Gucci Buys Property In Ethereum Metaverse Game.

Gucci Buys Property In Ethereum Metaverse Game.

2022-02-10 | Eddy Morgan

Gucci Buys Property In Ethereum Metaverse Game.

Gucci is increasing its dedication to the metaverse. On Wednesday, the designer apparel company revealed that it has purchased an unknown quantity of virtual land in the decentralized blockchain gaming The Sandbox. Gucci would offer tailored adventures for The Sandbox based on its "Gucci Vault" platform, which sells Gucci-inspired NFTs and antique bags.

Gucci would provide fashion products for Sandbox users to buy and flaunt in the game's virtual world, in conjunction with a fashion-focused metaverse region.

This is not the inaugural time Gucci has licensed merchandise for virtual wear. It earlier announced a collaboration with two Roblox developers to launch an authorized apparel collection in December 2020. Gucci has produced a Roblox virtual area dubbed the "Gucci Garden Experience."

The Sandbox, on the other hand, is a cryptocurrency-focused platform, as opposed to Roblox. Customers need to use the SAND token to acquire virtual land and things, and the game is developed on the Ethereum network. Having stated that, The Sandbox is not a newbie to exorbitant costs for virtual items, with purchasers paying hundreds of thousands of dollars for digital real estate surrounding stars' virtual land.

Gucci, which created a reputation for itself in cryptocurrency by becoming the inaugural luxury brand to issue an NFT—a sort of currency intended to represent ownership of digital items—keeps on investing in decentralized platforms and assets, and it exhibits no indications of easing down in terms of Web3 expansion.

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