High-end luxury fashion brand Gucci launched a collection of NFTs that outfitted existing NFTs in new clothes. Here’s a look at the collection.
What Happened: Gucci launched the 10KTF Gucci Grail collection with digital artist Wagmi-san. The NFTs were revealed earlier this week and show NFTs from 11 existing well-known NFT collections now outfitted in new clothes, providing a unique take on NFTs and intellectual property rights.
“As it so happen when creativity encounters curiosity, something unimaginable becomes a reality, ushering in a new era of creativity across dimensions,” the project description says.
The new NFTs were mintable from a mint pass. A total of 5,000 passes were available with some given as community rewards, some given to team members and others were offered to Gucci Discord members. The mint passes have a cost of 1 Ethereum (CRYPTO: ETH) each.
The passes could be exchanged for a 10KTF NFT or expired worthless.
There are a total of 4,253 items in the 10KTF Gucci Grail collection on OpenSea, which are broken down as NFTs outfitted from existing NFTs in the following collections:
- Bored Ape Yacht Club: 1,381
- Mutant Ape Yacht Club: 840
- World of Women: 494
- 0n1 Force: 404
- Cool Cats: 282
- CrypToadz: 173
- Pudgy Penguins: 166
- Bored Ape Kennel Club: 123
- Wolf Game: 121
- Forgotten Runes Wizard Cult: 118
- Gutter Cat Gang: 69
Today marks the final reveal of #10KTFGucciGrail created by the House in collaboration with Wagmi-san from @10ktfshop. With the custom PFP looks delivered to those who minted, it’s time for #AlessandroMichele to head back to Rome and search for new adventures. Stay tuned. pic.twitter.com/o9kDlFI9pQRelated Link: How To Buy NFTs— gucci (@gucci) March 24, 2022
Why It’s Important: Trading volume on the 10KTF Gucci Grail collection has topped 1,400 ETH, or more than $4.3 million
The floor price on the collection is 0.99 ETH, sitting right around the mint price of the mint pass. Some of the more rare collections have higher floor prices.
The current lowest floor price NFT in the collection comes from Wolf Game. The floor price for a 10KTF Bored Ape is 1.75 ETH.
Gutter Cat Gang, which has the least NFTs in the collection, has a floor price of 1.43 ETH.
The top sale from the 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 with all of them having varying traits.
The collection comes from the well-known luxury fashion brand Gucci, which is owned by Kering (PA:PRTP) SA (OTC: PPRUF), and shows how adding clothes or additional traits to existing NFTs could be well-received by the NFT community. The collection also shows how owning NFTs can lead to additional monetization opportunities such as creating an entirely new collection and upgrading already owned NFTs.
Gucci is increasing its presence in the NFT and metaverse space with several collections and a land purchase inside The Sandbox (CRYPTO: SAND) in February.
Holding a 10KTF Gucci Grail could also provide an additional utility with future drops and items on the 10KTF roadmap connected to the project.
Photo: Gucci Twitter (NYSE:TWTR)
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