Technology

JCK Keynote Guides Attendees Through the Metaverse

TechnologyJun 13, 2022

JCK Keynote Guides Attendees Through the Metaverse

Speaker Swan Sit delved into several buzzworthy topics, like blockchain and NFTs.

20220611_Swan Sit.jpg
For the JCK opening keynote, speaker Swan Sit opined on the metaverse.
Las Vegas—The metaverse is arguably the retail buzzword of the year.
 
JCK’s keynote Friday morning, titled “Web3 is Coming—Navigating the Past, Present, and Future of Retail,” was led by speaker Swan Sit.
 
Sit is the former global head of digital marketing at Nike, Estée Lauder, and Revlon.
 
She took a deep dive into hot topics like Web3, blockchain, and NFTs, but centered the conversation around using these tools to build a community and creating brand loyalty.
 
“Web1 was ‘go look at the dot-com site.’ Web2 was social, where you can look and comment back. But Web3 is a collaborative conversation we’re moving into,” she said.
 
Looking to explain a complex topic in a more accessible way, Sit shared several anecdotes throughout this session, but one about her work with beauty brand Elizabeth Arden was a standout.
 
Unlike on-trend beauty brands—think Glossier and Charlotte Tilbury—Elizabeth Arden was a brand one could find on their grandmother’s vanity.
 
Turning it cool and Insta-worthy was a tall order and Sit said she put her career on the line by taking some risks to make the brand more relevant.
 
As it turns out, Elizabeth Arden’s founder and namesake was ahead of her time in some respects. She was a women’s right activist and marched with the suffragettes. She created a “Victory Red” lipstick in the 1940s for women in the military. She was also the first woman to be featured on the cover of Time magazine.
 
Arden died in 1966 but Sit brought her back to life in a digital form, revamping the brand’s Instagram to show posts from Arden’s first-person perspective, as if she were alive today.
 
She recruited “friends” for Elizabeth Arden, like comedian Chelsea Handler and fashion icon Iris Apfel.
 
Sit’s risk paid off, with Elizabeth Arden posting growth for ten consecutive quarters following the campaign. The brand was later bought by Revlon.
 
Elizabeth Arden’s products were always present in the campaign’s photos and videos, but they were secondary to the conversations between “Liz” and her friends.
 
“If we’re lucky enough to build a community that grows, treating them like a community and not followers is a really massive difference,” said Sit. “It’s becoming a two-way street.”
 
The point of the campaign wasn’t to push product, but to connect to the audience using a digital medium. The opportunities to do that will likely only increase as metaverse technology continues to flourish.
 
 Related stories will be right here … 
 
Sit reminded the audience that while the term “metaverse” is new, the idea of a digital world a user can walk around in is as old as video games.
 
She recalled explaining the metaverse and what an avatar is to an older man at a social event. The conversation ended in embarrassment when he cut her off to say he knew exactly what an avatar was, because he was the creator of the popular game “Second Life,” which uses avatars to take players through a digital world.
 
Tech terms can throw non-tech-savvy people for a loop, however.
 
While the jewelry world may have a knack for marketing, said Sit, the tech industry isn’t as good at coming up with catchy terms to describe concepts like non-fungible tokens, or NFTs. 
 
She explained NFTs as “a unique record on blockchain.”
 
Even those who understand what an NFT is can have trouble wrapping their heads around the value prospect, though. An example is the Bored Ape Yacht Club, an NFT collection built on the Ethereum blockchain. It features pictures of cartoon apes, and they sell for millions of dollars.
 
“How could a jpeg be worth millions of dollars?” she posed to the audience. 
 
Then she asked those in attendance to open the camera roll on their phones and hold up a favorite photo.
 
Now, she said, imagine all of those photos, images of friends, family, pets, vacations, etc., just disappeared, and how upsetting that would be.
 
Non-tangible, digital-only images can hold enormous value, she concluded. 
 
Sit also discussed the opportunities available to the jewelry industry through these tech innovations, especially blockchain.
 
Authenticating luxury goods and following antique and estate jewelry from owner to owner were two interesting possibilities mentioned.
 
JCK offered another metaverse-focused session later that afternoon.
 
Oliver Maroney, general manager of Web3 and NFTs at Cameo, led a session titled “Relevance—NFTs & Web3.” 
 

The Latest

Windsor Jewelry in Indianapolis, Indiana
IndependentsFeb 06, 2025
106-Year-Old Jewelry Store Saved by New Owners

Two attorneys purchased Windsor Jewelry, which was set to close, and will retain all existing staff at the downtown Indianapolis store.

Two images of Adam Heyman in Sri Lanka
MajorsFeb 06, 2025
Oscar Heyman Employee Celebrates 60 Years With the Company

Adam Heyman joined the family business in 1965, just weeks after graduating from Columbia Business School.

De Beers Jewellers Embrace Bracelet
CollectionsFeb 06, 2025
De Beers Jewellers’ New High Jewelry Pays Homage to the Beauty of Trees

The “Essence of Nature, Chapter One” collection echoes trees and roots, literally and figuratively, through three sets of high jewelry.

Top Image.png
Brought to you by
3 Ways to Capitalize on America’s Newfound Love of Colored Gems

Colored stones are stepping into a jewelry spotlight typically reserved for diamonds—are you ready to sell color?

Hamilton Jewelers Worth Avenue interior
IndependentsFeb 06, 2025
Hamilton Jewelers Revamps Palm Beach Boutique

The fourth-generation, family-owned jeweler has given its Worth Avenue store a new look.

