Gucci digs deeper into the metaverse for upcoming NFT project
To become a Vogue Business member and receive the Technology Edit newsletter, Click here.
Gucci’s latest metaverse partnership is with 10KTF, an NFT project that includes a floating virtual world “New Tokyo”, fashion accessories for purchase by NFT owners with profile picture, and a fictional character called Wagmi-San, a game on the Web 3.0 phrase “wagmi”. , short for “we’re all going to get there”.
Gucci, through its experimental Gucci Vault spin-off brand, shared the first of the first details confirming the partnership with 10KTF on Twitter and Discord, where it has a Gucci Vault account, confirmed by Business in vogue.
The NFTs, called Gucci Grail, will be unveiled on March 23, minted on the Ethereum blockchain. Fans don’t yet know what the ultimate reward will be, other than a “unique, personalized NFT envisioned by [Gucci creative director] Alessandro Michele and carefully crafted by Wagmi-san”. Already 10KTF is enabling digital accessories such as sneakers and bags, so many fans are anticipating a Gucci NFT wearable, which would be a first for the brand.
In one tweet wednesdayGucci wrote, “In constant search of precious wonders, #AlessandroMichele takes a trip from Rome to New Tokyo where he meets renowned digital artisan Wagmi-san of @10KTFshop.”
Access to the NFT is a lesson in creating luxury exclusivity and anticipation in the metaverse. On an informative FAQ page, Gucci and 10KTF shared a complex list of requirements. First, people must sign up for an “allow list” to qualify for one of 5,000 “mint passes”. Some passes will be reserved for friends of Gucci and 10KTF. Otherwise, to redeem a mint pass, people need to own an NFT from a range of previous NFT projects included and pay 1 ETH, or around $2,700. Allowlist access is granted to those who have demonstrated community involvement, including members of the Gucci Discord community who have earned the title of “Explorer” (based on engagement) , or those who own a 10KTF NFT or an NFT from a supported project. Supported projects read like a “who’s who” of popular PFP collections including World of Women, Cool Cats, Bored Ape Yacht Club, and Forgotten Runes Wizards Cult (excluding Forgotten Souls). And by the way, new passes expire on March 18.