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Gucci capitalising on NFT and AR

Gucci on 25 May auctioned an NFT inspired by its latest collection. Titled Aria, the bidding for the online auction at Christie’s went until 3 June. The final bidding price for the NFT is set at $25,000. The proceeds of the auction will be donated to UNICEF to support the organisation’s initiative in combating the COVID-19 pandemic.

Aria is a short film produced by Italian-Canadian filmmaker Floria Sigismondi and Gucci Creative Director Alessandro Michele for the Gucci Fall/Winter 2021 fashion show. Cited from Christie’s, Gucci’s NFT “marks a historic moment for the storied brand, as it bridges into a new media space.”

This is not the first time the world renowned fashion house dabbles in digital space. The brand in March launched virtual sneakers Virtual 25 on its app for $12. The virtual sneakers are also available in augmented reality (AR) fashion app Wanna for $8.

A month later, Gucci launched Gucci Sneaker Garage that lets users design their own digital sneakers. Users who purchase the sneakers will be able to dress their avatars in the sneakers on gaming platform Roblox and VRChat, creating an immersive digital experience for the buyers.

Earlier this year, the brand launched a collaboration with outdoor brand The North Face for Pokémon Go app. The collection, which features t-shirts, hats and backpacks, is up for grabs in the app.

Wanna CEO Sergey Arkhangelskiy told Business of Fashion, “In 5 or maybe 10 years a relatively big chunk of fashion brands revenue will come from digital products.” Arkhangelskiy also predicts that more brands will integrate AR into their products.