Gucci, the esteemed brand under the Kering Group, has taken a momentous step into the realm of NFTs (Non-Fungible Tokens) by unveiling its Vault Material NFT physical exchange feature on the partnered platform, 10KTF.shop. Following months of anticipation surrounding the 2,896 NFTs minted in March, avid brand enthusiasts can now redeem their NFTs for exclusive Gucci products.
Gucci NFT Launches Physical Exchange on 10KTF.shop Featuring Gucci Vault Material
With the redemption function, users can trade 1 NFT for a sleek and stylish wallet, while 3 NFTs open the door to a coveted Gucci x 10KTF joint luggage bag. The description playfully labels the duffle as “baggage you’ll want to carry,” and the wallet as a secure option that “does not require a seed phrase.”
A cost comparison reveals that the joint luggage bag offers a more favorable option for Gucci fans and collectors. While an identical-looking wallet on the brand’s e-commerce site carries a price tag of $460, a similar version of the joint luggage bag without the 10KTF logo is valued at $1790. Significantly, on the popular NFT marketplace, Opensea, the Gucci Vault Material NFT currently trades at 0.22ETH, approximately $412. Due to its co-branded status with 10KFT, the bag holds added rarity value, offering an exceptional and exclusive appeal to its owners.
The NFT was initially rewarded to participants in a 10KTF mission in Battle Town, where access required a Gucci Grail NFT. Participants were then airdropped the exclusive NFT as a special recognition of their involvement.
Gucci’s venture into NFTs underscores the brand’s eagerness to embrace innovative technologies and explore novel ways of engaging with its audience. By introducing this physical exchange function, the company opens an exciting avenue for its fans to own tangible luxury products connected to the world of blockchain and digital collectibles.
As the NFT space continues to surge in momentum and interest, the Gucci Vault Material NFT exchange on 10KTF.shop provides a glimpse into the evolving intersection of luxury brands and blockchain technology, promising an exhilarating future for digital and physical collectibles alike.
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