L'OREAL & DIGITAL SERVICE WEB3
L'Oreal & Digital Service in the web3: metaverse & NFT marketplace
BOLD (Business Opportunities for L'Oréal Development), L'Oréal's Corporate Venture Capital fund, announces a minority investment in U.S.-based startup Digital Village, a Metaverse-as-a-Service platform and NFT marketplace for brands, creators, and communities. This is L'Oréal's first venture capital investment in the metaverse and Web3 space, as well as the first investment made by the BOLD Female Founders initiative launched in 2022.
Led by an international team from the United States, Europe and Asia, Digital Village offers innovative scalable technologies for creating and interacting digital identities and assets in virtual environments. The start-up was founded in 2021 by Evelyn Mora, a former Digital & Sustainability Consultant for leading brands and founder of Helsinki Fashion Week, an all-digital event with a focus on sustainability. Digital Village's Advisory Board includes founders and top managers from Pangaia, The Sandbox and Wave.
"As L'Oréal continues to explore and delineate the role of beauty in Web3, we aim to partner with the most promising start-ups that adhere to the highest visual and technical standards," says Camille Kroely, Chief Metaverse & Web3 Officer at L'Oréal. "We are excited to partner with Digital Village, whose solutions will be powerful enablers for our brands and with whom we share the same ideals of sustainability, accessibility and interoperability in the metaverse or Web3″.
Venture Reality Fund (VR Fund), a Silicon Valley-based technology-driven venture capital firm specializing in virtual and artificial reality, is alongside BOLD in leading this round of Seed Financing in Digital Village.
"We are delighted with BOLD's support and look forward to partnering with L'Oréal to revolutionize the beauty industry through the creation of innovative virtual experiences for the company's brands," concluded Evelyn Mora, Founder Digital Village. "Together we are defining the canons of beauty in the metaverse and Web3, expanding the boundaries of what is possible and setting a new standard for the entire industry."
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