Italian fashion house Gucci recently launched its new “virtual sneaker” campaign. The Gucci Virtual 25, which was 3D modelled and designed by creative director Alessandro Michele, is now selling for $12.99 in the Gucci app and $8.99 in the Wanna Kicks Sneaker AR app. The sneakers can be worn in augmented reality or used in partner apps such as Roblox and VR chat, after purchasing the downloadable version from Gucci.
This campaign confirms the raising popularity of owning digital assets thanks to large sales of NFTs (non-fungible tokens), a form of cryptocurrency. Although the Gucci sneakers are not technically NFTs, they are similar. The purpose of an NFT is to buy any digital item that is “certified” as the buyer’s own unique possession. The value of such an item is similar to that of baseball cards; one could replicate a baseball card, but it would not hold the same value of the “original” card. The nature of the NFT is that it is the original version of the item.
Gucci is able to take advantage of this new market with their popular brand name as the driving force behind the digital product’s value. But, unlike NFTs, these sneakers can be “used”—even if only in a virtual form.
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