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- Gucci, the luxury fashion brand, has purchased some land on The Sandbox, a digital world platform.
- Gucci will also release trendy products for Sandbox gamers.
- Gucci will provide fashion products for Sandbox players to purchase and wear in the game’s virtual world, in addition to a fashion-focused metaverse region.
The designer apparel brand said on Wednesday that it has purchased an undisclosed quantity of virtual land in the decentralized blockchain game platform, The Sandbox. Gucci will offer themed experiences for The Sandbox based on its “Gucci Vault” platform, which sells Gucci-themed NFTs and antique bags.
Community building and managing
Gucci has been at the forefront of fashion firms embracing cryptocurrency. It was the first premium brand to introduce an NFT auctioned through Christie’s in May 2021. Gucci’s experience on Roblox also gained notice after someone spent over $4000 on a Gucci bag – around $1000 more than the bag’s real-world value.
The company is expanding its presence in the metaverse by recruiting a manager for its Discord server, who will be in charge of overseeing fans of its NFT projects and will need “experience with community building and managing crypto communities.”
Time to change the fashion industry
The move will allow the fashion company to develop virtual fashion experiences for consumers, however, details on what those experiences would include and how much the fashion brand invested to get the digital land rights are not yet public.
The Sandbox informed Vogue Business, which broke the news first, that the venue is intended to stimulate talks about the future of fashion and the metaverse. Gucci will offer digital fashion experiences based on the brand’s metaverse projects, which are housed in the Gucci Vault.
The Block reached out to The Sandbox for comment on the Gucci announcement but did not receive a response by press time.
The change will enable the fashion label to develop virtual fashion experiences. However, no information on what that experience will involve has been made public, nor has the amount of money invested by the fashion company in acquiring the digital land rights.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
