NFT NYC, BeautyTech, crypto perspectives … A look back at the latest Journal du Luxe 3.0 live.

Journal du Luxe 3.0 is a new meeting place for the luxury and technology sphere, deciphering the news and key trends in a thriving sector every two weeks. Focus on live on June 16 with the report from NFT NYC, a summary of the new Bain and Altagamma report, the launch of luxury brands in Web3 and the latest metaverse campaigns, all concluded with exclusive interventions from Joël Hazan (BCG ), Olivier Rivard-Cohen (Cacio e pepe), Sylvain Delteil (Perfect) and Nicolas Rebet (Retailoscope).

Economic robustness of luxury and optimistic prospects around Web3.

Bain & Company and Altagamma recently published a study on the global luxury market, its trends and future prospects. The message of home is none other than the exceptional economic robustness of luxury in 2022 with an expected growth of between 5 and 15%. Among the new ways of luxury, we find luxury 3.0 – with growth in 2030 estimated at +5 to + 10% in the Web3 sphere alone – and digital assets with a fairly strong influence from games and metavers. .

Life also focused on another study dedicated to the expectations of women in the metaverse. An extremely strong educational need arises with socialization at the forefront of applications, as 43% of women aged 18 to 24 want to connect and socialize.

Finally back to a debate that has ignited the web in recent days around the announcement of Meta and its avatars designed with certain luxury homes. The Web3 community was quick to respond by pointing out a lack of uniqueness and interoperability, an overly marked style, a visual too close to reality and, above all, basically the debate between decentralization and centralization, which is central to the development of metaverser.

Despite a decline in the crypto market, luxury and Web3 continue to write their story.

Some brands show originality in this extension of reality. The proof of the smart ring by Gucci and Oura that allows you to better understand and express yourself through an application that combines well-being and health.

As for NFTs, the inevitable event of the last few days was NFT NYC, a veritable Superbowl of digital coins. Despite a decline in the market in volume, it seems that the enthusiasm of brands and investors continues. A few points to remember from the main lessons delivered during this event:

  • Security is the key, the password in the keynote given by Ledger, the market-leading French unicorn.
  • Utility is the key word and the phygital dominates.
  • Web2.5: would not it be interesting to take the best of both worlds?
  • The tool war creates confusion for brands that do not know where to turn.
  • Metaverset is truly the buzzword of the year.
  • Augmented reality is one of the vectors for the adoption of Web3 in a virtual way.

With the fall in the price of cryptocurrencies, Web3 has observed an increase in the search for meaning and “purpose”. This is also the purpose of the July 12 arrival of NFTs produced by actor Bill Murray. Finally, the appointment of Pharrell Williams as Chief Brand Officer for the Doodles collection says a little more about the interest of artists and celebrities in Web3.

Luxury continues its rise in the Web3 universe with two new launches. On the one hand, Bentley, a famous luxury car brand, which launches its unique collection of 208 NFTs on the Polygon, the number of which corresponds to the maximum speed of the Bentley continental GT. On the other hand, The Manufacturer and World of Women are teaming up to build a more ethical Web3 through a collection of digital fashion.

webinar for the world of women

No one gets around this: The amount of NFT marketplaces is at its lowest ever. What needs to be remembered is that despite this situation, many collections continue to be launched, but All Time High has made room for long-term strategies. Maybe a good sign for mass adoption?

Finally, Kering continues its rise in Web3 by investing $ 1.5 billion in the Haun Ventures fund, which was launched in March. Hublot, for its part, and after the first announcements in recent weeks, enters into a partnership with Bitpay to accept payments in cryptocurrency.

In terms of Discord, NFT God gives us an interesting reflection on Discord’s potential to weaken non-fungible token projects. While all of NFT’s initiatives are now being launched on this social network, are they not also distracting its own communities?

In the blockchain news, Vertu was in the spotlight, the brand that began its journey in the 2000s to redefine luxury in mobile telephony. The house returns to the forefront by offering a new phone model, called “Privacy is the new luxury”, only available through the purchase of NFT and in partnership with Binance.

virtue web3

No Web3 project without gaming skills “ pointed out Eric Briones. This is the lesson from the launch of Gucci Gaming Academy with Face IT, around the mental health of the youngest, but also the arrival of the Gucci Vault and the Super Rare platform. It is a completely immersive NFT exhibition where storytelling is more than important.

