- In partnership with Superplastic, Gucci has launched a virtual experimental space called Vault and is its course of the experiment for entering metaverse. Superplastic has also created an NFT series for Gucci.
- The NFT series is a set of 10 #SUPERGUCCI, as mentioned by Gucci. However, Gucci has already been involved with NFT activities as it launched its Gucci Aria NFT in June 2021.
- Vault is a virtual online ecosystem that would be based on an online store concept and could be considered as a fashion house museum with a wide variety of assortments.
It appears that fashion houses all around the world have discovered an underlying link to NFTs. Gucci has made his way in the ranks, again, this week, with the introduction of a new collaboration release. Burberry was one of the first designer companies to enter the NFT market back in August 2021. Gucci, on the other hand, had their first taste of NFTs much before that story. Gucci has now doubled down on its activities, and being in partnership with Superplastic, it has launched Vault, an experimental online ecosystem.
#SUPERGUCCI, as mentioned by Gucci, is the brand’s first-ever collaborative exploration for NFTs and this new NFT series is a set of ten #SUPERGUCCI. Gucci, in a tweet, said that this set of NFTs in the new series had been created by Superplastic, and they represent a perceptive course of experimentation inside the metaverse.
Earlier Steps Of Gucci Towards NFTs
Although, as mentioned earlier, this isn’t Gucci’s first step in the metaverse and NFT ecosystem. Around June 2021, Gucci created and launched its first-ever NFT, which was named Gucci Aria NFT, being worth $25,000 at Sotheby’s. This NFT release is a bit different from the earlier released NFTs as Gucci took a different approach this time, details hint it as a store based on the online concept.
Talking about the Vault platform, it has been explained as being in a constant evolution stage with customized and restored archive pages being displayed simultaneously with a choice of various items from other brands. Consider Vault as a virtual museum of fashion houses with a wide variety of assortments.
Aside from Burberry, fashion and apparel businesses have been entering and exploring the market on a regular basis. Gucci’s key competitors, Louis Vuitton, Dolce & Gabbana, and Dior, have all participated in blockchain and NFT projects in some form, while more traditional garment companies, such as Adidas and Gap, have recently made news with their crypto involvement.
Other Brands Working Towards NFTs & Metaverse
Gap has recently made headlines for becoming the first major apparel company to release NFTs, launching a ‘gamified NFT collection’ with exclusive, limited-edition products for collectors using the Tezos network.
Of course, not all businesses have been sympathetic to the idea of NFTs, Hermes, in particular, has been highlighted as a brand that has been dissatisfied with a designer who has imitated their brand image. Hermes is apparently concerned about IP and trademark breaches with NFT developer Mason Rothschild’s MetaBirkins, as earlier reported in the December issue of NFTs. Fashion companies, regardless of their position in the market, are certainly discovering a new approach to interact with consumers, however, the brief viability and interaction levels that NFTs would be able to experience with these customers remain to be witnessed.