Gucci Vault is set up on a purchased virtual land in The Sandbox

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On Wednesday, Gucci announced its purchase of an undisclosed quantity of virtual land in the decentralized blockchain game The Sandbox. The brand will use The Sandbox to develop themed experiences based on its “Gucci Vault” platform. Which sells Gucci-themed NFTs and antique bags.

Gucci will provide fashion products for Sandbox players to purchase and wear in the game’s virtual world, in addition to a fashion-focused metaverse region.

The high-end retailer will also sell virtual products that gamers may use in the game. Gucci is reaffirming its dedication to the metaverse.

The clothing brand said on Wednesday that it has purchased an undisclosed quantity of virtual land on The Sandbox. Gucci will use The Sandbox to develop themed experiences based on its “Gucci Vault” platform. Which sells Gucci-themed NFTs and antique bags.

Gucci will provide fashion products that Sandbox players may purchase and wear in the game’s virtual world, in addition to a fashion-centric metaverse.

“Virtual fashion is as vital as real fashion for a new generation of gamers,” said Sebastien Borget, COO and co-founder of The Sandbox, in a statement.

Gucci isn’t the first brand to license virtual clothing. In December 2020, the brand will launch an official wearable collection in collaboration with two Roblox developers. Indeed, the Gucci Garden Experience is a virtual area on Roblox. Notably, some Roblox items were scalped and resold for thousands of dollars, at prices equal to genuine Gucci handbags.

The Sandbox, on the other hand, is a crypto-focused site, unlike Roblox. The SAND currency is used to acquire virtual land and things, and the game is developed on the Ethereum network. However, The Sandbox is no stranger to exorbitant virtual values, with buyers paying hundreds of thousands of dollars for virtual real estate near celebrities’ virtual properties.

Gucci, the first luxury brand to establish an NFT, continues to invest in decentralized platforms and assets. Furthermore, it shows no indications of slowing down when it comes to growing into the Web3 realm.

Source: https://metanews.com/gucci-vault-is-set-up-on-a-purchased-virtual-land-in-the-sandbox/

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