Gucci Purchased Land In The Sandbox To Create Metaverse Experience

Gucci purchased land in the Sandbox game in order to create a metaverse experience but it will also sell virtual items for the players to wear in the game so let’s read furhter in today’s latest cryptocurrency news.

Gucci purchased land in the Sandbox metaverse game and will create themed experiences in the game inspired by the “Gucci Vault platform which lists items like NFTs and vintage bags. In addition to a fashion-focused metaverse space, Gucci will be releasing fashion items for all players to purchase and to wear in the virtual reality game. The COO and co-founder of the Sandbox, Sebastian Borget said:

“For a new generation of players, virtual fashion is as important as real-life fashion.”

This is not the first time that Gucci licensed items for virtual wear. Initially, it has partnered with two Roblox developers to release an official clothing collection in December 2020 and created a virtual space on Roblox dubbed “Gucci Garen experience.” some of the Roblox items ended up being scalped and resold for thousands of dollars with the prices comparable to one of actual Gucci bags. But unlike Roblox, the Sandbox Is a crypto-focused platform and all users have to purchase virtual land and items using the SAND taken with the game itself being built on the Ethereum network. That being said, the Sandbox is no stranger to the huge prices for virtual things either with the buyers scooping up virtual real estate near celebrities and land for thousands of dollars. Gucci made a name for itself in the crypto space for launching a luxury NFT token that shows ownership of digital items and it still continues to invest in decentralized platforms as well as showing no signs of stopping when it comes to expanding into the Web3.

As recently reported, Ethereum’s The Sandbox metaverse game launched a $50 million accelerator program with Animoca Brands and Brinc. The program will invest in 100 startups across the crypto ecosystem over the next three years. As the hype around the metaverse enhances, the Ethereum-based game The Sandbox emerged as one of the early contenders in the space, and to encourage the development of other projects in the gaming world, The Sandbox launched an accelerator program to invest in startups.

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• Source: https://www.dcforecasts.com/blockchain-news/gucci-purchased-land-in-the-sandbox-to-create-metaverse-experience/