Anyone whose virtual alter ego is wandering around the Roblox online game platform these days might run into other avatars sporting Gucci handbags, sunglasses or hats.
The digital-only items were part of a limited Gucci collection for Roblox, a step by the fashion house that prides itself on Italian craftsmanship to enter an expanding virtual space where many of its youngest admirers already are at home.
The experience allowed Roblox's core demographic — roughly ages 9 to 15 — a digital entrée to the rarified world of luxury goods that few can dream of in the real world. Now that the space is closed, the limited edition items have even greater cachet. According to the developer, more than 4.5 million items were “won."
“Gen Z, they sometimes see virtual products as more valuable than physical products,” Christina Wootton, the vice president for brand partnerships at Roblox, said. “We are definitely seeing that on Roblox, where it is all about storytelling and self-expression. There are so many people who come together and social and connect with their friends, and they want to represent their digital selves through fashion.
Even on Roblox, which has its own marketplace where items can be traded, the Gucci Dionysus Bag with Bee was resold for over $4,100 worth of Robux — exceeding the price of a real Gucci Dionysus bag and a huge premium of the original price of 475 Roblox, roughly $4.75. Only 851 of the bags were available during two releases, making it the rarest piece in the collection, compared with the 2.6 million wide-brim denim hats that were snapped up.
Boson Protocol, a technology company, is bridging the gap between the metaverse and physical world with a new venture designed to allow consumers to purchase fashion NFTs for their avatars from a platform, Decentraland. NFTs, in turn, will contain vouchers redeemable for corresponding real-world items. The project is expected to launch in two months.
“Fashion brands have to go where other people are not going. The whole point of a fashion brand is to stand out,” Allen Adamson, co-founder of marketing consultancy Metaforce, said.
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