Gucci Vault Material NFT offers benefits to members! Wallets and handbags can be exchanged for free

Top luxury fashion brand Gucci plans to offer free exclusive physical products such as wallets or handbags to holders of its Gucci Vault Material NFT. These products will not be available for purchase to the general public, and users holding the NFT can choose to redeem or sell them at their discretion. Global brands are increasingly focusing on the integration of digital technology with brand experience, as it is more appealing to the younger generation.

Gucci NFT Implements Membership-based Free Gift Service

According to NFTNow's report, Gucci plans to offer two exclusive physical products, a wallet or a handbag, for free to holders of the Gucci Vault Material NFT released in March last year, valued at approximately $600. These products are not available for purchase by the general public, emphasizing the uniqueness of NFT ownership.

Unlike traditional luxury brands, users holding this NFT will have the option to redeem it for one of the items for free or sell the NFT to others interested in obtaining these exclusive physical items. If the holder chooses to redeem, the NFT will be destroyed.

The Material NFT is part of Gucci's collaboration with the NFT project 10KTF, where Gucci designs various clothing items and turns them into NFTs. This allows holders of projects like Bored Ape Yacht Club BAYC or Cool Cats to showcase and enhance their virtual identity and brand identity in the Web3 world by wearing or using Gucci clothing.

Reportedly, Gucci released a NFT art film for sale on the luxury art auction platform Christie's in 2021, marking its first foray into the Web3 space. The film was later sold for $25,000. Since then, Gucci has been striving to integrate NFT ownership with its physical products.

Gucci's comprehensive and leading position in venturing into the Web3 space and integrating it with its own products is evident. Initiatives include establishing the online art exhibition space Gucci Art Place, purchasing land on the metaverse platform Sandbox to create the virtual brand Gucci Vault, and collaborating with Yuga Labs' metaverse land project Otherside to introduce brand collaboration works, showcasing Gucci's ambition.

Premium Brands Enter the Web3 Space

Global brands including LVMH, Nike, and Puma have been focusing on exploring the subtle interactions between digital technology and the physical world, blurring the lines between the virtual and the real.

Alexandre Arnault, Executive Vice President of Tiffany & Co., noted:

NFTs are a cultural phenomenon and a medium of art for many young generations.

Founder of the Hong Kong tech brand Gusto Collective, Aaron Lau, also stated:

Generation Z is the main consumer group in the future and is less resistant to such new technologies. For major brands committed to enhancing new brand experiences for consumers, NFTs and the social sphere will be a channel worth exploring.