Gucci, the iconic Italian luxury fashion house, has announced a new digital initiative that will showcase its rich heritage and creativity in the sandbox metaverse. The project, titled Gucci Archive, is a virtual exhibition that will feature over 100 pieces from the brand’s archives, spanning from the 1920s to the present day.
The exhibition will be hosted on a custom-made land in the sandbox, a decentralized gaming platform that allows users to create, own and monetize their own voxel worlds. The land, which is designed by Gucci’s creative director Alessandro Michele, will resemble a museum with different rooms and galleries, each dedicated to a different theme or era of Gucci’s history.
Visitors will be able to explore the exhibition using their own avatars, which can be customized with Gucci accessories and outfits. They will also be able to interact with other visitors, as well as with digital artworks and animations that will enhance the immersive experience. The exhibition will also feature a virtual gift shop, where visitors can purchase exclusive Gucci NFTs and other digital collectibles.
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Gucci Archive is part of Gucci’s ongoing efforts to embrace the metaverse and connect with new audiences through innovative and engaging digital experiences. The brand has previously collaborated with platforms such as Roblox, Zepeto and Genies, as well as launched its own Gucci app and Gucci Garden virtual museum.
Gucci Archive will be open to the public from November 15th to December 15th, 2023. To access the exhibition, visitors will need to download the sandbox app and register for a free account. They will also need to have some SAND tokens, the native currency of the sandbox, to enter the land and purchase items from the gift shop. Gucci Archive is a unique opportunity for fashion lovers and metaverse enthusiasts alike to discover and celebrate the legacy and vision of one of the most influential brands in the world.
Robinhood crypto trading revenues experience ongoing decline in Q3.
Robinhood, the popular online brokerage platform, has reported a significant drop in its crypto trading revenues for the third quarter of 2021. According to its latest earnings report, the company generated $51 million from crypto transactions in Q3, down 78% from the previous quarter when it earned $233 million. This decline reflects the overall slowdown in the crypto market, which saw lower trading volumes and volatility in the past few months.
The company also revealed that crypto trading accounted for only 8% of its total revenue in Q3, compared to 41% in Q2. The majority of its revenue came from equities and options trading, which increased by 11% and 16%, respectively. Robinhood attributed its strong performance in these segments to its growing user base and engagement, as well as its commission-free model and user-friendly interface.
However, the company also faced some challenges and headwinds in Q3, such as increased regulatory scrutiny, legal disputes, cybersecurity incidents, and competition from other platforms. The company said it expects these factors to continue to impact its business in the near future and warned that its revenue and profitability may fluctuate significantly from quarter to quarter.
Robinhood also acknowledged that its crypto trading service depends heavily on the demand for Dogecoin, the meme-inspired cryptocurrency that surged in popularity earlier this year. The company said that Dogecoin transactions represented 62% of its crypto revenue in Q3, down from 75% in Q2. The company added that if the demand for Dogecoin declines and is not replaced by new demand for other cryptocurrencies, its crypto revenue may decline further.
The company also said that it plans to expand its crypto offerings and features, such as adding more coins, enabling deposits and withdrawals, and launching a crypto wallet. The company said that these initiatives are aimed at enhancing its competitive position and attracting more customers to its platform. The company also expressed its optimism about the long-term potential of the crypto industry and said that it believes that crypto assets will play a key role in the future of finance.