L’Oréal & Meta Collabs To Launch Acceleration Program in Metaverse

• L’Oréal and Meta partner with HEC Paris for a startup acceleration program focusing on creativity in the metaverse.
• The program aims at supporting startups specializing in metaverse and Web3.
• The latest collab plans to create an inclusive metaverse, says Meta President.

L’Oréal in collaboration with Meta will soon launch a startup acceleration program focusing on creativity in the metaverse in partnership with the French business school, HEC Paris.

As part of the program, at least five startups specializing in 3D production, augmented reality (AR), virtual reality (VR), mixed reality, avatar creation, user experience portability, token economy, and other topics connected to the metaverse and Web3 will be supported. However, they do not need to be directly related to the beauty industry.

L’Oréal’s Chief Digital and Marketing Officer Asmita Dubey, while sharing her opinion on the upcoming venture, said that the event would bring a lot of young talents together. She also stated that this new initiative will benefit the creativity of L’Oréal’s DMI (international marketing direction) and the brand looks forward to leveraging the same.

With regard to the L’Oréal and Meta collaboration, Meta Vice President for Southern Europe, Laurent Solly said,

We are proud to associate ourselves with L’Oréal thanks to this ambitious project, which aims to support the French startup ecosystem that will have a key role in the building of a shared, creative and inclusive metaverse

This accelerator will be based in the Meta space of Station the 13th arrondissement of Paris, which advertises itself as the world’s largest startup campus. The application period closes on November 20th; a jury comprising the members of Meta, L’Oréal, and HEC, as well as entrepreneurs and investors, will select the startups in December; and the program will kickstart from January to June 2023.

However, this is not the company’s first venture into crypto. L’Oreal Paris held the Reds of Worth NFT auction in December 2021, selling the digital arts for 0.5 Ethereum. L’Oréal also submitted 13 trademark applications related to NFT and the metaverse to the World Intellectual Property Organization in February 2022.

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