It appears that fashion houses around the world have an innate connection to NFTs. Gucci has entered the ranks (again) this week, with the introduction of a new collaboration release. Burberry was one of the first designer brands we reported entering the NFT space in August 2021. On the other hand, Gucci received their first taste of NFTs before that narrative.
Gucci has now doubled down, launching Vault, an “experimental online area,” in collaboration with Superplastic. The new NFT series, branded “#SUPERGUCCI,” is the brand’s first collaborative NFT investigation.
However, as previously stated, this is not Gucci’s first rodeo. In June of last year, the designer label produced their first NFT, the ‘Gucci Aria NFT,’ earning a cool $25,000 at Sotheby’s. Unlike typical NFT launches, the new Gucci appears to be a fresh approach, with early information indicating an “online concept store.”
According to the Vault website, the platform is under “constant evolution, exhibiting restored and personalized archive pieces alongside a selection of things from other brands.” Consider it something like a fashion house museum.
Aside from the aforementioned Burberry, fashion and apparel firms have been entering and exploring the market on a regular basis. Gucci’s regular competitors, Louis Vuitton, Dolce & Gabbana, and Dior, have all participated in blockchain and NFT projects in some form, while other traditional fashion manufacturers, such as Adidas and Gap, have recently made news with crypto engagement as well.
Transcending the confines of time and space, the first ten #SUPERGUCCI NFTs created by @superplastic and the House represent a visionary path of experimentation into the metaverse. Discover more about the drop https://t.co/zifYOyUOsa #AlessandroMichele #GucciVault pic.twitter.com/SHhMPkPraz
— gucci (@gucci) January 18, 2022
Gap was recently highlighted as a major clothing brand to distribute NFTs, launching a ‘gamified NFT collection’ that features rare, limited edition products for collectors via the Tezos network.
Of course, not all businesses have been sympathetic to the idea of NFTs; Hermes, for example, has been named several times as a brand that has been dissatisfied with a designer who has copied their brand image. As we wrote in the December issue of NFTs In A Nutshell, Hermes is apparently concerned about IP and trademark breaches involving NFT founder Mason Rothschild’s MetaBirkins.
Regardless of their place in the broader market, fashion brands are certainly finding a unique approach to engage with customers. Yet, the long-term viability or engagement levels that NFTs will be able to see with these consumers remain to be seen.