Luxury brand Gucci is buying land in blockchain game The Sandbox (SAND) to create experiences in the metaverse. In addition, the company also plans to sell virtual fashion items to players for them to wear in the game.
Gucci enters the metaverse with The Sandbox
On its Twitter account, luxury brand Gucci announced that it has purchased land in the metaverse The Sandbox (SAND) to create and deliver virtual experiences.
The size of the land was not disclosed by the luxury brand. For the latter, its location in the metaverse aims to offer a fashion-centric space that builds on its Gucci Vault concept.
In addition, Gucci will also sell fashion items for players to wear in the game. In this way, the Italian brand intends to present its products in an original way thanks to non-fungible tokens (NFTs).
“For a new generation of gamers, virtual fashion is as important as real fashion,”said Sebastien Borget, co-founder of The Sandbox.
The Sandbox continues to attract big brands
Since the beginning of this year, The Sandbox has attracted big brands to the metaverse. In addition to Gucci, the retail giant Carrefour has also bought a plot in the virtual world.
Recently, the French video game giant Ubisoft signed a partnership with The Sandbox to introduce elements of its worlds. The company will have its own virtual plots and characters will be made available for players and creators to incorporate into their experiences.
With that in mind, The Sandbox plans to continue its momentum. The company has decided to set up a startup incubator to develop the metaverse with a $50 million fund at its disposal.