Metaverse Marketplace Digital Village is Invested by L'Oreal

It is the first venture capital investment by L’Oréal in the metaverse & Web3 space.

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（Credit：Digital Village）

Beauty giant L’Oréal’s venture capital fund BOLD (Business Opportunities for L’Oréal Development) has invested in Digital Village, a metaverse-as-a-service platform and NFT marketplace for brands, creators, and communities.

This move marks the first venture capital investment by L’Oréal in the metaverse & Web3 space. This investment is also the first made by BOLD’s Female Founders initiative launched in 2022.

Founded in 2021, Digital Village is described as a brand positioned as a leading digital and sustainability consultant, offering new and scalable technologies for creating interactive digital identities and assets in virtual worlds. Digital Village’s Advisory Board counts founders and top executives from PANGAIA, The Sandbox, and Wave.

“The company revolutionizes commerce and community engagement by equipping brands and creators with the tools to build captivating, immersive virtual experiences in the metaverse,” according to an announcement shared first with WWD.

“As L’Oréal continues to explore and define what beauty means in Web3, we seek to work with the most promising startups who adhere to the highest possible visual and technical standards. We are excited to be partnering with Digital Village, whose solutions will be powerful enablers for our brands and whose ideals of sustainability, accessibility, and interoperability in the metaverse or Web3 are ones we share,” said Camille Kroely, Chief Metaverse & Web3 Officer at L’Oréal.

“We are excited to be backed by BOLD and look forward to collaborating with L'Oréal to revolutionize the beauty industry through the creation of cutting-edge virtual experiences for L'Oréal's renowned brands. “said Evelyn MORA, Founder and CEO of Digital Village.

“Together, we are setting the bar for beauty in the metaverse and Web3, pushing the boundaries of what is possible and setting a new standard for the industry to follow.” Source： L’Oréal