Gucci buys LAND in the Sandbox ahead of Fashion Week

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The busy start to the year for the Metaverse continued into February, with no signs of a “virtual” slowdown.

In late December, news of an increase in Metaverse-related trademark inquiries heralded a busy year ahead. According to reports, more than 1,300 Chinese companies have registered trademarks related to the metaverse. Big names included Tencent, Huawei Technologies and NetEase.

Since the beginning of the year, major sports franchises, musical powerhouses and multinationals have also turned to the Metaverse.

On the sporting side, Tennis Australia launched a tennis tournament on Decentraland (MANA), which gave fans around the world access to the Australian Open.

Following travel restrictions stemming from the COVID-19 pandemic, the music industry has also embraced the Metaverse. In January, we reported on an American-South Korean collaboration to bring Kpop to the metaverse.

The collaboration will allow music fans, deprived of live music and access to their favorite artists, to enter the Metaverse and experience concerts from their own living room.

Following the American-South Korean collaboration, it didn’t take long for music giant Warner Music Group to get in on the act. At the end of January, the Sandbox (SAND) announced a partnership with Warner Music Group. The beachfront estate is planned to be a music theme park and concert venue.

Besides sports and music, the fashion world has also embraced the Metaverse. Last week, Vogue Business announced on Twitter a 4-day digital fashion week on Decentraland starting on the 24th.and March.

Global brands and visitors will be able to attend fashion shows, live music sessions and after-parties virtually. Fashionistas can also buy and wear digital clothes directly from runway avatars.

Some of the digital runway collections can then be redeemed to receive the brand’s physical piece as well. Participants would need an Ethereum (ETH) wallet to buy clothes.

Major brands, including Gucci, have already held events in the Metaverse. In May 2021, Gucci and Roblox hosted the “Gucci Garden”. It was a virtual version of a real-world installation in Italy, offering themed rooms in commemoration of Gucci’s centenary.

After last year’s plunge into the Metaverse, Gucci announced on Twitter that it had purchased LAND on the Sandbox.

Based on Gucci Vault, Gucci will offer an interactive fashion experience. Participants will be able to purchase and use fashion items in the metaverse. More details on Gucci’s plans for the Metaverse will likely follow in the days and weeks to come.

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