Get versed in the Metaverse
The Red Tree is offering beauty brands a chance to win an immersive virtual store.
What is the Metaverse?
The metaverse can simply be considered as the future of the internet. The Red Tree’s recent white paper The metaverse & the $5 trillion beauty opportunity introduces key terms, simplifies the most salient points and educates those in the beauty community who want to broaden their knowledge of an area that will become increasingly important to the beauty industry.
Why is this important for your brand?
Millennials and Gen Z, who are known early adopters, continuously seek interactive and immersive brand experiences. Wunderman Thompson (2023) reports that 70% of consumers who are familiar with the metaverse believe it will be a place to shop, and 68% believe it will be the future of ecommerce and online shopping.
Brands such as Estée Lauder, Fenty Beauty and L’Oréal have created experiences in the Metaverse that allow consumers to interact with their brands in a new way. However, many of the current Metaverse platforms are out of reach for smaller brands. They are expensive, time consuming to build and lack crucial test and learn time.
The The Red Tree and ONEWAYX partnership will give one brand the chance to become an early adopter, lead within the space and empower their growth.
Why is this competition so unique?
In a recent report analysing 526 top brands, one-third had embraced a Metaverse project. Now, we present an extraordinary opportunity to position your brand alongside industry leaders like Gucci, Nike, and Louis Vuitton.
Using a combination of highly immersive experiences, the Get versed in the Metaverse competition offers brands a decentralised space that brings their brand into the future. The winner will receive a virtual store for 3 months, saving over £5,000.
Applications open: Tuesday 4th July 2023, 9am
Applications close: Sunday 16th July 2023 11.59pm
Winner announced: Wednesday 19th July 2023
What do I win?
- Complimentary use of ONEWAYX 3D store design template, which can be previewed here.
- The ability to customise certain aspects of the design, including wall and flooring colours, outside environment, and transforming the runway into shelves for product placement.
- Placement of 8-10 products in the virtual store.
- Complimentary integration of the virtual store into the winner’s existing ecommerce website.
- Product onboarding in FBX (.fbx) or OBJ (.obj) format
- Complimentary hosting for a duration of 90 days.
- Integration of gamification elements for promotional giveaways.
- Provision of a consumer user behaviour report at the end of the trial, including data on product views and average user engagement time.
- Tracking the conversion rate of users from engaging with virtual content to desired actions like making purchases or subscribing to services.
- The cost associated with presenting products in 3D models. Brands will incur an additional charge if the formats are not in FBX (.fbx) or OBJ (.obj). A fee per product onboarding will apply. Subject to product design.
- If the brand wishes to continue using the immersive experience after the trial, ONEWAYX monthly fee starts from $1800 per month.
Our Judging Panel
Annie Siara, CEO and Co-Founder - ONEWAYX
A visionary leader driving the positioning of ONEWAYX as a prominent Metaverse Operating System. Their innovative solution enables a smooth and affordable transition of Web2 online merchants into immersive Web3 environments, seamlessly integrating with existing eCommerce websites.Annie Siara LinkedIn
Grace Warn, Head of Production - British Beauty Council
Grace heads up editorial content and special projects. Before joining the Council in 2022, she spent time at consumer titles including Marie Claire UK and Women's Health. She has a unique interest in the development of communications within beauty, particularly how the digital world can be incorporated seamlessly into IRL experiences.Grace Warn LinkedIn
Fiona Glen, Director of Projects - The Red Tree
With over 13 years' experience in global beauty retailing, Fiona has previously held senior UK and international buying roles for major retailers. In her current role she leads the strategic project function. This entails with a wide range of client and categories. Fiona has extensive retail experience across commercial and marketing functions at both strategic and implementation levels.Fiona Glen LinkedIn
Kamara Hakeem-Oyawoye, Brand Manager - The Red Tree
With diverse experience within the industry, Kamara has a unique perspective pertaining to the beauty space and the possibilities for the future. Pulling from her MSc Cosmetic Science degree, she leads on product development and metaverse projects within the company to pull together creative and impactful strategies.Kamara Hakeem-Oyawoye LinkedIn
How do I enter?
Complete the form below for a chance to win the competition and propel your brand forward.
Questions? Please email email@example.com
"*" indicates required fields
Terms and Conditions
- The winner must complete the onboarding process within 14 working days of being announced. Failure to do so will result in the prize being offered to the second runner-up.
- Brands may be required to share information on the user engagement of their ecommerce website.
- The winning brands’ name and logo(s) will be used for promotional purposes within The Red Tree and ONEWAYX marketing materials.
- Agreement to participate in PR activities and the brand may be used as a case study by ONEWAYX and The Red Tree.
Please note that these terms are subject to review and may change.