Gucci is back in the news, this time revealing their newest partnership and releasing a digital Metaverse project known as Gucci Grail. 10KTF is a digital NFT company that creates digital accessories, designed by Wagmi-san, the world-renowned designer. Keep reading to learn about the project!
10KTF specializes in creating accessories for what are called parent NFTs, meaning you have to own NFTs to use those accessories. A Gucci collaboration is a match made in heaven as Gucci creates some of the most well-known physical accessories there are.
10KTF uses special compatible technology that allows two NFTs to interact or link together, which is a technology that is believed to be huge in the future. Keep reading for more on the possibilities of this!
This project is definitely big and definitely not easy to get your hands on. Gucci has said that first people need to register to qualify for a “mint pass” which will allow you to purchase Gucci Grails.
Gucci also requires that you own an NFT of an included list and that you pay 1 ETH ($2,700). The supported projects include World of Women, Cool Cats, Bored Ape Yacht Club, and Forgotten Runes Wizards.
This is a pretty lengthy requirement list and not something that other companies have done, so it will be interesting to see how it works out for Gucci. The project is set to be revealed on March 23rd, so we don’t have any exclusive images yet!
A promotional image from Supergucci:
Why Are NFTs Taking Off?
You’ve seen Instagram posts, Twitter tweets, and countless articles about NFTs, the Metaverse, and cryptocurrencies. Why?
Why are all these big-name brands, Gucci and StockX for example, diving into this NFT space?
The answer is, wait for it, this is the future! Something doesn’t take off like this for no reason. There is a meaning behind why it has captivated the planet and why companies see a reason to invest.
So how do you get involved? You start with reading. Begin at this article, where we break down everything there is to know about the Metaverse. Then, navigate here where we discuss all the need-to-know terminology.
A basic baseline of information is incredibly important to have because, without it, you’ll be totally lost. Imagine if you didn’t have any background research on sneakers, imagine how hard it would be to resell.
Whether or not you decide to invest money in projects now is your decision, and you can still be really successful by waiting it out and seeing how the market moves. Just being prepared and ready to act will be of utmost importance.
And finally, stay open-minded! This is a future that nobody has experienced yet, and anything can happen. If at first something sounds crazy, think about it for a little bit. It might not be as out of this world as you once thought.
Frequently Asked Questions
What are NFTs?
A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
How do I buy an NFT?
1. Purchase Ethereum on a crypto exchange (such as Coinbase Global).
2. Transfer your crypto to a crypto wallet. Think of it as a digital checking account that stores and transfers your cryptocurrency.
3. Connect your wallet to an NFT marketplace.
What is Gucci?
Gucci’s product lines include handbags, ready-to-wear, footwear, accessories, makeup, fragrances, and home decoration. Gucci was founded in 1921 by Guccio Gucci in Florence, Tuscany. Under the direction of Aldo Gucci (son of Guccio), Gucci became a worldwide-known brand, an icon of the Italian Dolce Vita.