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Luxury fashion house Gucci opened a shop in the virtual environment through the blockchain-powered decentralized gaming metaverse, The Sandbox. The amount of the deal isn't known.
Gucci's virtual platform, Gucci Vault will provide an engaging fashion experience. The space is visualized by the creative director of Gucci, Alessandro Michele. On Gucci Vault, users will be able to buy, own, and use metaverse fashion items created by Gucci designers.
Earlier, in January, the popular brand announced a collaboration with digital character brand Superplastic to release a SuperGucci NFT collection, which is a three-part series of limited NFTs.
The metaverse platforms have attracted interest from various companies representing different industries. The number of partnerships between organizations and blockchain-based metaverse protocols such as the Sandbox, and Decentraland has been growing.
Among The Sandbox's partners are Warner Music Group, Adidas, The Walking Dead, The Smurfs, and others. The platform's native token, SAND currently trades at $4.72, and it has a market cap of over $4.8 billion.