NFT is not just a small picture Gucci announced that it supports the exchange of NFT for physical bags

On July 30, Gucci, a brand of Kering Group, launched a physical exchange function on the partner platform "10KTF" this week. One "Gucci Vault Material NFT" can be exchanged for one Gucci wallet, and the "Gucci x 10KTF" joint Luggage bags require 3 NFTs.

On Gucci's official website, a similar-looking wallet sells for $460, while a similar version of the duffle bag retails for $1,790.

On "Opensea", the price of "Gucci Vault Material NFT" is 0.22ETH, which is equivalent to $412. In addition, since this travel bag is also a joint model of "10KFT", it also has a rare value that money cannot buy.

"Gucci Vault Material NFT" debuted in March last year as part of the cooperation between Gucci and the NFT platform "10KFT".

Projects include a virtual floating New Tokyo world, avatar-like NFTs, shoppable fashion accessories and a fictional character called "Wagmi-San," a Web 3.0 wagmi game with a look inspired by Gucci creative director Alessandro Michele's series.

Holders can bring the "Gucci Grail Mint Pass" and any of the 11 cooperative NFT series mentioned above to go to Mr. Wagmi-san to make a new NFT wearing Gucci clothes within a limited time .

The founder of a technology company just exchanged NFT for Gucci physical wallets. He said that just holding "Gucci Grail" will not bring you any returns, but participation will. One can expect to see more of this “play-to-earn” model in the future.

According to him, this type of strategy is smart as it bridges the digital divide and rewards holders with physical products.

For Gucci loyalists, it's another luxury item in their brand's collection, basically for free. For Web3 users, this is a trial product that introduces them to the Gucci world and creates traction for the brand.

On March 27 this year, Gucci announced the establishment of a partnership with the acquisition of "10KTF" and "Yuga Labs", the founder of Boring Ape.

The Gucci announcement stated that continuing to explore the metaverse with "Yuga Labs", please continue to pay attention to new narrative methods that blur the boundaries between physical and digital.

A few days later, "Yuga Labs" officially released "KodaPendant, Otherside: Relics by Gucci".

The "Gucci KodaPendant NFT" with a quantity of 3333 can also be used to exchange for a 925 silver Gucci entity joint pendant necklace.

Recently, Gucci and the auction house Christie's cooperated to launch a series of digital art NFTs, called "Future Frequency: Exploration of Generative Art and Fashion", covering 21 NFTs created by AI artist Claire Silver, generative artist Emily Xie, etc., mainly inspired by In Gucci's physical series products.

Web3 native brands and traditional luxury brands enjoy a symbiotic relationship as they complement each other. One has digital narrative logic but no credibility of physical products, while the other has physical history and brand stories but no credibility of uniqueness on the NFT chain.

The combination of NFT and entities is on the rise. Not only Gucci, but also the cooperation between Tiffany and CryptoPunks, Rimowa and RTFKT, all represent a new narrative of NFT built on exclusivity and scarcity.