As a conclusion to the headline news, Salvatore Ferragamo has just launched a new store in New York with a range of bespoke sneakers.

Interviewed with luxury 3.0 strategists.


Sylvain Delteil – Beauty Tech: Basics and Lessons for Luxury.

Sylvain Delteil, Business Development Manager at Perfect Corp. returned to the basics and lessons of beauty technology for luxury since 2013.

perfect body

The issues we face today are relatively similar to those we experienced a few years ago in the world of cosmetics. ” he explained.

A few highlights should be noted from 2013 to today: massive investments in technology, data and customer engagement, the advent of smartphones, omnichannel issues, the growing use of communication tools. ‘AR / VR just before taking the Web3 tour.

Google launched its Virtual Try On service in 2021. “How can a luxury company manage its e-commerce site, its stores, its social networks … Here we come to omnichannel problems ”.

Many questions then arise with the advent of these technologies and NFTs about the identity of its brand in the digital universe, the actors with whom to start and the goals to be pursued.

Joël Hazan – The Deciphered Analysis of Luxury 3.0.

“That Luxe 3.0 is a broader concept than just the Web3 application. It’s about communities and knowledge “ said Joël Hazan, CEO and partner of international strategy consulting firm Boston Consulting Group.

luxury 3.0

Joël Hazan raised the awareness that brands need to reveal their community and create legitimacy for them to participate in those communities. He revealed that communities have many expectations and therefore need to offer knowledge, culture and go beyond the product. Finally, he stressed how important it is for luxury brands to provide a culture and opportunity for interaction, opportunity to be a financial shareholder, but also a “creative” shareholder.

People who are active in NFTs are active for the investment and financial opportunity it represents. But with 60%, they value the community and the utilitarian aspect. “

RTFKT is in this a unique phenomenon, which in 6 months of operation has collected $ 1.5 billion in total sales, while the brand decides to keep only 300 million for itself. Everything else is left to the community as value creation. This is one of the lessons learned from the Web3 philosophy. The value creation is impressive and the member of a community contributes to the latter. The protagonists of the virtual world were able to observe the birth of a fashion brand pure Web3 player through RTFKT.

According to the expert, several aspects of Web3 are important to consider: control over the value chain, the issuer’s ability to capture royalties on secondary sales to create value, the brand’s ability to create and engage communities, immersion …

The figure to be remembered from the BCG survey is 65%: this is the proportion of NFT holders who prefer to keep a “blue chip” NFT over an emblematic luxury brand (for example, a Chanel bag). But out of the general population, only 5% prefer NFT over luxury goods. This therefore shows an enormous potential for brands, but a real need for education for the public.

Olivier Rivard-Cohen – Web3 business models.

Olivier Rivard-Cohen, founder of the creative agency Cacio e Pepe, in the introduction to his remarks indicated the economic model for Web3 and the coming.

rtfk web3

Abundance is the foundation of brands’ business models. Today, with the adoption of the Web3 philosophy, we can give weight to an object, but also to the user “.

The economic model is at the heart of the revival of retail. Manufacturers at the heart of the fashion industry have things to do around Digital Twin and are without a doubt the next strong point for luxury homes. The challenge beyond even an economic model is how I engage and embrace these new players and consumers. “. Olivier ended his speech with the attitude that is both avant-garde and reasoned that luxury brands should have, by first and foremost asking themselves about their role and what they want to convey in this new universe.

Nicolas Rebet – Metaverses, revenge for physical retail and stores?

Nicolas Rebet, founder of Retailoscope, discussed the recent launches of Gucci Vault and Printemps Virtual Store, where the transition from physical to e-commerce has not always been easy.

spring

How can we transfer a store where we can make real purchases on Web3? “. Luxury brands have the ability to stage in a different way and script their products to convey more emotion. “We need to create sales avatars to create interaction “. There are still many challenges in the ability to exchange between avatars, to transfer the physical relationship to Web3.

See you on July 14 at 11.30 for a new special edition. Until then, the live Journal du Luxe 3.0 can be viewed or revisited here:

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