NFT Evening NFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
    NFT Evening NFT Evening
    News

    Home » News » Gucci NFT Sells For Only $25K After Much-Hyped Auction

    Gucci NFT Sells For Only $25K After Much-Hyped Auction

    By TheoJune 4, 2021Updated:September 21, 20222 Mins Read

    An update on the Gucci NFT sale mentioned a few days ago here at NFT Evening. Despite the Gucci name and decent press coverage, the auction at Christie’s ended with a respectable $25,000 final price. While that is a huge number for the average up-and-coming digital artist, it’s a significant let-down for Gucci.

    Proceeds from the NFT are being donated to UNICEF USA to support COVAX, fighting coronavirus worldwide. Gucci also partnered with Offsetra to balance out the environmental cost of minting the NFT. Auction house Christie’s still seemed upbeat about crypto art as a whole, telling ArtNet it was “empowering creative people everywhere.”

    This Gucci NFT sold at Christie's for $25,000 in a jarring hiccup for the crypto art world.
    This Gucci NFT sold at Christie’s for $25,000 in a jarring hiccup for the crypto art world. Credit: Gucci.

    Lessons from the Gucci NFT experience

    It’s easy to view the Gucci auction as a sign that the NFT bubble has burst. But there are many issues at play with a project such as this. The fashion world may not overlap with the crypto-buying world in a big enough way to have existing NFT-friendly buyers at the ready. And despite being auctioned by Christie’s, fashion industry buyers might not have been comfortable with the technology at play. Gucci’s NFT sale might have been a victim of being a little too cutting edge.

    This highlights how simply packaging an idea as an NFT doesn’t guarantee you success — or failure. The video, “Aria”, was well-produced and had an experimental feel to it, much like the most popular digital art pieces. But despite the diversity of the crypto art world, there may be some styles that don’t do as well as others.

    Whether companies like Gucci will try more NFTs in the future is uncertain. What is certain is that this was a very respectable first step for the storied fashion house. Here’s hoping there are more to follow.

    Join Our New "To The Moon" daily Newsletter

    Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚

    Thank you!

    You have successfully joined our subscriber list.

    .

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Gucci
    Previous ArticleNFT Pixel Project Marks Completion with Million-Pixel Auction
    Next Article An NFT Evening With Artist Alex Benedith
    Theo
    • LinkedIn

    Theo is NFTevening co-founder. He has been in the digital marketing & Media industry for the past 7 years and is involved in several big publishing companies - Reaching 35Millions users monthly across 20 different countries. He is a nostalgic gamer, a Witcher-fan and a huge NFT-enthusiast !

    More great NFT Evening content:

    Alethea AI Launches Text Prompt to NFT Avatar App: CharacterGPT

    January 26, 2023

    Pudgy Penguins Lil Pudgys Can Now Travel Across Chains!

    January 25, 2023

    GEN-X NFTs: The ’80s-Themed Collection Designed for an Entire Generation

    January 25, 2023

    Queer Museum of Digital Art Drops First Artist Grant Program NFT

    January 25, 2023

    Floor Acquires WGMI.io to Help Achieve its Mission

    January 25, 2023

    Art Blocks Announces an Official Partnership With Bright Moments

    January 25, 2023

    Ex-Konami Team To Launch an MMORPG On ImmutableX

    January 25, 2023

    Porsche NFT Collection Flops Post Drop, Called a “Cash Grab”

    January 25, 2023
    Latest NFT News

    Alethea AI Launches Text Prompt to NFT Avatar App: CharacterGPT

    January 26, 2023

    Pudgy Penguins Lil Pudgys Can Now Travel Across Chains!

    January 25, 2023

    GEN-X NFTs: The ’80s-Themed Collection Designed for an Entire Generation

    January 25, 2023

    Queer Museum of Digital Art Drops First Artist Grant Program NFT

    January 25, 2023

    Floor Acquires WGMI.io to Help Achieve its Mission

    January 25, 2023

    PEDIGREE® Enters The Metaverse To Combat Pet Homelessness

    January 25, 2023

    Art Blocks Announces an Official Partnership With Bright Moments

    January 25, 2023

    Ex-Konami Team To Launch an MMORPG On ImmutableX

    January 25, 2023
    Get The FREE Exclusive Report
    CLICK HERE

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Collaboration and Press Releases
    • Job Opportunities
    • About Us
    • Contact Us
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.