Holders of Gucci Vault Material NFTs Reportedly Set to Be Rewarded with Exclusive Physical Products
Gucci is reportedly set to rewards holders of Vault Material NFTs with exclusive physical products, giving owners the option to supposedly swap their non-fungible token with either a luxury wallet or bag.
Owners of Gucci Vault Material NFTs are reportedly set to be rewarded with two exclusive physical products that include either a wallet or a bag, for free.
These luxury items are to be exclusively gifted to holders and as such will not be available for purchase to the public.
Supposedly, in order for an NFT holder of the aforementioned asset to receive such a reward, they have to swap in their non-fungible token for the wallet or bag. By doing this, they’re exchanging their NFT for the desired exclusive physical product, losing ownership of the digital asset that ends up getting burned in the process.
The Gucci Vault Material NFTs were made in partnership between the luxury fashion house and 10KTF, a narrative NFT project made by popular digital artisan Wagmi-san about a floating city that is comprised of a virtual shop open at certain times. As for the previously-mentioned tokens, they’re part of a collection of 2896 NFTs that were actually distributed as rewards to Gucci Grail NFT holders last year, making this new free swap certainly a welcome option for holders, if true.
Back in March this year, Gucci formed a partnership with the creators of Bored Ape Yacht Club, Yuga Labs, to explore fashion in the metaverse.