“Baggage You’ll Want to Carry”

Gucci NFT holders have been shocked final week with the information of bodily merch! Holders minted 2,896 Gucci Materials NFTs in March. Now, they will change these tokens for luxurious rewards. The information got here earlier this week, and now, we take a look at simply what’s in retailer for Gucci NFT holders. 

Gucci NFT Holders: Pockets or Duffle Bag, the Alternative is Yours

Late July, Gucci introduced that holder’s may redeem both a pockets or a bag utilizing their NFT. We now have full particulars on how holders can obtain their items. Firstly, there’s a fashionable Gucci bifold pockets – a pockets you don’t want a seed phrase for! Then, there’s the duffle bag. This can be a Gucci x 10KTF co-branded bag.

To obtain the pockets, holders should change one Gucci Vault Materials NFT for one pockets. Nevertheless, to get your palms on the duffle bag, you must redeem three tokens. At current, the Materials NFT has a flooring worth of 0.22ETH on OpenSea. So, that is roughly $412 at this time (August 1st, 2023). In retailer, an analogous wanting Gucci pockets prices $460, and a duffle bag, $1790.

So, what does this imply? Effectively, it could be clever for holders to decide on the duffle bag. Three Gucci Materials NFTs prices round $1,236 – that’s over $500 lower than a (comparable) Gucci duffle bag. Then, issue within the co-branded brand. Might the co-branding between Gucci and 10KTF add shortage and rarity?

How Did Gucci Collaborate With 10KTF?

After introducing Gucci Grail NFTs, holders have been invited to participate in a 10KTF mission in Battle City. Then, Materials NFTs have been despatched to all those that participated. After months of hypothesis, Gucci lastly revealed the phygital facet of the NFTs.

That is an unimaginable instance of manufacturers implementing engagement-based rewards. Different manufacturers to introduce NFTs as rewards embody All Yoga with their digital twins and free in-store NFTs. After all, we are able to’t point out NFT loyalty with out mentioning Starbucks Odyssey. Additional, this isn’t the primary time that Gucci has performed with phygital rewards. Gucci launched the ‘KodaPendant’ along with Yuga Labs. Due to this fact, this latest providing additional cements the model’s place within the Web3 world.