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Gucci Buys LAND in the Sandbox Ahead of Fashion Week

By:
Bob Mason
Updated: Feb 10, 2022, 13:21 GMT+00:00

As Metaverse activity picks up, fashion continues to lead the charge, with Gucci buying LAND ahead of a virtual fashion week in March.

gucci, decentraland, metaverse,crypto, fxempire

The busy start to the year for the Metaverse has continued into February, with no signs of a “virtual” slowdown.

In late December, news of a surge in Metaverse-related trademark applications pointed to a busy year ahead. Reportedly, more than 1,300 Chinese companies had registered for trademarks related to the Metaverse. Big names included Tencent, Huawei Technologies, and NetEase.

Since the turn of the year, major sporting franchises, music powerhouses, and multinational corporations have also turned to the Metaverse.

January LAND Purchases in the Metaverse

On the sports front, Tennis Australia launched a tennis tournament on Decentraland (MANA), which allowed fans from around the world to access the Australian Open.

Following the travel restrictions stemming from the COVID-19 pandemic, the music industry also embraced the Metaverse. In January, we reported on a U.S-South Korean collaboration to take Kpop to the Metaverse.

The collaboration will allow music fans, deprived of live music and access to their favorite artists, to enter the Metaverse and experience concerts from their very own living rooms.

Following the U.S-South Korean collaboration, it didn’t take long for music giant Warner Music Group to get in on the act. In late January, the Sandbox  (SAND) announced a partnership with Warner Music Group. Plans are for the beachfront estate to be a musical theme park and a concert venue.

Alongside sport and music, the fashion world has also embraced the Metaverse. Last week, Vogue Business announced on Twitter a 4-day digital fashion week on Decentraland starting 24th March.

Global brands and visitors will be able to virtually experience fashion shows, attend live music sessions and the after-parties. “Fashionistas” can also buy and wear digital clothing directly from catwalk avatars.

Some of the digital catwalk collections can then be redeemed to also receive the brand’s physical piece. Attendees will reportedly need an Ethereum (ETH) wallet to purchase clothing.

Gucci and the Metaverse

Big brand names, including Gucci, have already held events in the Metaverse. Back in May 2021, Gucci and Roblox hosted the “Gucci Garden”. This was a virtual version of a real-world installation in Italy, offering themed rooms in commemoration of Gucci’s centenary.

Following last year’s dip into the Metaverse, Gucci announced on Twitter that it has bought LAND on the Sandbox.

Based on Gucci Vault, Gucci will offer an interactive fashion experience. Attendees will be able to buy and use fashion items in the Metaverse. More details on Gucci’s plans for the Metaverse will likely follow in the days and weeks ahead.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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