Luxury Brand Gucci Collaborates with Bored Ape Creator Yuga Labs for Metaverse Project – Crypto Adoption on the Rise?
In a collaboration with famous NFT issuer Yuga Laboratories, high-end clothing brand Gucci is extending its reach in Web3 and the metaverse.
The popular Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club were created by Yuga Labs, which attracted the attention of the cryptocurrency community (MAYC).
The group also bought CryptoPunks, Meebits, and 10KTF last year and is currently creating Otherside, a gamified metaverse.
An image of an ape hand holding a bottle with a white label bearing a Koda (an NFT avatar from Otherside) and the words “Gucci Yuga Laboratories” below it can be seen in Gucci’s announcement tweet.
“In a place where worlds collide, we appear.”
According to Business of Fashion, the two businesses have agreed to collaborate on projects related to the 10KTF line and Otherside metaverse from Yuga Labs.
According to Robert Tryfus, senior executive vice president of Gucci, the agreement will provide the clothing brand “an active involvement in Otherside and 10KTF’s continuing narrative.”
As both businesses continue to work on fusing the metaverse with fashion, he continued, it might bring the brand and Otherside closer together.
Previous collaboration between 10KTF and Gucci on the Grail line allowed owners of specific NFT collections to add the costumes to their avatars.
In the meantime, Yuga Labs recently debuted its Second Trip for its Otherside universe on March 25 as a brand-new “metaverse” experience, following up on last summer’s First Trip.
Gucci’s extending meta-path
Gucci is familiar with the metaverse. In 2021, the business collaborated with the immensely well-liked Roblox gaming platform to develop the Gucci Garden, a virtual area.
As previously mentioned, Gucci began taking cryptocurrency payments in all of its North American stores in May of last year.
They included Shiba Inu (SHIB), Dogecoin (DOGE), Wrapped Bitcoin (wBTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Shiba Inu (SHIB), and various stablecoins tied to the US dollar.
At the time, Marco Bizzarri, president and CEO of Gucci, remarked, “Gucci is constantly eager to adopt new technologies when they can create a better experience for our customers.
Once BitPay, a cryptocurrency payment processor, announced support for ApeCoin (APE) and Euro Coin (EUROC) in August, Gucci became the first retailer to accept APE through BitPay.
Yuga Labs uses ApeCoin as the main token in its projects and is a contributor to ApeCoin as well as a community member of the ApeCoin DAO.
The upmarket brand debuted NFT collections, including as the “SUPERGUCCI” and “Gucci Grail” lines.
In order to construct its “own virtual universe,” it also bought virtual land in The Sandpit (SAND) metaverse.
In the meanwhile, several prestigious companies, like Gucci, Dolce & Gabbana, Adidas, Coach, and Tommy Hilfiger, as well as online fashion retailers like DressX and The Fabricant, will take part in this year’s Metaverse Fashion Week, which begins today.
The events will once again take place in Decentraland, an Ethereum blockchain-based virtual reality platform, but this year they will also be accessible on the metaverse platform Spatial and through Over, a decentralised augmented reality (AR) layer that seamlessly overlays virtual assets onto the real world.
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