during February gucci announced the purchase of land in sandbox metaverse and yesterday it launched its first event.of gucci vault land The event is available for two weeks, ending November 9th.
At the same time, Gucci launched eight voxel digital collectible apparel items available in The Sandbox. Or, as Gucci said, “In the experience, Vault presents a selection of digital collections to represent the ongoing pursuit of priceless wonders.”
Additionally, existing owners of Gucci Vault NFTs such as SUPERGUCCI will receive a special Aura NFT wearable.
Fashion Business Opportunities in the Metaverse
A step back, an experiment in progress fashion brand It’s hardly surprising in the metaverse. Fashion, especially luxury fashion, is a status symbol. Some people may wear it for themselves, but most people want to wear it to make an impression. Right now, no one sees you when you use social media. But over time, social media may move into the metaverse. Therefore, how you dress your avatar becomes important.
People spend nearly two and a half hours a day on social media, according to the latest research. This is considerably more time than they spend on his IRL socializing. Naturally, in the future, people may choose to spend more money dressing up their avatars than themselves.
Morgan Stanley expects luxury goods to grow by 2030 game, metaverse When NFTs 10% of the market or a €50 billion ($50 billion) revenue opportunity. It’s also more profitable because you don’t have to physically manufacture and ship the goods.
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But so far, two things have influenced the fashion brands involved in the metaverse. First, there are only a few people in the Metaverse. for now. As such, Gucci doesn’t want to wander into Gucci’s vault when it’s mostly empty. The Sandbox also runs quests in-game to acquire Gucci Vault Boxes and keep people interested.
This isn’t Gucci’s first Metaverse experience.2 weeks last year gucci garden Event at Roblox.Also, Tennis Clash Game and Korean Zepet Chat apps and virtual worlds.
That brings us to our second challenge. Luxury fashion brands are known for being picky about the value and detail of their products. The sandbox is currently in voxel format (pixelated characters). In contrast, Zepeto and Roblox had much higher production values. To its credit, Gucci has managed to miss it and is happy to experiment.
And that’s not all. During New York Fashion Week, Council of Fashion Designers of America (CFDA) announced a collaboration with The Sandbox. In December, we are planning a Metaverse showcase that will include big name labels like Ralph Lauren, Donna Karan and Oscar de la Renta.
Meanwhile, these incumbents face competition. Web3 is notorious for being a major disruptor. If they wanted to, fashion brands should be able to easily embrace the metaverse and profit from it. But they definitely face web3 competition. for example, fabricant A new web3 fashion brand with Vogue as a client, Nike Acquires RTFKTIncumbents have millions of existing customers, but challengers are experts in building online communities and leveraging the web3 culture.
So brands like Gucci should be as willing to experiment as they have been in the past. The luxury house already has multiple non-fungible tokens (NFTs) collections under that belt, including collaborations with SuperPlastic super gucci.
