According to Vogue Business, Gucci purchased virtual land in The Sandbox as part of its metaverse experience. The Sandbox is also known for its metaverse coin project SAND. Cryptokoin.com is providing the details…
Gucci bought land in Ethereum-based The Sandbox
On Wednesday, the designer clothing brand bought an undisclosed amount of virtual land in the decentralized blockchain game The Sandbox. announced that he had Gucci will create a variety of experiences at The Sandbox, inspired by the “Gucci Vault” platform, where items such as Gucci-themed NFTs and vintage bags are listed.
This move will allow the fashion brand to create virtual fashion experiences. However, details on exactly what this experience entails are not yet available to the public, and it is not known how much the fashion brand has invested in acquiring the digital land rights. Alongside a fashion-focused metaverse space, Gucci will also release fashion items for The Sandbox players to purchase and wear items in the metaverse.
Gucci was one of the first major fashion brands to offer NFT
Sebastien Borget, COO and co-founder of The Sandbox, said, “For the next generation of gamers, virtual fashion is just as important as real-life fashion.” said. Gucci has been at the forefront of fashion brands turning to crypto. It became the first luxury brand to offer an NFT at auction through Christie’s in May 2021. Gucci’s experience with Roblox also gained attention after a user spent more than $4,000 on a Gucci bag. This amount was about $1,000 more than the real-life value of the bag.
The latest situation in metaverse coin SAND price
Meanwhile, The Sandbox’s SAND token seems to be trading in green for most of the timeframes. The cryptocurrency, which changed hands at $ 4.64 at the time of writing, has increased by 0.6 percent in the last 24 hours, but has increased by 25 percent over the past week and close to 50 percent for two weeks. The coin, which registered a market capitalization of $ 4.7 billion, has risen up to 3,000 percent year-on-year.
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