Yves Saint Laurent is set to make its debut in the Metaverse with the use of NFTs for virtual goods

Yves Saint Laurent Parfums SA, a well-known French luxury goods company, plans to enter the Metaverse with trademark applications about using non-fungible tokens (NFTs) for virtual goods.

Yves Saint Laurent Plans to Jump on NFT Train

The company intends to provide multimedia files with artwork, text, audio, and video content pertaining to perfumery, toiletries, and other personal care products, according to the applications submitted on January 12. Customers may soon have access to a digital replica of the renowned brand’s tangible products.

The documents also imply that Yves Saint Laurent intends to make direct sales through retail locations established in the metaverse that sell its goods. Integrated projects between the fashion and beauty sectors and the developing Web3 domain reached a turning point in 2022.

As cryptocurrency values fell precipitously, luxury companies like Gucci, Lacoste, and Tiffany all unveiled convergent initiatives utilizing NFTs and blockchain technology in an effort to offer token holders more economic clout. Luxury businesses are showcasing the continuous endurance of Web3 despite crypto’s volatile volatile nature by gradually moving away from immediate monetary incentives and toward longer-term advantages like exclusive rewards.

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