Gucci has purchased $25,000 in RARE tokens in order to join the SuperRareDAO, a DAO founded by NFT marketplace SuperRare.
Gucci’s investment will finance the Vault Art Space, an exhibition featuring a selection of NFT artworks by 29 artists.
The project comes at a time when many premium businesses are introducing NFTs and exploring alternative ways to employ blockchain technology.
The exhibition, titled “The Next 100 Years of Gucci,” is a series of collectible art pieces that consider Gucci’s heritage and future.
The exhibition will be on display and sold on Vault’s website, hosted by Gucci, in three drops. A first drop will take place between June 23 and July 1, 2022, followed by a second drop between July 7 and July 15. The third drop will likely take place between July 21 and July 29.
Gucci has been involved in multiple Web3 initiatives so far; in January it launched the “SuperGucci” NFT collection in collaboration with Superplastic. Last month, Gucci started accepting cryptocurrency as a means of payment in its stores in the United States.