Gucci Ventures Into the MetaverseThe experience would feature a space called 'Gucci Vault Land' for its customers to witness the brand's history through games and NFTs
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Gucci, an Italian fashion brand, is the first luxury brand to host its own metaverse experience in The Sandbox.
The experience would feature a space called 'Gucci Vault Land' for its customers to witness the brand's history through games and NFTs.
This comes at a time when fashion brands are entering the metaverse. Nike was the most recent entrant in the metaverse with luxury brands like Prada and Balenciaga are also getting into the online-only clothing game.
Metaverse has become a buzz word with millions of people joining in on the trend. Metaverse is a 3D virtual immersive space that enables users to build interactive experiences that combine virtual and real worlds. Metaverse gives people a 3D immersive experience of not only human interactions but also of products and services.
According to a prediction by investment bank Morgan Stanley, digital fashion could increase the industry's sale by $50 billion by 2030.
Gucci became the first luxury brand to launch an NFT. The brand also launched Gucci garden Experience on Roblox in May last year. Gucci's initiative is a part of a trend of major brands on the opportunity to boost the sale of physical goods as well as selling virtual versions of its products in the metaverse.
