Gucci Metaverse: Why It Bought Sandbox Land

These days we're seeing another brand step into the Metaverse world every day. One more name to join those brands is Gucci. Unlike other brands, what will Gucci do in the Metaverse? What kind of step did it take? You can read the details in our article.

What Will Gucci Do in the Metaverse? Did It Buy Land From The Sandbox?

Gucci is doubling down on its commitment to the metaverse. The designer fashion brand announced that it purchased an undisclosed amount of virtual land in the decentralized blockchain game The Sandbox. Drawing inspiration from "Gucci Vault", its platform that lists items such as Gucci-themed NFTs and vintage bags, Gucci will create themed experiences on The Sandbox. In addition to a fashion-focused metaverse space, Gucci will also release fashion items for Sandbox players to buy and wear in the game's virtual reality. The Sandbox's COO and co-founder Sebastien Borget said in a statement, "For the next generation of gamers, virtual fashion is as important as real-life fashion."

Crafting the future, pixel by pixel. Vault is building its own virtual world on @TheSandboxGame. Discover more https://t.co/wEUMFPiNsg #GucciVault pic.twitter.com/GVW1mpyJQC

— gucci (@gucci) February 9, 2022

This isn't the first product Gucci has licensed for virtual clothing. Back in December 2020, it partnered with two Roblox developers to release an official clothing collection. Gucci also created a virtual space on Roblox called "Gucci Garden Experience". Notably, some of the Roblox items resold for thousands of dollars, at prices comparable to real Gucci bags. However, unlike Roblox, The Sandbox is explicitly a crypto-focused platform. Users must use the SAND token to buy virtual land and items, and the game itself is built on the Ethereum network. That said, The Sandbox is no stranger to wild prices for virtual things either, with buyers selling virtual real estate near celebrities' virtual land for hundreds of thousands of dollars. Having made a name for itself in crypto as the first luxury brand to release an NFT (a type of token used to show ownership of digital items), Gucci keeps investing in decentralized platforms and assets and shows no sign of slowing down. It's moving to expand into the Web3 world.