L’Oréal-backed NYX Launches DAO Dubbed GORJS and NFTs Called FKWME Pass

UTC by Steve Muchoki · 3 min read
L’Oréal-backed NYX Launches DAO Dubbed GORJS and NFTs Called FKWME Pass
Photo: NYX Professional Makeup / Facebook

The NYX Ethereum-based DAO’s members will use non-transferable GORJS governance tokens for proposal voting.

L’Oréal-backed NYX Professional Makeup has launched an online beauty decentralized autonomous organization (DAO) dubbed GORJS, which is pronounced as gorgeous. Additionally, NYX has unveiled 1,000 Ethereum-based NFTs called the FKWME Pass, which is pronounced as fuck with me pass. Notably, the  FKWME NFT passes will be released to the public on February 1, with a floor price of about 0.19 ETH, which is valued at approximately $294 at current ETH prices.

The NYX professional makeup is exploring the possibilities of Web3 to engage more global customers via the metaverse. Moreover, the NYX team wants to redefine beauty in the metaverse, an area in which many companies like Nike are significantly interested.

“From extraterrestrial glass skin to morphing elemental lashes, makeup and digital fantasy are entwined in an aspirational, accessible way,” NYX Global Brand President Yann Joffredo said. “In one instance, eyelashes might be stacked in a multi-tier beauty application norm; in Web3, they could dramatically flare into lifelike flames that dare the viewer to dream.”

The company will also be moving away from traditional content creators who rely on Web2 platforms like Instagram, TikTok, and YouTube to interact with beauty product customers.

Notably, the NYX Ethereum-based DAO’s members will use non-transferable GORJS governance tokens for proposal voting. Out of the 100 million GORJS tokens, 40 percent has been reserved for the community, 18 percent for community grants, 2 percent for token referrals or marketing, 10 percent to the founding team, 10 percent for the advisory, and the remaining 20 percent for the reserve.

The GORJS DAO has reputable Web3-focused executives on its advisory team, including 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.

NYX Professional Makeup: Web3 Beauty Metaverse Industry and NFTs

The next generation of content creators is keen to tap into the Web3 industry to monetize their skills on a scalable network. The metaverse is expected to grow exponentially in the coming years with high-profile institutional investors like Meta Platforms Inc (NASDAQ: META) – formerly Facebook – on the deck. Moreover, the metaverse is running on blockchain technology that is free from third-party interference.

According to the GORJS lite paper, NFT enthusiasts can mint FKWME Pass – a limited collection of 1,000 ERC-721 GORJS NFT access passes – in the allowlist sale on January 31, 2023, and general sale on February 1, 2023.

Reportedly, individual wallets can only mint a maximum of 3 FKWME Passes during the allowlist process, and during the general mint sale. One of the benefits of holding the FKWME passes is the chance to receive multiple airdrops throughout the lifespan of GORJS.

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Steve Muchoki
Author Steve Muchoki

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