Popular fashion luxury brand Gucci is taking a major step into the world of Web3 as it has been recently revealed that the fashion company has purchased $25,000 worth of rare tokens to join the SuperRareDAO (A DAO founded by SuperRare, an NFT marketplace). Gucci’s purchase will fund the Vault Art Space, a special NFT exhibition featuring different artworks by 29 artists. The exhibition is tagged “The Next 100 Years of Gucci” and it is a selection of collectible digital assets that consider Gucci’s heritage and long-term future.

Co-founder of SuperRare and Chief Product Officer, Jonathan Perkins described the Vault Art Space as Gucci’s online domain which will be run on SuperRare technology. The exhibit will be an umbrella of artistic references although the major plan is to collaborate with artists and sell art. The relationship between the two companies was announced in January and will be implemented in stages culminating in the launch of an NFT gallery on the SuperRareDAO website later in the year.

The special NFT exhibition will be displayed and marketed on Vault’s website, co-hosted by Gucci in three drops. The first drop will hold from 23rd June to 1st July 2022, followed by a second drop from 7th to 15th July. The dates for the third drop are still generally speculated to be between the 21st to 29th of July. This alliance between the two companies represents Gucci’s first participation in a DAO and gives them administrative-level authority in the SuperRare ecosystem. Through collaborations like this in the coming years, Gucci is aiming to enter and take part in a more decentralized and inter-connected economy.

Featured image source: nftgators.com