Gucci and Yuga Labs Join Forces to Explore Fashion in the Metaverse
Both influential organizations will collaborate and explore the intersection of fashion and entertainment in the metaverse.
All you need to know about the tie-up between Gucci and Yuga Labs
Gucci, a high-end luxury fashion brand, is expanding its Web3 footprint by partnering with Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT project.
According to a report from The Business of Fashion, the Italian fashion house will work with Yuga to explore the "intersection of fashion and entertainment in the metaverse," giving Gucci "an active role in Otherside and 10KTF's continuing narrative." The fashion label also teased the partnership on Twitter, saying that the collaboration seeks to blur "the boundaries between the physical and the digital."
There are not many details yet as to what the partnership would entail. According to Decrypt, the duo is planning to unveil the "first chapter" of the tie-up this week.
The announcement comes on the heels of Yuga Labs' second trip to the Otherside, a gamified experience that connects the company's diverse portfolio of projects, which includes BAYC, CryptoPunks, and Meebits. Previously, Gucci and Yuga collaborated on the Gucci Grail NFT collection, which featured designs by 10KTF creator Wagmi-San.
Besides that, Gucci has made a number of forays into Web3. In February 2022, the company purchased an undisclosed amount of land in The Sandbox metaverse to experiment with virtual experiences. Gucci also purchased $25,000 worth of NFT marketplace SuperRare's native tokens in June to participate in the decentralized autonomous organization (DAO) and create a digital art vault.
Yuga Labs, on the other hand, is a name that needs no introduction in Web3. The company was founded in 2021 and raised $450 million during its seed round in March 2022. Yuga is best known for creating the Bored Ape Yacht Club NFT collection. Last year, Yuga widened its NFT reach by acquiring CryptoPunks and Meebits before launching its metaverse project, the Otherside.