Scents of wood travel to the metaverse with first scent NFT

The Scents of Wood Company launches the world’s first fragrance subscription available exclusively through the purchase of an NFT. Scents of Wood is a digital luxury fragrance brand inspired by trees and forests. Launched in the US and Canada in September 2020, the brand has broken the fragrance mold with its unique business model, which includes selling gender-neutral fragrances through subscriptions, exploring woody notes in all their diversity and subtlety over the course of one year.

The outstanding quality of Scents of Wood fragrances is supported by an exclusive creative collaboration with the perfumers at IFF. The high quality of the products has contributed to the success of the brand, said Fabrice Croisé, founder of Scents of Wood. Since its inception, Scents of Wood has challenged the status quo of the luxury fragrance industry with its subscription model, resulting in a brand whose sales are more than 90% digital – completely unheard of in the luxury fragrance industry. Croisé continues its tradition of innovation by expanding its digital brand into the Web3 and NFT space.

“I’ve been in the business for 30 years,” Croisé told me. “I started with L’Oreal, then I created a brand with an exit strategy in mind. This was to crack the digital code of luxury perfume. I had to be on the lookout for every idea in the digital world.”

Croisé, who works with a number of perfumers, said Scents of Wood will launch in France in September. “I’ve seen the Web3 growth,” he said. “How could we do something that would be meaningful to the fragrance industry. When we looked at an NFT and what NFT could be to the fragrance industry, we tried to understand how best to bring our product to the metaverse.

The vehicle for starting a Web3 business is a subscription model. “We wanted the tool. We wanted it to be a set. The NFT made us think about our actual model, which is subscription,” Croisé said. “It really creates a lot of scenery to create a subscription and an NFT. The perfumers were also excited. I give an NFT to every perfumer in the world.”

Croisé has been in contact with the Scents Web3 community via video calls. “It’s a community of fragrance,” he said, noting that 2,000 NFTs will be sold and 20 will be gifted. “We’re going to create this very vibrant community, which leads us to do a number of things we’ve never done before.”

For example, Scents of Wood will ask fans to name the perfumer they would like to see develop the next fragrance. “I’m really excited to see this,” Croisé said. “We like our community to vote on the allocation of funds. Are we going to launch in the US or open de facto shareholders for our company. They are going to be part of an experiment that has never been done before.

NFT tokens can be purchased with US credit cards, Croisé said, explaining that consumers can pick up NFT and if the cryptocurrency doesn’t go where “we think it will go, the customer will still receive their scent.”

Having to buy cryptocurrency can be complicated. “You have to transfer your currency and then you have to wait. We will explain this to people. If they want to sell it, we will do it for them. For the first purchase, Web3 users will receive a candle and perfume and check out with a credit card.

“The technical grip or education works two ways, the fragrance industry connects to NFT, and NFT also connects to the fragrance,” Croisé said. “Talk about the beauty of the art of fragrance.”

This is not the first subscription model Scents of Wood has launched. “It’s going to be a little bit different,” Croisé said. “Our monthly subscription lasts for a year and with that you get a candle and the fragrance. Instead of 12 deliveries of 10ml of the fragrances, the Web3 business will offer full size fragrances four times a year.

“We need time to allow voting,” Croisé explained. “We want to structure the relationship where we can organize conversations about the fragrances. It starts with four, and if the project takes off as we hope, then it will allow us to go to more than four. Who knows how many great ideas will be invented in the NFT world.”

Croisé said the business model will allow Scents of Wood to cater to the wishes of fans much better. “We’re giving ourselves a two-year runway,” he said. “Because it’s direct-to-consumer, I go live at 11:00 a.m. mountain time and get opinions and ideas and constant reiteration from Web3 users. I’ll spend two hours a day on one-on-one conversations with our customers and subscribers. »

Every six months, holders will be asked to vote on their choice of perfume for the next fragrance, making this the first case of creative crowd-sourcing in fragrance history. Holders will also be asked to vote on allocation of funds collected by NFT, or selection of ingredients and more. They will also have access to brand workshops and one-on-one conversations with perfumers during meetings – the first of which will be at ScentXplore in New York in December.

Croisé emphasized that the four fragrances are exclusive to NFT. “It will not be for sale on our website,” he said. “There are only 2,000 of them. If you’re an NFT holder, you can claim it and buy it. There’s extreme rarity behind the scents, and that will also add some interest to the project. I’m very intrigued by something that is as tactile as scent.

“My previous work was at Saks Fifth Avenue and Bergdorf Goodman, so it came from a very personal perspective,” he added. “The level of connection I have with my community today is superior to In Real Life, how much they know me and know the brand is superior to any counter at Saks. Even though you have your own staff and train them at the counters, digital is on a strangely more a close relationship than real life.”