Some of Gucci’s digital accessories on Roblox are turning a huge profit for resellers in the game. The catch? These accessories are not NFTs.
Gucci recently launched Gucci Garden, its first experiential event on Roblox – a virtual installation inspired by the fashion powerhouse’s “Archetypes” event in Florence, Italy.
On May 17, the event featured a limited digital version of the “Gucci Dionysus Bag with Bee” bag for one hour – with over 400 users snapping it up for 475 Robux (roughly $6).
On cue, resellers started making the “limited edition” bag available shortly afterward, and things got really weird when the bag suddenly re-sold for 350,000 Robux (about $4,115).
Yes, you heard that right. Over $4k for a digital Gucci bag – almost $800 more than the real bag’s price of $3,400!
The sale naturally signaled players to frantically start buying random in-game Gucci items that they had previously overlooked, in the hope that any of them would then re-sell for a lot more. Players are now stocking up on any item which mentions the word “collectible” in its description.
And here is where it gets even weirder. As Reddit founder Alexis Ohanian pointed out on Twitter, the earnings from the resale of virtual items are not transferable off-platform – unlike when NFTs are auctioned, so it’s really a mystery what the seller will do with all those Robux.
A Gucci bag in Roblox resold for 350,000 Robux or roughly $4,115. The same purse IRL costs $3,400.
Remember: this Roblox purse is not an NFT and thus has no value/use/transferability outside the Roblox world-yet it's worth more than the physical one.
Watch this space. pic.twitter.com/m4WjfC1Eq1
— AlexisOhanian.eth 7️⃣7️⃣6️⃣ (@alexisohanian) May 24, 2021
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