“Nars cosmetics dives into metaverse with Roblox”. Why metaverse is a fancy to cosmetics brands?

Roblox has quickly become a platform of interest to beauty brands.

Aside from Nars, other brands like Hally hair care, Farfetch’s beauty vertical and Givenchy Beauty have joined Roblox.

Roblox had 54 million daily active users in the first quarter, a 28% year-over-year growth and its highest ever.

Roblox is a platform that offers scalability in building brand-specific experiential zones which can combine gaming aspects as well as the experiential aspects of the brand’s offerings.

Initially, at launch?Nars cosmetics has created?three islands to explore, while the fourth will debut three weeks later.?

Each island within Nars Color Quest is home to a unique non-playable character (NPC).

?By engaging with Nars NPCs, Roblox community members can unlock special, super-charged abilities that help them advance through the experience.?

For example, by engaging with one of the NPCs, users can create bridges with the wave of a hand, allowing them to cross a molten-gold lava river inspired by the Laguna bronzer.?

Users can also earn badges and use virtual currency to purchase merchandise and virtual looks.

Watch the teaser video here

Future updates will also include new badges, merchandise, and virtual makeup looks

However,?Nars cosmetics is?not?looking at?monetizing?the experience yet but instead wants?to reach a newer audience?who is?unfamiliar with Nars?cosmetics.

The reason that brands are pushing for metaverse are:

a)???Creating virtual experiential zones for their brands.

b)??Awareness and to stay on top of the mind with Gen Z who are highly curious to experiment and learn new tech forms.

c)?????New audience – catch them young & as early as possible. Nars is targeting 13- to 24-year-old Roblox users, who are most likely new to the brand.

d)?????Metaverse is providing brands with their storytelling opportunity for an entirely new audience.

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Summary:?

Metaverse platforms like Roblox provide gaming & experiential zones for the brands to target new audiences.

Brands are currently using metaverse as a new media vehicle to tap into new audience profiles (13-20 years old).

Similar trends were seen in the 1990s with the advent of online gaming & contest sites and brands were fast to bandwagon on them to experiment.

In fact, few brands went ahead creating their own games in those days.

The challenge however I feel with the adaptation of metaverse or web3.0 is the high cost of entry. Creating an experiential game in metaverse can easily drain your pockets by USD 200K to 400K. This creates an entry barrier for mid-sized brands to adapt.

Another challenge is the skill set for talents, currently, most brands are struggling with their digital transformation programs, and adding to it a metaverse gamut makes the adoption more difficult.

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