Decrypt | Kate Irwin | Jan 19, 2023
NYX Professional Makeup is launching an online beauty “incubator” in the form of a DAO called GORJS, as well as 1,000 Ethereum NFTs called the “FKWME Pass,” the L’Oréal-owned brand announced Thursday.
- NYX’s DAO, then, is a move beyond physical cosmetics sold at drug stores—an exploration of what makeup means in the digital age of avatars and pseudonymity.
See: 5 Ingredients to Cook Up Your Own DAO
- The Ethereum DAO’s members will use non-transferable GORJS governance tokens—capped at a total supply of 100 million—as voting chips for various DAO proposals and projects.
- DAO members can earn the “soulbound” GORJS tokens in a variety of ways, including by purchasing a FKWME Pass NFT (pronounced “fuck with me”). If a token is “soulbound,” it means it’s non-transferable and cannot be moved from the holder’s wallet.
- The DAO also has a number of Web3-focused executives on its advisory team, including The Sandbox co-founder Sebastien Borget, Ready Player Me founder Timmu Toke, Polygon Labs Metaverse Lead Brian Trunzo, and Amber Ward, CEO of creative agency Invisible North.
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- Source: https://ncfacanada.org/loreals-nyx-makeup-branded-dao-soon-launching/