Owners of a Gucci Vault Material NFT will be able to exchange this digital asset for a physical product from the exclusive Italian luxury brand.
Gucci has surprised its consumers with a new initiative that will reward their loyalty to the luxury brand.
The Italian fashion label is offering a series of two exclusive physical products, a wallet and a canvas duffle bag, to reward Gucci Vault Material NFT holders.
According to Vogue, only the holders of one of these NFTs will be able to redeem their digital asset and claim one of the brand's physical products, which have been exclusively designed and cannot be purchased by anyone else.
In this way, Gucci is recognizing the most loyal and active members of its community, unlocking new ways to reward loyalty, creating new use cases for NFT tokens and expanding further into the Web3 ecosystem.
Gucci Vault Material NFT
Gucci Vault Material NFT was launched in March last year as a reward for participants of 10KTF Gucci Grail, a project created in collaboration with 10KTF. This experience was accessible to Gucci Grail NFT holders and, in total, 2.896 NFTs were minted.
Gucci Vault Material NFT holders have until August 25 of this year to exchange their digital items for one of two physical items the luxury brand is offering.
To acquire the wallet, users will need to redeem 1 Gucci Vault Material NFT, while to acquire the travel bag, it is necessary to exchange 3 of these NFTs.
Gucci has been one of the most active fashion brands in the world of blockchain and NFTs. But, in addition to non-fungible tokens, the brand has also been betting on cryptocurrencies, enabling the payments with crypto assets such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), and Wrapped Bitcoin (wBTC), in five of its stores in the United States.
Gucci President and CEO Marco Bizzarri said Gucci wants to stay at the forefront of new and innovative Web3 technologies to provide a better and more complete experience to its customers and consumers.
Continue reading: Tiffany, Gucci and Prada: this is how the luxury industry embraces cryptocurrencies
