Gucci buys virtual land on The Sandbox metaverse under the directive, Gucci Vault | Source: Hypebeast

Gucci Expands Metaverse Presence on The Sandbox

Luxury fashion house Gucci has announced its purchasing of land in The Sandbox (SAND) Metaverse, in order to create an “interactive fashion experience” for consumers.

In a move aimed at engaging its Gen Z market, Gucci has revealed an undisclosed amount of land has been purchased on The Sand. The Sandbox is a part of the growing crypto Metaverse in which users can monetize and market their own non-fungible tokens or NFTs.

What will Gucci do with the purchased land?

Under the oversight of creative director, Alessandro Michele, the land is set to become a space for discourse surrounding “fashion and the metaverse”. How this will play out in reality, or virtual reality, is yet to be revealed, although Michele is quoted as being inspired by “childhood memories of the search for beauty.”

The land will reportedly allow users to purchase virtual Gucci fashion items and may also include a maze.

The online experience is launched on the basis of Gucci Vault, the umbrella label for the brand’s metaverse estate. Gucci Vault is also responsible for selling vintage pieces of clothing from a range of creatives including Fraser Hamilton, Rave Review and Mondo Mondo.

A social media campaign for Gucci Vault has already begun, with a dedicated Instagram page launched on February 9th of this year, as well as TikTok videos and Twitter announcements.

@gucci

New wonders, exclusively on Vault. #GucciVault

♬ suono originale – Gucci

However, the metaverse marketing strategy is no stranger to luxury brands.

The NFT x luxury brand realm is a growing phenomenon with untapped potential, as stated by Jing Dan’s Market Report: NFT Collaboration: Luxury’s Metaverse Opportunity, released on 22 February 2022.

The report inferred the common notion of exclusivity that exists in the market for high-end brands and in the market for crypto-assets.

From Balenciaga to Louis Vitton, the virtual reality of these brands is ever-expanding. Prada and Adidas recently released a joint NFT project under the former Re-Nylon collection.

The realm exists as a consequence of work between crypto-billionaires and artists, making way for new avenues for consumers to access their favourite high-end brands.

Alessandro Michele described the potential of the metaverse to transform fashion from more than its traditional origins.

Fashion has become more than a boutique along the street in a capital. I think we are in a phase when maybe the world wants to go beyond the industrialised revolution and doesn’t know how to do it. Especially now, in this phase of the pandemic, it is a big chance to accelerate changes.

Gucci Creative Director, Alessandro Michele.
A Twitter announcement

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