There's a new 10KTF collab on the block and it's with none other than... GUCCI!
Let's take a look at some of the things we know about the drop and speculate on what the future may hold.
What is the Gucci Grail?
Gucci Grail is an NFT collection designed by Italian fashion designer, Alessandro Michele. Gucci Grail mint pass owners have the ability to mint the upcoming 10KTF x Gucci collaboration drop. These mint passes are to be paired with a parent-NFT from a variety of different collections in order to form a new one-of-a-kind creation.
Gucci Grail mint pass stats
Mint price: 1 ETH
Bored Ape Yacht Club
Bored Ape Kennel Club
Forgotten Runes Wizard Cult
Gutter Cat Gang
Mutant Ape Yacht Club
World of Women
The photo below is a teaser of the 2 different outfits your PFP can receive from the mint pass. The left side contains Gucci Aria, a red shirt with helmet. The right side, Gucci Love Parade, has a more tropical vibe to it with the yellow shirt and cowboy hat. It hasn't been confirmed whether these are the only color schemes so we'll have to wait until reveal day to find out the full extent of Michele's creations. These NFTs will reveal on March 23rd.
Paper Ape's Analysis
To be honest I don't see the value of a 1 ETH price tag on these NFTs with the information currently available. My speculation on the why the price is so high is for these reasons:
Future use-cases within 10KTF's metaverse
The first reason is pretty obvious for everyone. I've never purchased any Gucci item in my life because they're fucking expensive and I could care less what others think of the brands I wear. This being said, flexing online is much easier and from my experience it has always been a good driver of engagement. If this is your thing, 1 ETH for a flex like this should be no issue.
Think about it: 1 ETH could buy you an IRL jacket from Gucci that people might see you wear once a year. On the other hand, firing off a tweet from a Bored Ape PFP wearing a digital Gucci outfit that you verifiably own is a whole new level of flex that can be seen everyday. Your choice.
My 2nd reason and probably most important for the high price tag is due to the future utility that can be added to this NFT. A few potential options could include:
Digital wearables within 10KTF's metaverse
Special powers within 10KTF's metaverse
Whitelist opportunities for future 10KTF/Gucci drops
10KTF keeps their plans very secretive which is part of the allure this community has and is why it's so difficult to nail down exactly what future benefits this NFT can have. Gucci is a top-tier partnership for 10KTF which continues my bullish sentiment on the project. 10KTF's collections have seen consistent price increase throughout their lifespans and I don't see this momentum slowing down anytime soon.