L’Oreal, the world’s largest cosmetics brand has teamed up with United Talent Agency (UTA) to launch a collection of non-fungible tokens (NFTs) celebrating women.

The move is part of the brand’s marketing strategy for its new lipstick collection, dubbed ‘Reds of Worth’ by Color Riche. Five pieces are included in the NFT series, all designed and created by female digital artists inspired by Red.

While making the announcement, OpenSea disclosed that “the five artists will retain 100% of the primary sales,” and 50 percent of secondary market sales will be donated to support L’Oréal Paris’ signature philanthropic campaign, Women of Worth, that recognizes everyday women making extraordinary differences in their communities.

It is clear that both the demand and supply sides of the NFT market have been heavily dominated by men artists. ArtTactic reports that only 16 percent of NFT space’s population is made up of female artists. L’Oréal’s foray into the space could foster participation from more female designers.

Commenting on the initiative Maude Brunschwig, SVP of Marketing, L’Oréal Paris USA said:

This program aims to highlight the gender inequalities within NFT. We hope to shine a spotlight on women working in this sector and attract more women buyers and artists. […]We are proud that we have a company committed to inclusion and empowerment.

Away from regular NFTs, L’Oréal may also explore 3D NFTs. Back in 2018, the company purchased an augmented reality filter company, and last year, it launched a “virtual makeup” filter that allows users to digitally “try on” eye hair products, lipsticks, and eye makeup.

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