Summer diaries and review of a crypto winter mixed with a burst of news from Luxury and Web3, deciphering current trends on luxury platform models, the future of e-retail, or even energy sobriety in the Web3 era.
On September 15th, over 2,300 people followed the live return to school conducted by Karen Jouve and Eric Briones accompanied by their guests Patrizio Miceli (Al Dente), Alexandre Bloch (Al Dente X The New Face), Jean Révis and David Bourguignon (MAD ), Frédéric Cavazza (SYSK) and Sylvain Delteil (Perfect Corp).
Between crypto winter and love on the beach: Luxury 3.0 is fine.
“In the middle of winter, I discovered an invincible summer inside me”. This quote from Albert Camus sums up the state of today’s market well. Despite a cryptocurrency market at half-auction that has been winding down for several months, the Luxe and Web3 projects have never been so numerous to hatch. Something to put the news into perspective.
On the one hand, many indicators are red, the price of flagship cryptocurrencies like Bitcoin or Ethereum has faltered, many experts including the CEO of the Coinbase exchange are alerting investors and asking them to prepare for a tropical winter that could last from 12 at 18 months. At the same time, some failures begin to occur in Meta, which is retreating, or even some giants who had believed for some time in the emergence of a new role of Chief Metaverse Officer, but are slowing the pace.
Yet, in light of the latest report released by Dune, behind the giant Nike, it is essentially the luxury houses that win the award for the best NFT collections that have generated the most revenues. Dolce Gabbanahas made over $ 25 million in NFT sales, a true NFT success story. As for Guccibetween its extraordinary collaborations with SuperPlastic and 10KTF or commercializing digital artwork, the house would have earned $ 11.56 million in revenue from its NFT businesses, including $ 10 million in direct sales and $ 1.56 million. resale dollars.
In the main trends observed this summer with luxury homes, we note the standard gradually created by NFT Moments, in particular popularized by POAPs: from Estée Lauder to Kenzo, large luxury homes use them to create new ways of interacting with their community, involve their customers and create a first level of loyalty through the Web3.
Finally, this summer will also be the occasion for sensational collections such as Tiffany & Co., which is completely rethinking the art of gifting through the Web3 offering the owners of Bored Ape Yacht Club 250 brand pendants, as if to make them. sign to enter the community. Alexandre Arnault hit hard again.
What to remember from the Journal du Luxe 3.0 of 15 September.
Many topics on the agenda for this back to school event. All the speakers were thus able to contribute their stone to the construction of a collective reflection on the state of the market and on the development prospects of luxury 3.0.
Among the great themes to remember:
- The long-term impacts of the cryptocurrency crisis. When it comes to crypto winter, we are obviously talking about a period of sharp decline in the cryptocurrency market, generally followed by fears for less experienced investors. However, another way of looking at the situation is also to seize opportunities, such as building really solid projects during the bear market to grow and develop better during the recovery. Many brands, especially in the luxury sector, have understood this and are now committed to building a real business around the Web3, gradually forgetting the purely speculative aspect.
- Law of Meta series. Even today it is difficult to obtain a consensus on Meta’s methods and vision. When some speak of an ambitious Metavers, others shout bullshit. And for good reason: have we been waiting to talk about a metaverse to get unrealistic avatars and centralize something that, by definition, needs to be decentralized? Some of the worst shots produced by Meta have thus created heated debates among Web3 specialists.
- The transition from a closed “Fashion House” model to an open “Luxury Platform” model. If luxury homes have failed to seize the opportunity of the previous wave of digital transformation, they are taking their turn with Web3. This is underlined by Jean Révis and David Bourguignon, of the MAD consulting firmit is the importance that luxury brands must give to the value they generate thanks to the new tools that are the NFT or the Metaverse, as well as the essential protection of the customer, the brand and the environment to be part of a sustainable and profitable approach . In this context, all the experts present at this broadcast agreed to say that with Web3 luxury homes have the opportunity to enter a new era and to fully grasp the added value brought by these new ecosystems, in particular by building real and own open luxury and decentralized platforms. The example of luxury consortia or collaborative collections prove this. “Alone we go faster, together we go further”. The challenge is also and above all to obtain independence from traditional platforms such as GAFAM to finally regain control of one’s customer experience and its databases.
- Digital crafting and its impact on recruiting. Today there is a real recruiting challenge around the rare profiles that make luxury 3.0. And not all luxury homes necessarily have an interest in trying to internalize everything. 3D designer, crypto artist, Voxel Edit developer … a lot of skills are required, especially to adapt to the state of the market. In this jungle of skills and good vision, some players stand out, such as the agency AlDente and The New Face, which for years have supported the new changes in luxury, particularly in the digital sector and more recently by becoming one of The Sandbox’s partners. During the live, Patricio Miceli and Alexandre Bloch thus insisted on the importance of building a Metalluxury experience at the service of the new generations and immersing themselves in the codes that will make the luxury of tomorrow.
- Energetic sobriety and its challenges for Web3. “The next big thing collides with the imperative of a more responsible digital” underlines Frédéric Cavazza, warning of the essential issue of reducing the carbon footprint and energy sobriety at the service of greener and environmentally friendly projects. There are many areas of progress on this point and it is true that luxury homes need to integrate it “by design” into their internal and external processes.
See you at the Global Beauty and Fashion Tech Forum on September 22nd.
Perfect Corp., partner of the last four editions of the Journal du Luxe 3.0, organizes a forum dedicated to beauty and fashion tech surrounded by the best experts on 22 September from 9:00 to 12:30. Among the guests, around Alice Chang, CEO of Perfect Corp and Sylvain Delteil, VP Business Development Europe, there will be personalities from Fabernovel, Pierre Fabre, Coty, Dior, Baker, as well as Eric Briones, Managing Director of the Journal luxury.
The opportunity to decipher the challenges of beauty and fashion technology by browsing the trends and challenges at work to build technology at the service of luxury and beauty. Meet here sign up and don’t miss any of the debates!
Until then, JDL 3.0’s 90-minute back-to-school replay can be (re) viewed here.