NFTs Are Now Arriving At Gucci
Gucci joins the growing list of companies entering the Metaverse. Read to see what they’re doing and how it impacts physical and online reselling.
Gucci is the latest big-name company to make preliminary moves to begin an entrance to the Metaverse. They have partnered with SUPERPLASTIC, the world’s top creator of animated celebs, vinyl toys & digital collectibles. Keep reading to see what Gucci has in store.
What Did Gucci Do?
Gucci announced last week that they have made investments in the Sandbox Metaverse. What is the Sandbox Metaverse? It’s an Ethereum-based NFT metaverse that enables non-tech savvy users to create, sell, and use their own virtual reality NFTs.
This isn’t Gucci’s first move in the digital world as they partnered with SUPERPLASTIC in January and released their first NFT project, SUPERGUCCI.
They released that project in 3 waves, each with ten different collectibles that were partnered with handmade sculptures designed by Gucci themselves. Tying NFTs to physical items is a theme that we’ve seen with companies such as StockX and Cult and Rain.
Since physical items are still going to be a massive part of the reselling world, we cannot recommend enough that you check out our Hypemaster Playbook to stay on top of the ever-changing and ever-growing world of reselling!
What is Gucci’s ‘Vault’?
In short, Gucci’s ‘Vault’ is an online, experimental concept store. It served as a retailer for Gucci’s collaboration with SUPERPLASTIC and you can expect it to become a much bigger part of Gucci’s online presence.
We’ve seen brands partner with design firms and other digital companies to push out NFT or other digital releases, but it is only a matter of time before they can push out their own products, in-house.
Gucci’s ‘Vault’ is a perfect example of a brand starting to lay down the foundations for their own Metaverse brands.
The ‘Vault’ itself is creatively directed by Alessandro Michele, an Italian fashion designer and creative director of Gucci since 2015.
Here is a photo of the online storefront:
So, What Does This Mean?
Gucci has always been a massive company, up there with the likes of Nike and Adidas in terms of popularity. While Gucci is in a different niche than those companies, focusing more on luxury items, a lot of their products still have some resell value.
If you haven’t at least done some research into NFTs and what they could mean for reselling, we would direct you to our guide on NFTs. If you have done some research, you’re a step ahead of most and are probably setting yourself up for success.
Whether you like it or not, this is the future. We’ve said it before and we’ll say it again. NFTs, the Metaverse, digital assets, and collectibles, are all going to be in play in the next 5 years.
And if you want to be on top of the game, you’re going to need to dedicate time and effort to learn about what’s actually happening.
Frequently Asked Questions
What is Gucci?
Gucci is an Italian high-end luxury fashion house based in Florence, Italy. Its product lines include handbags, ready-to-wear, footwear, and accessories, makeup, fragrances, and home decoration.
What are NFTs?
NFT stands for a non-fungible token, which basically means that it’s a one-of-a-kind digital asset that belongs to you and you only. The most popular NFTs right now include artwork and music but can also include videos and even tweets.
How do I buy NFTs?
Get started by visiting the OpenSea login page and connecting your crypto wallet. Visit your Profile where collected NFTs can be seen by members of the community. Profile pages track your favorite NFTs and marketplace activity. Now you’re prepared to browse through the marketplace and potentially make a purchase.