Luxury fashion brand Gucci is finally coming to a metaverse near you.
The Italian high-end brand has announced the purchase of Land in The Sandbox metaverse, where it plans to build its own world.
The purchase is in line with their Gucci Vault project, which among other things does NFT collaborations. It describes itself as an ‘experimental online space’ merging the past, present and future through imagination.
For a fashion house that has in the past carried the ‘conservative’ tag, it is a great leap in re-inventing itself. It was the first luxury brand to introduce and auction an NFT, which led to its rivals doing the same.
In 2020, the brand held a two-week virtual experience on Roblox, where they featured a store, exhibition spaces and limited-edition avatars. Sales of digital collectibles surpassed those of physical items, which may have motivated the company to go big on NFTs and the metaverse.
We will be on the look out as to what Gucci develops on their new prime real estate.