3 mins readNow, you can trade your Gucci Material NFT coins for a nifty Gucci flip wallet or a spiffy Gucci x 10KTF branded bag. We've all been curious about the real worth of these 2,896 tokens made back in March, right?
What Did the Announcement Say?
Kering's Gucci brand made the announcement on the 10KTF.shop website. Trade one NFT for the wallet, or three for the bag.
The writing team says the bag is luggage “you won't mind towing around”. You don't need a secret word to use the wallet.
Gucci lovers might find the bag a great deal.
A similar-looking wallet on Gucci's digital shop costs $460. Yet, a similar bag without the 10KTF logo is $1790!
The Material NFT currently trades for 0.22ETH or $412 on Opensea. The bag has added value because it's rare and you can't just buy it.
Credit: 10ktf.shop
Gucci's Classic Fashion Gets a Makeover in Christie’s NFT Digital Art Sale
Those in the Battle Town 10KTF mission received the Gucci Vault Material NFT as a prize. To join, you needed the Gucci Grail NFT. The token was a gift to participants.
"Merely holding a Gucci Grail awarded you nothing. What did? 'Involvement', " says Matt Maher from M7 Innovations. Maher just traded in his token for a Gucci wallet. He sees more “play-to-earn’ or ‘engage-to-earn’ options in the future.
In Maher's view, their plan is smart. It breaks down the digital barrier and gives token owners real products.
For Gucci fans, here's another luxury item for your collection. And it was nearly free! For digital natives, this freebie could lure them towards Gucci. "Gifting your community is never wrong," Maher adds. Even if the NFT market is bearish, a prize's worth or use can be disputed, but it’s still a gift.
What Do Other Luxury Brands Do?
Luxury brands have different ways to manage their digital loyalty programs and reward token owners.
Louis Vuitton and its VIA program differ. Genesis $41,600 Treasure Trunk NFT owners got a Louis Vuitton trunk. But, other perks are buying options for limited products - like Pharrell Williams' "bitcoin orange" Speedy 40 bag which costs $9K!
For Dior, if you own the B33 sneaker replica collectible, you get the option to buy from Kim Jones’ men's spring ’24 collection before anyone else.
The 3,333 Gucci KodaPendant NFTs - a team project with Yuga Labs Otherside game – can be traded for silver pendant necklaces.
Just now, Gucci and Christie’s auction house had an NFT sale. They featured top digital talents. The handle of Gucci’s Bamboo 1947 bag inspired Iskra Velitchkova's algorithm art.
Final Thoughts
Traditional luxury sellers and Web3 companies can benefit from each other. One lacks credibility with physical goods while the other hasn't nailed digital items.
- Gucci teams up with Yuga Labs, who are like the parent to 10KTF.
- Tiffany & Co is joining forces with CryptoPunks. That's powerful!
- And what about Rimowa and RTFKT working together?
You bet. It’s all amazing! These cool combos can bring the best from each side. It's like making the ultimate dream team!
They can merge exclusivity, rarity, and scarcity. Are you eager to own them?
