Gucci, a renowned luxury fashion label, has teamed up with Superplastic, a digital character firm, to produce a SuperGucci non-fungible token (NFT) line. The collection’s theme is based on mixing traditional Gucci themes and designs with SuperPlastic digital characters Janky and Guggimon.
Alessandro Michele, Gucci’s head of design, collaborated with Superplastic to produce the NFTs. Approximately 250 NFTs will be made, and they will be dispersed in three waves, the first of which will be 10 items on February 1. Each digital collectible will include an original ceramic statue handmade in Italy by Gucci’s ceramicists. Furthermore, Gucci will promote its digital Vault, an experimental space that combines a historic digital vault with lab-like creation, on the day of the first launch with Superplastic.
Combining the release of NFTs with the selling of vintage products exemplifies how technology and history interplay. It emphasizes that embracing emerging innovations does not imply a rejection of traditional marketing models but rather provides new chances to enhance the user experience.
Gucci’s partner Superplastic is a firm that aims to create virtual characters with a social media audience comparable to Marvel. It’s partnering with the Bored Ape Yacht Club to develop NFTs, and it raised $20 million in funding in October.
Digital items to change the market.
Digital items are not only affecting the crypto world, but their impact could also soon spill into traditional companies like Gucci, Microsoft, Disney, and other giant corporations to have warmed up to the trends from the blockchain community. Morgan Stanely claimed in a recent analysis that digital outlets such as NFTs and the metaverse might boost luxury brand profits by ten per cent by 2030. Owing to the low costs of digital, this could result in a 25% increase in bottom line profits. Balenciaga, another Kering brand, was rated as the market leader in this category by the survey.
The majority of completely digital NFT sales don’t have to worry about shipping logistics or asset preservation. The transactions are purely virtual and involve no physical communication. Gucci’s project, on the other hand, involves craftsmen creating sculptures and transporting them to the appropriate NFT holder. The luxury brand appears to have taken things a notch higher as it appears to make a solid statement of its intent.
Gucci plans more NFT ambitions.
While its latest partnership is applaudable, Gucci isn’t a rookie when it comes to NFTs. A Gucci Aria NFT sold for $25,000 at Christie’s last year, making it one of the most expensive pieces the brand has ever sold. The rise of NFTs has led more companies into the crypto space. Other luxury brands have followed Gucci’s steps to trademark their products and cash in from the NFT surge. Hermes, another high-end brand, has filed a trademark lawsuit over the MetaBirkins NFT virtual handbags. Dolce & Gabbana auctioned off digital collectibles, and Louis Vuitton released a game with in-game NFTs designed by digital artist Beeple.
Gucci has more plans for the NFT space in the coming days. The global clothing brand is experimenting with 3D in-game clothes for premium fashion businesses Neuno using the NFT platform.