[REVIEW] : Metaverse: Gucci joins the virtual world The Sandbox!

By buying a plot in the metaverse The Sandbox, Gucci seeks to establish its digital sales strategy. A method that should allow the Italian brand to sell its products much more easily in the form of NFT.

The Gucci Vault Concept Exported To The Metaverse

It was through a tweet and a short 14-second video that the Italian luxury brand announced its foray into the metaverse. An entry into the virtual world that responds to a very real strategy: to offer users a space dedicated to fashion while drawing inspiration from what has been set up for Gucci Vault, a concept store that allows you to buy pieces unique and historic of the Italian brand.

If we know that Gucci is now the owner of land in The Sandbox universe, the size of it has not been communicated. Gucci’s entry through the great door of the metaverse also responds to its desire to present and sell its products in the form of NFTs. Thus, players who interact with The Sandbox platform will be able to wear Gucci NFTs to their avatars!

The Sandbox Attracts Big Brands

Gucci today, Ubisoft or even Adidas yesterday, the brands do not want to miss the turn of the metaverse. And to afford maximum visibility, these brands have all chosen The Sandbox. This was also the case for Warner, which joined the French metaverse platform to create the first virtual world entirely dedicated to music. A partnership of crucial importance for The Sandbox when we know that Warner Music Group is one of the strongholds of the music industry.

If brands are starting to invest in the metaverse, some are not yet sure of the strategy to adopt. This is the case, for example, of the retail giant Carrefour, which also has a virtual plot on The Sandbox. A field that is not the subject of any ambition displayed for the moment, a sign of a sector that is only in its infancy as far as outlets are concerned.

In the years to come, this market could be largely dominated by The Sandbox and Decentraland. In order to continue to expand its dominant position, the French start-up recently launched an incubator. This one aims to develop the metaverse via other companies. For this axis of development, the promoters of the project could invest 50 million dollars.

What Impact On The SAND Token?

The announcement made by Gucci on February 9 ultimately had little impact on the price of the SAND token. During the day, the token remained quite stable. Over the past 24 hours, the token is dropping 4.30%. If we consider the last 7 days, the trend is still largely positive: +19.5%, in a market context that seems to be getting back on track.

If we consider the prediction platforms, these seem to give some credence to The Sandbox project. Thus, the algorithms of WalletInvestor estimate that the token could see its price triple during the course of the year to exceed the threshold of 12 dollars. An optimism also shared by DigitalCoinPrice or by the TradingBeasts platform.

Gucci launches a store in the Metaverse

Provide a great interactive experience to customers

According to sources, the Gucci brand has acquired several lands from The Sandbox with the aim of creating new services for the benefit of its customers. They will be able to take advantage of a nice interactive experience which will be possible thanks to Gucci Vault, Gucci’s new store in the metaverse.

That said, Gucci Vault is not just a boutique. It’s also a space designed by Alessandro Michele, Gucci’s creative director, to hold other products, including NFTs and items found on the brand’s Discord server.

Gucci joins several other recognized brands

At this time, Gucci has not provided any additional information about the virtual world it is building. However, she clarified on Discord that her teams have been working for several months on the implementation of various options for optimize the immersive experience on The Sandbox. Anyway, the Italian brand thus joins other brands that have embarked on the metaverse: Adidas, Warner Music and Bored Ape Yacht Club.

Obviously, brands don’t want to stay on the sidelines of the ongoing fashion and metaverse revolution. During the previous month, Adidas Originals and Prada announced a collaboration, the Adidas for Prada Re-Nylon collection, in the Metaverse. On the side of Gucci, in addition to the launch of a store in the metaverse, it presents itself as the first luxury brand to have trusted NFTs.

Metavers: the fashion industry is shifting into high gear

Still a vague concept for most men and women around the world, the metaverse has long seduced fashion players, who have understood the full potential of these parallel worlds. This set of virtual worlds, which some define as the future of the Internet – or the Internet of the future – are none other than online spaces where users can socialize, have fun, and above all consume.

Mark Zuckerberg sees even further. When announcing the change of name from Facebook to Meta, the billionaire, or should we say his digital twin – understand virtual twin, presented a vision of the future akin to a science fiction film. Conferences, concerts, shopping malls… Everything would now take place in these parallel worlds, accessible via an augmented reality headset. Creepy for some, fun for others, already deeply rooted in these universes through gaming.

Gucci buys virtual land on The Sandbox, entering the metaverse

Gucci has made its official entry into the metaverse by purchasing virtual land on The Sandbox, making it the latest of the big fashion brands to explore the digital space of the future.

The announcement was made by Gucci on its official Twitter account as well as its Discord group, which currently has 73,000 members.

The purchase allows Gucci to create its virtual concept store and experience within the Metaverse with an eye on Gen Z, who are the most active on the increasingly expanding Metaverse.

Gucci on the sandbox

The Sandbox is a virtual world built on the Ethereum blockchain.

As part of its plans for The Sandbox, Gucci will revamp its Gucci Vault to cater to the digital world and transform it into a more interactive experience.

“Vault is defined by an ever-changing selection of rare vintage pieces alongside notable designer collections dear to #AlessandroMichele,” reads the post, which also comes with a link to the Gucci Vault on the official site.

It’s not immediately clear what exactly the Gucci Vault will offer on The Sandbox. But being a game, players in The Sandbox can expect to purchase Gucci merchandise for their digital avatars, such as unique digital clothing.

Gucci in the NFT space

Gucci was also the first luxury fashion brand to launch an NFT when it auctioned a four-minute film inspired by ‘Gucci Aria’ on Christie’s in May 2021. The same month it launched the Gucci Garden Experience on Roblox.