Gucci Buys Virtual Land on The Sandbox to Develop Fashion Experience

Gucci, the luxury fashion house has purchased some land on The Sandbox, a digital world platform.  The move will allow the fashion company to develop virtual fashion experiences for customers. However, how much the fashion brand spent to acquire the digital land rights is not yet available. The Sandbox informed Vogue Business, which broke the news first that the venue is aimed to stimulate discussions on the future of fashion and the metaverse.  Gucci will offer digital fashion experiences based on the brand's metaverse projects in The Sandbox, which are housed in Gucci Vault. Gucci has been a pioneer in the fashion industry's move into cryptocurrency. It was the first premium brand to auction an NFT through Christie's in May 2021. Gucci's Roblox experience also gained notice after someone spent over $4000 on a Gucci bag, which is around $1000 more than the bag's real-world value.  The company is expanding its presence in the metaverse by hiring a manager for its Discord server. This person will be in charge of overseeing fans of its NFT initiatives and must have ‘experience with community building and managing crypto communities