In a bid to stay ahead of the trends in virtual reality, Gucci launched a pair of augmented reality tennis shoes as non-expendable NFT tokens. They come as a filter that can be accessed on your smartphone to appear as if you are using them with the help of AR.
Gucci collaborated with fashion tech company Wanna for the launch. The company is known for creating three-dimensional models with augmented reality that can be used for digital footwear and watches. The likes of Reebok, Puma, and Snapchat have worked with the company before to experiment with virtual try-on products.
Gucci is not new to the AR tech space though. The fashion brand has previously designed virtual garments for the game Drest, Sims 4, and even Pokémon Go and Roblox. Back in 2019, Louis Vuitton also stepped into the arena by designing skins for League of Legends.
Through the initiative, the brand hopes to specifically target Generation Z, who know the technology but cannot afford a physical product yet. The footwear can be bought for $9 on the Wanna application and $12 on the Gucci application. The purpose of the low pricing is to make it more affordable for reaching out to a wider audience.
As opposed to the surprisingly high value of NFTs, the luxury brand has decided to put them out at this value so that the same set of users can exchange these amongst themselves. However, the product will shoot up in value once it is introduced into the market.
NFTs don’t just spark interest among artists or people like Elon Musk but have also started attracting a lot of brands as well. Wanna CEO Segey Arkhangelskiy said in a statement that NFT and AR technology will continue to grow rapidly. Within 5 to 10 years, a huge chunk of luxury brand revenue can be dominated by digital products.
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