNikes, DecathlonNivea, Tiffany… there are many brands to have initiatives launched in the fields of Web3. On the other hand, fewer of them in traditional sectors such as fashion or luxury have invested in pure-players.
This is especially the case with Nike with the start-up RTFKT. Now we also have to deal with the global cosmetics giant L’Oreal. The group announces a investment in Digital Village.
Seed tower for the startup NFT Digital Village
Funding, as part of a seed round, is through Bold, L’Oréal’s venture capital fund. And it is therefore intended for a young American photographer specializing in metaverse and non-fungible tokens or NFTs.
Digital Village’s vision is to build a new internet anchored in 3D spaces that facilitate the creation of identities and digital worlds with a focus on sustainability and accessibility”, as defined by the startup founded in 2021 and directed by Evelyn Mora.
L’Oreal does not take control of Digital Village as it is a acquisition of a minority stake“co-directed” by Venture reality fund, accurate the press release. The pharmaceutical giant still has access to Web3 expertise.
Digital Villageis “both a platform that allows the use of services in the metaverse (metaverse-as-a-service) e NFT market for brands, creators and communities”.
The metaverse specialist relies on an international team. The same goes for his advisers, including in particular Sebastian Borgetone of the founders of The sandbox.
L’Oréal explores the world of beauty in Web3
This participation is led by Camille Kroely, managing director of Metavers and Web3 at L’Oréal. For the latter, this initiative is a continuation, namely “ explore the world of beauty in Web3 “.
The cosmetics manufacturer is therefore looking to enter into partnerships “with most promising startups, offering the highest visual and technical qualities. “Digital Village solutions are described as ‘powerful catalysts’ for the group’s brands.
We are delighted to be supported by BOLD and look forward to working with L’Oréal to revolutionize the beauty industry by creating cutting-edge virtual experiences for the Group’s leading brands.” Evelina Morafounder and CEO of the startup.
The manager, based in Paris, is an experienced professional in the fashion industry. She is notably the founder of Helsinki Fashion Week. She was also a consultant within the Kering group between 2020 and 2021.
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