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House of Gucci Vaults into the Metaverse

Gucci continues to embrace the metaverse as it announces Vault, 'where the past, present and future co-exist.'
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Gucci  (PPRUF)  is opening up the vault.

The iconic Italian luxury brand recently announced the launch on discord, a digital distribution platform, of Vault, "as a place to foster open conversations with the community about what’s next in the metaverse."

The Gucci Vault Discord is described as the "official server for the House’s new experimental creative space envisioned by Creative Director Alessandro Michele where the past, present and future co-exist, exploring new digital realms alongside a curation of vintage Gucci pieces and noteworthy designers."

In addition, Gucci and Superplastic, which makes limited-edition vinyl toys and digital collectibles, have gotten together to launch SuperGucci, a limited series of CryptoJanky non-fungible tokens and ceramic sculptures.

“Each extremely limited and valuable NFT draws inspiration from Gucci’s signature patterns, icons, and symbols, reinterpreted through the lens of SUPERPLASTIC synthetic celebrities and artists, Janky & Guggimon,” according to a press release.

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SuperGucci is planned as a three-part series, with its first collection of NFTs set to launch on Tuesday, Feb. 1.

Gucci is no stranger to NFTs. Last year the company sold a digital version of its Dionysus bag on Roblox for about $4,115, which is about 20% more than the physical object.

In November, analysts at Morgan Stanley said metaverse gaming and non-fungible tokens could represent a revenue opportunity of $56 billion for the luxury market by 2030.

"NFTs and social gaming present two near-term opportunities for luxury brands, allowing them to monetize their vast IP (intellectual property) built over decades,” the report said.

Morgan Stanley noted that demand for NFT collectibles will lead to strong demand for luxury goods in the medium term

Demand for luxury goods is rising in the U.S. and cryptocurrency wealth is believed to be behind a chunk of it, Jefferies analyst Flavio Cereda said last month.