A Virtual Gucci Bag Just Sold For More Than A Real One
A Virtual Gucci Bag Just Sold For More Than A Real One
In this day and age, it seems that everything is shifting to digital—our social interactions, our shopping, and even our most prized possessions. In fact, there has been a rise in people spending their money on virtual goods lately, even if they cost more than their physical counterparts.
For example, a virtual bee-embroidered Gucci Dionysus bag just recently sold for 350,000 Robux on the gaming platform Roblox. Such is equivalent to $4,115, which is almost a thousand dollars more than the retail value of the real bag.
The virtual Gucci bag is not an NFT, but rather a digital accessory that can be worn by the user's avatar in the game. Alexis Ohanian, an internet entrepreneur, explained on Twitter that the bag has "no value, use, or transferability outside of the Roblox world," yet it's worth way more than the physical one.
Roblox introduced the virtual Gucci bag as part of an exclusive two-week event called the "Gucci Garden Experience," where users could purchase limited-edition accessories for their Roblox avatars. It may seem ridiculous that anyone would actually spend thousands of dollars on a grouping of pixels, but clearly, there is still a market for those types of intangible commodities.
It's not the only outrageous digital sale that has been made in these past few months, either—one customer recently purchased a $24,000-worth Hermes Birkin bag NFT, which serves no other purpose than to be a collectible.
Selling virtual goods is not a new trend—video game companies have been profiting from such a system for years, selling skins and accessories that can be equipped by players during play. Of course, most of those goods are more reasonably priced to appeal to middle-class gamers—rarely are they marked with luxury price tags like the virtual Gucci bag was.
Gucci has seen the potential of sales in the digital fashion and has partnered with other gaming platforms like Pokemon GO to sell their branded virtual goods there. At this point, it's only a matter of time before virtual goods take over as the most valuable assets you can own.
READ MORE
Discover the top 16 expenses baby boomers should avoid for a secure financial future. From unnecessary gadgets to overspending on luxury items, learn how to prioritize your spending wisely and make the most of your hard-earned money.
Over one-third of American adults have a side hustle alongside their full-time job. Whether you're one of those people already looking for new ideas, or you want to bring in a little extra money every month, here are 20 side hustles you can try—without giving up your 9-to-5 job.
Zatlyn currently serves as Cloudflare's chief operating officer and she has a 5% stake in the company. She's actually the company's second billionaire.
Unhappy with your teeth? Advancements in technology have made dental implants the best option for achieving the perfect smile.
The Oracle of Omaha wasn't always a financial Titan. He was from the middle class, just like you, but he's made incredibly shrewd money decisions over the last several decades, making him one of the richest men in the world. Learn from him as he shares his middle class money advice in this piece.
Investing can be complicated, particularly if you're building your investment portfolio for the first time. Are you a passive investor, or do you want to be involved in the process? Let's explore whether managed or self-directed investing would be best for you.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
