Luxury fashion brand Gucci is taking some quick steps when it comes to adopting new technologies like the Metaverse. After moving into the world of NFTs last year, Gucci decides to enter the world of metaverse by buying digital real estate on the Sandbox platform.
This move by the luxury brand is specifically aimed at boosting its Gen-Z-focused platform Gucci Vault. As reported by Vogue, Gucci has purchased real estate on The Sandbox for an undisclosed amount. Based on Gucci Vault, the luxury brand will partner with Sandbox to create interactive fashion experiences.
However, Gucci has not yet revealed many details about the project. Citing The Sandbox, Vogue Business reported that Gucci designers will create a number of select Metaverse items that will allow users to purchase, own, and use these assets in their own Sandbox experiences.
The Sandbox also noted that the space “will be inspired by childhood memories of the quest for beauty, which will take you to Gucci Maze” and foster conversations about the future of fashion in the metaverse.
The Gucci Vault and Metaverse Ambitions
The Gucci Vault serves as an umbrella for all of the company’s metaverse-related projects, including NFTs and the discord server. It’s that area where Gucci sells some of its vintage pieces, as well as pieces from some of the up-and-coming designers like Rave Review and Ahluwalia, and Collina Strada.
As mentioned, Gucci has quickly caught up with the latest trend of digital fashion. Recently, the luxury fashion brand has also entered into a partnership with the company Superplastic, the company ‘animated celebrities’. Together they will create a collection of 500 NFTs called “Supergucci”.
As part of this new project, Gucci will perform a three-part drop of NFTs featuring ceramic sculptures, each priced at 1.5 Ethereum. The brand added that Superplastic and Gucci will keep 20 NFTs from this entire collection for internal use.
Brands from different sectors have participated in the Metaverse. Recently, we saw entertainment giant Disney announce its Metaverse plans. In addition, luxury car makers such as Ferrari and Lamborghini have also announced their Metaverse and NFT plans.
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About the author
Bhushan is a FinTech enthusiast and has a good flair in understanding financial markets. His interest in economics and finance draws his attention to the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his spare time, he reads thriller-fiction novels and sometimes explores his culinary skills.
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