This is what the NFT hype smells like

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This is what the NFT hype smells like – Berlin beauty studio designs first crypto-perfume

The NFT version of the Cyber Eau de Parfum by Berlin studio Look Labs is now available for auction on Rarible.

Look Labs, an innovative beauty studio based in Berlin, has launched the first „crypto-perfume“, which is encoded in a Non-Fungible Token (NFT),. So the hype around crypto-art has also arrived in Germany.

The fragrance in question is a digital version of the perfume „Cyber Eau de Perfume“, which places a special emphasis on Immediate Edge sustainability and was released by Look Labs in October 2020. The associated NF token was developed in collaboration with Montreal-based artist Sean Caruso.

For this purpose, the scent of the Cyber Eau of Perfumes was „extracted via spectroscopy“ and incorporated into the crypto-artwork in the form of spectral data, as Look Labs explains.

Caruso states that the design of the NFT is in turn inspired by the packaging and bottle of the original perfume. To this effect, the artist elaborates:

„As for the NFT, I took inspiration from the packaging and bottle of the Cyber Eau de Perfume. For this, I created a photorealistic image of the bottle including the luminous label, represented the fragrance data as a colourful spectrogram and placed the whole thing on a Giger-style turntable.“

Only ten NFTs of the „crypto-perfume“ are up for auction on Rarible

Each buyer will also receive a physical version of the perfume, with the bottle featuring an OLED label that glows red at the touch of a button.

A real hype has developed around non-fungible tokens in recent months, with not only die-hard crypto fans infected, but now also the mainstream. However, some experts fear that the market is slowly overheating, because NFT platforms are literally flooded with money.

This is slowly diluting the market, which can be seen, for example, in the market capitalisation of the FLOW cryptocurrency from Dapper Labs. This recently reached astronomical heights of 41 billion US dollars. Dapper Labs is the development team behind Cryptokitties, one of the first notable NFT projects, and NBA Top Shot, one of the market-leading NFT platforms, but the valuation of the company’s own cryptocurrency is nevertheless probably too high.