This item cannot be used outside of the video game platform on which it was purchased.
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Brand Renegades
Discover how two entrepreneurs used unconventional business strategies to turn their startup into a multimillion-dollar company.
June
2, 2021
3 min read
Would you buy a virtual bag that has no apparent ‘use’? There are people who do. In this sense, a virtual Gucci item sold for more than $ 4,000 and it is not even a non-fungible token (NFT).
The Gucci Dionysus bag was sold for $ 4,115 (approximately 81,868 Mexican pesos) on the Roblox gaming platform. Buyers used Roblox virtual money, which does not count as a cryptocurrency and can only be used in that application.
The surprising thing is that it is not an NFT, that is, it has no value, use, it is not interchangeable, and it cannot be used outside of Roblox. In addition, the item was more expensive than an original Gucci Dionysus physical bag, which have prices ranging from 1,980 euros ($ 2,418) to 2,200 euros ($ 2,686), according to the Gucci Spain virtual store.
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 (@alexisohanian) May 24, 2021
In the Farfetch.com store in Mexico, the bags of this line are at a price between 49,900 pesos and 53,400 pesos.
What is Roblox and what does a Gucci bag do on the platform?
It is a gaming platform that, in addition to playing, allows developers to create video games from imaginary virtual universes. Recently, taking advantage of the boom in sales of virtual objects, they launched the Gucci Garden Experience , where creators could buy brand items to dress their characters.
Apparently, Gucci items were available on the platform for a short time and at reasonable prices. However, once the sale was over, they began to be resold at prices that raised the value of the bags, even higher than their physical counterparts.