New World: Gucci’s Digital Push Advances With Another NFT Project and the Experimental Concept Store ‘Vault’ - The Scene

“New Tokyo” is the Italian brand’s new space in the metaverse.

For their latest metaverse collaboration, Gucci is launching non-fungible tokens under the project 10KTF. The NFTs titled “Gucci Grail” will be released on March 23, minted by the Ethereum blockchain. 

This comes after their February NFT drop in partnership with multimedia company SUPERPLASTIC, which members of their official Discord server saw first.

READ ALSO: Virtual Showcase: The Metaverse Will Have Its Own Official Fashion Week Complete With Shopping And Afterparties

Virtual land

Last month as well, the Italian house announced their acquisition of a “plot of land” in the metaverse platform Sandbox—where users can buy and develop virtual real estate. 

“Gucci and The Sandbox will collaborate to create an interactive fashion experience based on Vault, Gucci’s conceptual space and meeting place inspired by childhood memories of the search for beauty,” the brand has said.

The Gucci Vault, their experimental concept store, has a dedicated Instagram account and website. The digital push is from the vision of creative director Alessandro Michele. 

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A post shared by Gucci Vault (@guccivault)

“Vault is a meeting place where an impossible conversation becomes an inevitable one. Its ever-changing offering includes a careful curation of rare vintage Gucci pieces alongside exclusive capsule collections, limited-edition styles, and other items from a selection of brands, all dear to the creative director,” is written on the Gucci Vault’s website.

“And as it expands in all directions to push beyond the traditional and the purely transactional, Vault also acts as an emissary of Gucci’s presence within the metaverse, evolving by creating with the community.”

From Rome to Tokyo

Beyond NFTs, Gucci’s 10KTF project includes the virtual world “New Tokyo.” In a Tweet, the brand wrote, “in constant pursuit of precious wonders, #AlessandroMichele takes a trip from Rome to New Tokyo where he meets the famed digital artisan Wagmi-san from the @10KTFshop.” Wagmi-san is a fictional metaverse character created by the 101-year-old brand.

According to Vogue Business, even in the virtual world, Gucci implements the “luxury-level” exclusivity they maintain in physical reality. There’s a list of requirements written on 10KTF’s FAQ page before people can access the space. 

For example, there are only 5,000 “mint passes” you need to have before being eligible to buy NFTs.

 If you can’t obtain a pass (a number is already reserved for friends of Gucci and 10KTF), you can be eligible if you already own an NFT from previous projects. With the latter route, you must also pay 1 ETH or about $2,700. 

Banner photo from @Gucci on Twitter.

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