Gucci goes deeper into the metaverse for next NFT project – Vogue Business

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Gucci’s latest metaverse partnership is with 10KTF, an NFT project that includes a virtual floating “New Tokyo” world, fashion accessories for purchase by profile picture NFT owners and a fictional character called Wagmi-San, a play on the Web 3.0 phrase “wagmi”, short for “we are all going to make it”.

Gucci, via its experimental Gucci Vault off-shoot brand, has introduced the first of initial details that confirm the partnership with 10KTF on Twitter and Discord, where it has a Gucci Vault account, confirmed by Vogue Business.

The NFTs, called Gucci Grail, will be revealed on 23 March, minted on the Ethereum blockchain. Fans do not yet know what the ultimate reward will be, other than a “unique and personalised NFT envisioned by [Gucci creative director] Alessandro Michele and carefully crafted by Wagmi-san”. Already, 10KTF enables digital accessories such as sneakers and bags, so many fans are anticipating a Gucci NFT wearable, which would be a first for the brand.

In a tweet Wednesday, Gucci wrote, “In constant pursuit of precious wonders, #AlessandroMichele takes a trip from Rome to New Tokyo where he meets the famed digital artisan Wagmi-san from the @10KTFshop.”

Accessing the NFT is a lesson in creating luxury-level exclusivity and anticipation in the metaverse. On an information FAQ page, Gucci and 10KTF have shared a complex list of requirements. First, people need to register for an “allow list” to qualify for one of 5,000 “mint passes”. Some passes will be reserved for friends of Gucci and 10KTF. Otherwise, to redeem a mint pass, people need to own an NFT from one of a range of included previous NFT projects, and pay 1 ETH, or about $2,700. Allow list access is granted to those who have shown community involvement, including members of the Gucci Discord community who have achieved the title of “Explorer” (based on engagement), or those who own a 10KTF NFT or an NFT from a supported project. Supported projects read like a “who’s who” of popular PFP collections, including World of Women, Cool Cats, Bored Ape Yacht Club and Forgotten Runes Wizards Cult (excluding Forgotten Souls). And by the way, mint passes expire on 18 March.