Weekly QuizFeb 06, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Stock image of a gavel
CrimeFeb 05, 2025
‘The Timepiece Gentleman’ Sentenced to 5-Plus Years Behind Bars

Luxury watch dealer Anthony Farrer pleaded guilty late last year to defrauding clients in a scheme with Ponzi-type elements.

Pandora sparkling bow necklace
FinancialsFeb 05, 2025
Pandora Posts Double-Digit Growth After Strong Holiday Season

In its full-year results, the retailer shared its 2025 outlook and an update on the global rollout of its lab-grown diamond collection.

Resolutions - 2025.jpg
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers

The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.

Seal & Scribe “Freedom Moon” Ring
TrendsFeb 05, 2025
Amanda’s Style File: Feeling Fabulous in February

Celebrate February birthstones and the gem shows in Arizona this month with a versatile stone like amethyst.

Diamond Council of America logo
MajorsFeb 05, 2025
DCA Promotes Kristen Scheetz to Director of Education, Membership

Scheetz has been with the nonprofit since 2007.

Trucks at the Orapa diamond mine in Botswana
SourcingFeb 04, 2025
New Deal With Botswana Is Done, De Beers Confirms

The agreement will allocate an increasing proportion of the country’s rough diamonds to the government of Botswana over the next decade.

Van Clef & Arpels Diane (Diana) Clip
Events & AwardsFeb 04, 2025
Van Cleef & Arpels’ Astronomy-Inspired Jewelry to Land at AMNH

“Cosmic Splendor: Jewelry From the Collections of Van Cleef & Arpels,” opens April 11 at the American Museum of Natural History.

Chocolate box ring by Mined + Found
SurveysFeb 04, 2025
Valentine’s Day Jewelry Spending Forecast to Hit Record High, Says NRF

Those celebrating Valentine’s Day this year are expected to spend a record $27.5 billion on jewels, flowers, candy, and more.

Lady Gaga Tiffany & Co.  necklace worn to the 2025 Grammys
EditorsFeb 03, 2025
Best Jewelry Moments From the 2025 Grammy Awards

From Lady Gaga’s 1930s Tiffany & Co. necklace to Taylor Swift’s “T,” Michelle Graff recaps the night’s most memorable jewelry looks.

HSN+ QVC+ logos on a television, laptop, and phone screen
MajorsFeb 03, 2025
Qurate to Close HSN’s Florida HQ Amid Restructuring

Layoffs will reportedly start next month as HSN plans to move into QVC’s location in Pennsylvania.

Jewelry designer Lauren Harwell Godfrey looking at colored gemstones
EditorsFeb 03, 2025
Q&A: 5 Jewelry Designers on Shopping the 2025 Tucson Gem Shows

A group of creatives talked to Associate Editor Lauren McLemore about their approach to the annual Tucson gem, mineral, and fossil shows.

Elizabeth Taylor diamond bracelet
AuctionsJan 31, 2025
Elizabeth Taylor’s Diamond Bracelet Outshines Estimate at U.K. Auction

The auction also featured the sale of a Cartier necklace made when Egyptomania was sweeping Great Britain.

Lalaounis Blossom Rosette charm
CollectionsJan 31, 2025
Piece of the Week: Lalaounis’ Good Luck Charm for 2025

The “Blossom Rosette” blooms with love, beauty, and hope for the year ahead.

Harvey Rovinsky, former owner of Bernie Robbins Jewelers
IndependentsJan 31, 2025
Harvey Rovinsky, Longtime Owner of Bernie Robbins Jewelers, Dies at 77

Rovinsky is remembered as a great mentor who made the employees of his stores feel like family.

Three diamonds in a row
Events & AwardsJan 31, 2025
Facets of Fire Has a Diamond Challenge for Retailers

For every jeweler who tries their luck, the company will make a donation to Jewelers for Children.

Women’s Jewelry Association logo
MajorsJan 30, 2025
WJA Chapter Leaders Resign as Fallout From DEI Remarks Snowballs

The boards of at least five chapters have resigned in response to controversial statements the WJA national board president made last month.

Jewelry writer and curator Melanie Grant
Policies & IssuesJan 30, 2025
RJC Executive Director Melanie Grant Is Stepping Down

An experienced jewelry writer and curator, Grant led the organization for two years.

Pharrell Williams and Tiffany Titan by Pharrell Williams Tahitian Pearl Necklace
CollectionsJan 30, 2025
Pharrell Williams Brings Tahitian Pearls to His New Tiffany & Co. Collection

Five new designs were added, all donning Tahitian cultured pearls and spear-like trident motifs, along with the new “Titan” setting.

Converge 2025 logo
Events & AwardsJan 30, 2025
Registration Open for Converge 2025

The inaugural event is being co-hosted by the American Gem Society and the Gemological Institute of America.

Annie Doresca, Jake Duneier, John W. Ford Sr., Margot Grinberg, and Ivette Stephanopoulos
MajorsJan 30, 2025
24 Karat Club of New York Elects 5 New Members

Jewelers of America’s Annie Doresca and AGTA CEO John W. Ford Sr. are among the new members.

Boucheron Scarabée Rhinocéros ring/brooch and Chardon necklace
CollectionsJan 29, 2025
Boucheron’s High Jewelry Takes the Form of ‘Untamed Nature’

The jeweler’s latest high jewelry collection looks into the Boucheron archives to create a “living encyclopedia of high jewelry.”

Elsa Peretti for Tiffany & Co. Bone Cuff
FinancialsJan 29, 2025
LVMH Watch, Jewelry Sales End the Year Down

Watch and jewelry sales slipped 3 percent in 2024, though the luxury conglomerate did see business pick up in the fourth quarter.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy