In its second season, Crypto Fashion Week with NFTs saw big names joining the bandwagon as major brand partners. Minting as an NFT, NYX Professional Makeup served the first of its makeup looks that set the tempo going. It is the official beauty partner for the event that is set to take place between 10th to 17th September. Amongst the best features was the participation of Rebecca Minkoff in an NFT outfit. The NFT wave has seen multiple mainstream beauty and fashion brands lining up for the Crypto Fashion Week ever since the first edition was held in February 2021. 

The participation has been mainly to cash in on the hype surrounding NFT and its community. The organizers are optimistic about a future when virtual beauty and fashion will take center stage. The founder of Crypto Fashion Week, Lady PheOnix, was quoted as saying the world is ready and charged up to march ahead to a metaverse. She believes that nearly everyone would own an avatar in the coming future. She also affirmed the belief that those wanting to be fashionable in real life would also want the same in the metaverse.

The Crypto Fashion Week was organized by the “Universe Contemporary”, a crypto media company owned by Lady PheOnix, which saw the event being held across multiple platforms. This included the likes of Twitter, Twitch, Spaces, YouTube, and the company’s website. The event highlights saw talks, NFT drops, and featured live streams which were concluded with a virtual fashion show titled the Meta Gala. 

Mimi Choi, a special-effects makeup artist, created the first real-life look for NYX Cosmetics as a digitalized version which was coupled with a hologram capture giving life to an avatar. An AR filter format for NFT saw the minting of a digitalized version of the makeup look, which enabled site visitors to enter the Meta Gala and take part in the giveaway. The fashion show featured a Rebecca Minkoff outfit donned by Choi while modeling the makeup look in the digitalized version. 

The try-on for virtual makeup has been crucial in connecting with the audiences that give life to makeup artistry, as quoted by the GM of MYX Professional Makeup USA, Yasmin Dastmalchi. She also stated how the product portfolio showcasing the entirety of the brand is available for virtual try-on. The NFT featured looks for the fashion show were up for virtual auction for 24 hours coupled with a giveaway entry by NYX Cosmetics. The bids started with a minimum of 1 Ethereum, which is equivalent to 3,377 US dollars.

There are a few beauty brands that allow the usage of cryptos amassed through cryptocurrency betting for purchasing products. This is a field that is yet to be explored, as quoted by Dastmalchi.