TL;DR Breakdown
• NFT Auction will be divided into three categories
• MAC Cosmetics will publish images of their cosmetics with Haring’s works
The Canadian company dedicated to women’s makeup, MAC Cosmetics, announced its arrival in the non-fungible token market. The manager talked about his interest in Metaverse, NFTs, and everything related to cryptocurrencies. The company would be working with Keith Haring, a foundation dedicated to promoting programs for children in need and helping people with AIDS.
The cosmetics firm would be responding to the demand generated among its users by the NFT trade. The non-fungible token market gained priority in 2021 when various fast food chains and international artists adopted it.
MAC Cosmetics talks about their NFT project
With over 30 years in operation, the makeup products company MAC Cosmetics announced its integration into the NFT market. The cosmetic firm said this NFT project was supported by the Keith Haring organization, dedicated to supporting various Canadian NGOs.
The NFTs pieces will be based on the “Viva Glam” series, a lipstick owned by the company. However, these lipsticks will be designed with the art expressed by Keith Haring, noted for being a contemporary artist.
Among other details revealed by MAC Cosmetics, the NFT series will have several categories according to their rarity, showing that each non-fungible token will have a unique value. The Red NFTs will be the most common, while the Yellow pieces will fall into the range of the most exclusive. The series will also have an intermediate part where it shows the Blue NFTs for only 250 items.
Haring NFTs cost
Keith Haring, a contemporary artist who passed away in the 1990s, is still present in the art movement, but this time represented by the NFT market. Alongside the NGO dedicated to the artist, MAC Cosmetics would be promoting the first virtual auction inspired by his works.
According to the manager at MAC Cosmetics, the red NFTs would have a value of $25. But the Blue NFTs will rise in price to over $150, and the yellow category will exceed $1,000.
The cosmetics firm’s partner, the NGO Keith Haring, will take over 2 percent of sales in its entirety to support the foundations on its list. Another percentage of sales will go to “Viva Glam,” the Canadian company’s charity.
The NFT auction comprising 5,275 pieces in its entirety will be released in the coming days so that NFT enthusiasts can participate in the auction. This auction will serve its purpose and it is expected to sell every available NFT piece. The Canadian company could eventually launch a second NFT auction, but it all depends on the results of the current virtual project in the works.
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