FTX – a famous crypto exchange – has hired Lauren Remington Platt (a beauty entrepreneur) to play the role of the platform’s head for international luxury collaboration, which is a uniquely-made position. Platt – having a decade-long experience – is a radically demanded beauty firm called Vensette’s founder. The respective beauty platform has already done collaborations with brands such as Sake 5th Avenue, Vogue, as well as Michael Kors, to provide the professionals with the experience related to hair-dressing as well as pre-vetted makeup.
FTX CEO named – Sam Bankman-Fried – remarked about the respective step stating that they were excited to witness Lauren as the part of the company as she would forerun the upcoming marketing venture into luxury collaborations. Nonetheless, he added, the wealth experience of the beauty entrepreneur in the luxury and fashion space will be fundamental for the upcoming stage of the group’s branding and partnership focus.
In the next months, crypto will be incorporated into the field of luxury and fashion on the behalf of Platt via collaborations across the overlapping zones taking account of – but not restricted to – digital art, luxury goods, and payments, as told by a representative for Platt. Gisele Bündchen (the social and environmental initiatives’ heat at FTX) and Platt will work in close partnership. The respective appointment signifies one among several expansion avenues for FTX. It was reported formerly this week that an exclusive gaming domain has been launched on the behalf of the exchange.
The plan of FTX, following the appointment of Platt, is to capitalize over the market of luxury goods (which has a valuation of nearly $300B) as it would expectedly escalate by $34B by 2025. Beauty, as well as fashion-related brands, have been progressively entering the crypto world as people have been pushed by the pandemic toward digital and online experiences. Only this February, several companies applied for trademarks related to the metaverse, such as Dermablend, Pink, Kiehl, L’Oreal, Urban Decay, and Victoria’s Secret.
Just a 7% proportion of women is part of the crypto industry, and this has several societal as well as financial effects, as per Platt. Only 9% of all women consider that they have some understanding of crypto, indicating that a vast majority of them do not have access to the most significant opportunities for wealth generation. To acquire gender equality, the women must be invited to have the instruments required for claiming ascension of cryptocurrency.
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