The luxury brand is hoping to attract young customers with a pair of cheap, digital “shoes.”
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Why do people buy things that they will never be able to wear in real life?
The fashion house Gucci recently launched a pair of augmented reality (AR) tennis shoes as non-expendable NFT tokens. This is to stay ahead of the trends in virtual reality.
Basically, it is a filter that you use with your smartphone to appear that you are using them with the help of AR.
To achieve this, Gucci collaborated with fashion tech company Wanna, known for manipulating augmented reality and creating three-dimensional models that can be used for digital footwear and even watches, according to Business Of Fashion.
Wanna has previously worked with Reebok, Puma and Snapchat to test consumer response to virtually trying on clothes.
For the luxury clothing brand, it is not the first time that it has ventured into something similar. On other occasions, it has designed virtual garments for the game Drest, Sims 4 and even Pokémon Go, as well as the everlasting game Roblox. But Gucci is not the only ones to have done it — Louis Vuitton also got into the business by designing skins for League of Legends in 2019.
Gucci hopes to reach Generation Z, who know the technology but still cannot afford a physical product. The digital footwear has a value of almost $9 on the Wanna application. On Gucci application’s, they are worth almost $12 (244 Mexican pesos). Why such an “affordable” price? The brand wants to reach (virtually) a wider audience. So when someone can’t afford real tennis shoes, they’ll do it digitally.
This is different from what many others have tried with NFTs , which are surprisingly high in value. In addition, the luxury company wants to leave them at that value so that the same consumers can exchange them. However, Gucci is working so that this product increases its commercial value once it is introduced in the market.
The interest in the NFTs isn’t just limited to those who are artists or Elon Musk, but brands as well. Non-fungible tokens have attracted surprising numbers at auctions in recent weeks. Even Wanna CEO Segey Arkhangelskiy said in a statement that NFT and AR technology will continue to grow very fast. He predicts that within 5 to 10 years, a large portion of luxury brand revenue will come from digital products.
Gucci is experimenting in the virtual market, and although its sneakers are not technically an NFT, it is a product that exists only on the internet. So we have to ask: Would you pay for luxury shoes that only exist on your phone? And will these virtual shoes become a reality soon?
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