Gucci Vault Opens In The Sandbox, Bringing Luxury Fashion Into The Metaverse - Forbes

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From October 27 to November 9, the Vault will open on Gucci’s land, welcoming all players to ... [+] explore.

Gucci Vault

Gucci is the first luxury brand to build its own space within the digital real estate platform The Sandbox, cementing its place as a first mover in the metaverse.

The experimental concept store Gucci Vault Land will be available from October 27 to November 9. Players can experience the Vault at 360° through a play-to-know narrative and complete activities for a chance to win an exclusive reward and SAND—the utility token or currency of The Sandbox built on the Ethereum ETH blockchain.

Envisioned by the Creative Director Alessandro Michele, the Vault represents a careful curation of rare vintage Gucci pieces, the dialogues between contemporary creators and the House, and the enthusiasm for NFT artworks, combining these different facets with the power of community.

The ultimate goal of this effort is to educate the Web3 community on Gucci’s heritage via gamification.

Gucci opened the doors to its Vault to everyone—no NFT or ticket required. Users can start in the “Garden of Curiosities” and wander through a grand entrance hall where the adventure unfolds across a series of rooms, each designed around the brand’s story.

For example, Guests can restore a vintage Gucci bag in the Vault Vintage Lab or crack a riddle in the Vault Room of Rhyme.

There are also digital collectibles, from hats to skate ramps and even a car—each envisioned as a showpiece for owners to display proudly in their own lands.

Additionally, as a bonus for Gucci Vault’s community, those with a Gucci Vault NFT in their crypto wallets (such as the SUPERGUCCI or Gucci Grail), receive a Gucci Vault Aura collectible: a piece of wearable fashion for avatars within The Sandbox.

The Vault will encompass all of Gucci’s Web3 efforts under one umbrella, but this is not the first time the luxury brand is making a bold move toward the metaverse. Gucci was the first luxury brand to launch an NFT in May 2021 and introduced Gucci Garden on the metaverse as well as within the gaming platform Roblox.

The recent appointment of Robert Triefus as the CEO of Gucci Vault and Metaverse Ventures is one more indicator of Gucci’s determination to scale its metaverse efforts and expand its virtual experiences.

But Gucci isn’t alone in these efforts. Other luxury fashion brands are ramping up their investments in metaverse and Web3 technologies as well. Despite Forrester’s predictions the NFT and metaverse hype will cool off in 2023, some of the biggest names in the fashion industry continue to double down on their digital efforts.

Dolce & Gabbana’s nine-piece NFT collection set a record of nearly $6 million, Burberry has an NFT collection in Mythical Games’ Blankos Block Party blockchain game, and the Balmain and Barbie partnership features ready-to-wear pieces, accessories, and exclusive NFTs.

According to Statista, the global Metaverse market will be worth $47.48B in 2022, and it’s expected to surge to $678.8 billion by 2030.

On this note, Meta is still betting heavily on the rise of the metaverse, adding an Avatar Store on Instagram, Facebook, and Messenger, where users can buy digital clothes to style their avatars.

Balenciaga, Thom Browne, and Prada are the first three designers to partner with Meta on the digital fashion experience, which is expected to be available soon in VR.

According to Carol Hilsum, senior director of product innovation at Farfetch FTCH , the metaverse is the next stage for luxury shopping. This explains why fashion brands are in a mad dash to plant their digital seeds in the metaverse and futureproof their business.

From creating exclusive, personalized experiences for their communities and tailoring unique loyalty programs to selling digital assets and building excitement for a new product launch, forward-thinking brands are slowly setting the foundation for the future of the fashion industry.

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