In my post this week, I talked about the opportunity consumer-facing companies have to leverage tokenization to promote core business. As part of my Friday series, let’s bring that concept to life a bit!
Looking at the beauty industry, there is an interesting example that I recently came across.
Yves Saint Laurent (YSL), the French Luxury fashion house, is one of the more active brands in the tokenization space. Earlier this year, they launched their YSL Beauty Night Masters collection, in alliance with three female artists: Ivona Tau, Natalie Amrossi, and Laura Sills.
Here’s what I’ve been able to find from publicly available sources:
- 300 total tokens in the collection — 279 for sale, 21 kept in reserves
- 3 unique NFTs — one from each artist with 100 editions
- Original sale took place in March — existing owners of other YSL Beauty Blocks got early token-gated access, before the public sale
- Minted (via lazy mint) on Ethereum mainnet — original price was 0.2 ETH, floor is currently at 0.21 ETH
- All proceeds going to charities associated with YSL’s Abuse Is Not Love initiative
- Token owners are able to claim two physical items: a 20x20 metal print of the artwork and a Black Opium fragrance duo gift set
A lot of different features to call-out in this one:
- Token gated access to new token collection
- Leveraging the aura of digital art + tokenization as a marketing strategy
- Token gated access to physical products
- Token gated opportunities going forward as YSL launches more initiatives
You can start to see — this is more than just a “NFT launch”.
Token gating is creating new engagement mechanisms to interact with your customers. Along the marketing funnel, token-based products and services can be used:
- Before the Sale: excite people about new products
- During the Sale: unique access, differentiated service, discounted products, etc.
- Post Sale: grant additional access, rewards, etc.
As you think about your strategy with your customers, tokenization can be another tool in the toolkit to improve your customer dynamic, all while resulting in improvement to your bottom line.
Let me know your thoughts!
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