This was a big week for consumer crypto with major announcements from Louis Vuitton, Sephora, and Mastercard. Next week, the space meets at NFT.Paris. I’ll be there. Meet me there or join this group!
“Brands succeed when they break through in culture. ” — Douglas Holt
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Sephora announced its Web3 platform “Sephora Universe”:
Why it matters: Sephora is a $11BN retail business for beauty products with nearly 340 brands represented along with their own private label.
By the numbers: Over 80% of Interbrand’s Top 100 Global Brands have already launched immersive commerce experiences.
Be smart: Brands either build in “owned” or “open” (e.g. Roblox) virtual worlds. Key players for owned worlds are Journee, ByondXR, Spatial, Obssess, Dreamwave, or Emperia.
Punchline: Immersive commerce is a key Web3 consumer vertical. More brands will start connecting different formats and platforms, such as physical/virtual, community, and gamification, while generating a wealth of first party data.
