Gucci's Gucci Material NFT holders can now redeem their tokens for a Gucci bifold wallet or a co-branded duffle bag, created in partnership with 10KTF. The NFTs were minted in March, and the redemption process is available on 10KTF.shop. One Gucci Material NFT is equivalent to the wallet, while three tokens are needed for the duffle bag.
The wallet and duffle bag offer better value, making them appealing to Gucci fans and collectors. Material NFTs were a reward for participating in a 10KTF mission, indicating a growing trend of engagement-based strategies in the future.
Luxury brands are exploring NFT rewards for token holders to connect digital and physical luxury goods and leverage exclusivity, scarcity, and rarity, signifying a trend of luxury brands entering the Web3 space.
