Gucci made clothes for NFTs and investors are paying thousands

High end luxury fashion brand Gucci launched a collection of NFTs that outfitted existing NFTs with new clothing. Here is an overview of the collection.

What happened: Gucci launched the Grail Gucci 10KTF collection with digital artist Wagmi-san. The NFTs were revealed earlier this week and show the NFTs of 11 existing well-known NFT collections now outfitted with new clothing, providing a unique take on NFTs and IP rights.

“As it happens when creativity meets curiosity, something unimaginable becomes a reality, ushering in a new era of creativity across dimensions,” the project description reads.

The new NFTs were cashable from a pass. A total of 5,000 passes were available, with some given away as community rewards, some to team members, and some to Gucci Discord members. Mint passes have a cost of 1 Ethereum (CRYPTO: ETH) each.

Passes could be redeemed for 10KTF NFT or expired worthless.

There are a total of 4,253 items in the 10KTF Gucci Grail collection on OpenSeawhich are divided into NFTs equipped from existing NFTs in the following collections:

  • Bored Ape Yacht Club: 1,381
  • Mutant Monkey Yacht Club: 840
  • women’s world: 494
  • Force 0n1: 404
  • Cool cats: 282
  • CryptoToadz: 173
  • Chubby Penguins: 166
  • Bored Monkeys Kennel Club: 123
  • Wolf game: 121
  • Forgotten Rune Sorcerer Cult: 118
  • alley cat gang: 69

Related Link: How to Buy NFTs

Why it matters: Trading volume on the 10KTF Gucci Grail collection topped 1,400 ETH, or over $4.3 million

The floor price for the collection is 0.99 ETH, hovering just around the mint price of the mint pass. Some of the rarest collections have higher floor prices.

The current lowest floor price for the NFT Collection comes from Wolf Game. The floor price for a 10KTF Bored Ape is 1.75 ETH.

Gutter Cat Gang, which has the fewest NFTs in the collection, has a floor price of 1.43 ETH.

The best selling 10KTF Gucci Grail is 9.99 ETH. Several Mega Zombie Mutant Ape Yacht Clubs are listed at 15 ETH. There are only six Mega Zombie Mutant Ape Yacht Clubs in the collection, all with different traits.

The collection comes from the famous luxury fashion brand Gucci, which belongs to Kering S.A. (OTC:PPRUF), and shows how adding additional clothing or traits to existing NFTs could be welcomed by the NFT community. The collection also shows how owning NFTs can lead to additional monetization opportunities such as creating a whole new collection and upgrading already owned NFTs.

Gucci bolsters its presence in the NFT and metaverse space with multiple collections and a land buy inside The sandbox (CRYPTO: SAND) in February.

Holding a Gucci Grail 10KTF could also provide additional utility with future drops and 10KTF roadmap items related to the project.

Photo: Gucci’s Twitter

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