SXSW 2022 and NFTs
The renowned South by Southwest Conference and Festival (SXSW) held each year in Austin, Texas celebrates the convergence of the tech, film and music industries, as well as the newest trends driving innovation within these spaces.
During this year’s event, Perfect Corp. announced its’ innovative new NFT business solution, offering beauty and fashion brands a seamless way to digitize assets and transform these assets into NFTs. This solution also represents an innovative step in the NFT space, as Perfect Corp.’s solution is the first to enable NFT assets that can be virtually tried-on and worn by consumers.
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SXSW 2022 Beauty Talks: Shiseido Group, E.L.F. Cosmetics and Perfect Corp.
During the event, Perfect Corp. also participated in two insightful sessions which highlighted the many ways AI and AR technology are driving personalization and customer engagement in the NFT and retail space. Perfect Corp. was also joined by its brand partners Shiseido Group and E.L.F. Cosmetics to discuss the powerful role that AI and AR continues to play in the beauty industry’s digital transformation. During the sessions, Perfect Corp. highlighted its new NFT solution and discussed the need for immersive and engaging retail experiences as the beauty and fashion worlds embrace the metaverse.
To view the replay of Perfect Corp.’s SXSW session, “AI + AR Beauty Tech: Personalization and Consumer Engagement with Perfect Corp. and Shiseido”, click here.
To view the replay of Perfect Corp.’s SXSW session, “Transforming Social Commerce: AR Beauty Tech & NFTs with Perfect Corp. and E.L.F. Cosmetics”, click here.
Read on to learn more about the top trends highlighted at this year’s South by Southwest event.
SXSW 2022 Highlight 1: Brands Embrace NFT Marketing and Interactive NFT Experiences
NFT marketing was one of the biggest topics discussed at this year’s SXSW event as brands across tech, retail and more discussed innovations with the growing trend. As NFT marketing expands beyond the art industry into new spaces such as beauty and fashion, more brands will look to introduce NFT collections as a new revenue stream and channel to connect with consumers.
As the NFT trend continues to grow, more and more consumers will look to own NFTs as exclusive collector’s items and pieces of a brand. The trend is also evolving, with consumers looking to interact and engage with NFTs in new and exciting ways.
This was put into practice at SXSW 2022 with experiences from brands such as Doodles, a collection of 10,000 NFTs. Doodles created an immersive experience where Doodle NFT owners could access Doodle-themed entertainment and interactive fun all while learning about Web3 and the future of media.
As consumers embrace the metaverse and develop their digital personas, there will also be a need for immersive NFTs that can be worn and interacted with in digital worlds. Perfect Corp.’s NFT solution will allow NFT owners to wear NFT assets across beauty, fashion, nail color, and jewelry, providing a new way for consumers to express their sense of style in the metaverse.
SXSW 2022 Highlight 2: Digital Personas Will Be Essential in the Metaverse
As consumers and brands become more fully integrated in the metaverse, digital personas and avatars will emerge as the main vehicle to explore these digital worlds. As a result, consumers will want their digital personas to accurately depict how they look, dress, and express themselves.
Brands explored the evolution of digital personas at great length at South by Southwest 2022, with sessions focused on how to create lifelike expressions, holograms, and identities in the metaverse. AR technology will play a key role in the development of digital personas in the metaverse, as this technology will allow consumers to virtually wear makeup, accessories and much more to express their personal style.
SXSW 2022 Highlight 3: The Acceleration of Social Commerce
Another growing trend highlighted at SXSW 2022 was the acceleration of social commerce, as it was revealed that the social commerce industry is set to grow to $1.2 Trillion by 2025, with more than 50% of all online brand discovery now happening in social feeds.
For these reasons, it is more important than ever for brands to strengthen their social commerce strategies to engage consumers. AI + AR virtual try-on technology is one of the most effective tools to personalize social shopping, engage consumers, and increase social commerce sales. Learn more about Perfect Corp.’s social commerce solutions here.
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Read our “Beauty Tech: The Complete Guide 2022” to unlock powerful ROI secrets.