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E.l.f. Cosmetics and Hot Wheels want in on NFTs.

Jun 21 2021

E.l.f. Cosmetics and Hot Wheels want in on NFTs. Yes, the crypto-art trend is (still) having a moment and young consumers are also still trying to figure out WTF NFTs are. But more brands are putting their spin on NFTs, using them to try to build community with loyal fan bases by turning IRL products into digital collectables. E.l.f. Cosmetics is converting some of its cult-favorite beauty products, including its Poreless Putty Primer, 16HR Camo Concealer, and Ride or Die Lip Balm, into NFTs—a.k.a. “Ne.l.f.Ts.” Only nine crypto-collectibles exist, and they’re being sold on Bitski for the same price as their IRL retail items. Mattel’s Hot Wheels also unveiled a line of NFTs targeted at its toy fans, and the brand plans to turn other properties into NTFs later this year. (Marketing DiveKidscreen)