L'Oréal's sub-brand NYX launches Web3 beauty incubator DAO

In early February 2023, NYX Cosmetics issued 1,000 digital membership passes, leading to the birth of GORJS DAO, aimed at becoming an incubation platform supporting 3D artists. Within just a few days, the project has sparked numerous discussions, including speculation and aspirations for the future of the digital world. These factors together constitute a journey of brand and community exploring the unknown.

GORJS DAO is an internet-native organization formed based on shared culture, hobbies, or visions. It has clear objectives, certain funding, and utilizes blockchain technology for financial and governance management to promote the achievement of its goals.

NYX is a young cosmetics brand under L'Oréal, specializing in internet operations. Although its annual sales account for only about 1% of the L'Oréal Group, it has a large following on social media. The core members of GORJS DAO mostly come from the NYX executive team.

The main goal of GORJS DAO is to explore the concept of "beauty" in the digital virtual world. It supports 3D artists by providing funding and brand resources. After the artists complete their works, a portion is gifted to DAO members, while the rest is sold publicly in the market, with the sales revenue being shared between the artists and the DAO. This model allows community members to continuously acquire digital artworks, while also potentially generating income for the DAO if the works become popular, achieving sustainable development.

NYX chose to launch this DAO to explore the definition of virtual beauty in an increasingly digital world. They hope to become pioneers in the exploration of beauty in the digital world through this Web3 approach. The team emphasizes that this is not for short-term gains, but to be at the cultural forefront and understand the transformative power that the combination of culture and new technology can bring.

GORJS DAO emphasizes the principle of "by the community, for the community." The team hopes to establish direct contact with most DAO members to understand their needs and visions. As an incubator, GORJS's core business is to nominate artists through proposals, with funding decisions made by community members voting.

Despite the success of the launch of GORJS DAO in some aspects, it also faces challenges. Technical glitches occurred during the sale process, and a large influx of speculators made it difficult for genuine community supporters to obtain passes. This has led to dissatisfaction among community members and created difficulties for the initial operations of the DAO.

In response to these issues, the team quickly took action, including holding community meetings to explain the situation and adjusting the rights of secondary market buyers. However, price volatility and community expectation management remain the main challenges faced by the team.

As a DAO initiated by a company, GORJS also faces unique challenges in terms of decentralization. Although technically control has been handed over to the community, in the early stages, the DAO still relies on the L'Oréal team to advance matters. In the future, as the community matures, a higher degree of decentralization may be gradually achieved.

The attempt of GORJS DAO represents a new model of symbiotic system formed between a commercial company and a community organization. If successful, it could become an example for brands exploring Web3. However, there are still many challenges to truly engage supporters and form a highly interactive and mutually trusting community.

Only when the hype subsides can real consensus gradually form. The GORJS team emphasizes that their goal is not simply to sell NFTs, but to launch a true DAO. This story is still ongoing, and there are many details and developments in the future worth paying attention to.