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Meta partnered with L’Oreal makeup and HEC Paris to support a new startup accelerator program that fosters creativity in the metaverse. Big tech companies have found that accelerators and incubators are a helpful way to gain a glimpse into the emerging web3 industry.

As part of its new accelerator program for metaverse creativity, Meta, the tech giant in partnership with L’Oreal and HEC Paris, has launched a new program.

It is hoped that the program will help businesses that specialize in 3D production, AR and VR mixed reality, avatar creation, portability of user experiences, or other topics related to the metaverse and web3. Participation is expected to include at least five businesses.

The accelerator program will open in Jan 2023 and end in June 2023

The project will be hosted by the social media company, which reports earnings this week. Station F is a Paris startup campus. The program will be open from January 2023 through June 2023, with the successful applicants granted access to mentors or experts to help them build their businesses.

Big tech companies have found that accelerators and incubators are a worthwhile way to gain a glimpse into the emerging web3 industry. AWS opened applications in July for fintech startup accelerators.

Meta has already tried its hand in the metaverse fashion waters. In July, it partnered with DressX digital fashion startup to offer updated avatar fashion looks on Meta’s Avatar Store. The company announced earlier this year that it would launch an online fashion marketplace with partnerships with Balenciaga and Prada.

L’Oreal and Meta will not focus on fashion in their accelerator, but the industry has generally accepted the potential of the web3. Gucci joined SuperRare’s first autonomous decentralized organization earlier this year. Burberry launched a web3-game.

The post L’Oréal Partner With Meta to Lead Innovation in The Metaverse first appeared on The Daily Encrypt.



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Angie Byrd