Gucci Buys Virtual Land On The Sandbox As Part Of Metaverse Experience Bid

　　Luxury fashion brand Gucci has bought itself some land on the digital world platform known as The Sandbox.

　　The move will allow the fashion brand to create virtual fashion experiences for consumers, though details on what that experience will entail are not yet public, nor is it public how much the fashion brand invested to obtain the digital land rights.

　　The space is meant to foster conversations about the future of fashion and the metaverse, The Sandbox told Vogue Business, which first reported the news. Gucci will create digital fashion experiences based on Gucci Vault, which houses the brand's metaverse projects.

　　Gucci has been at the forefront of fashion brands moving into crypto. In May 2021, it was the first luxury brand to introduce an NFT auctioned via Christie's. Gucci's experience on Roblox also drew attention after someone spent over $4000 on a Gucci bag -- roughly $1000 more than the bag is worth in real life.

　　The brand is continuing to move into the metaverse, hiring a manager for its Discord server, who will be responsible for overseeing fans of its NFT projects and requires someone who has “experience with community building and managing crypto communities.”

　　The Sandbox was reached for comment on further details about the Gucci announcement, but The Block did not hear back by press time.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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　　Source: The Block