Gucci Partners With Yuga Labs to Work On Their Metaverse Project and an Upcoming NFT Collection
Gucci has just announced their new collaboration with Yuga Labs involving clothing lines for Yuga Labs’ project, the Otherside, and one of their upcoming NFT collections.
Photo: Gucci via Art News
The Otherside by Yuga Labs will be a metaverse with gaming elements that make it different from others. This is also the first metaverse that includes members of the community and involves them in the developmental stages of the project.
Yuga Labs is based on creating experiences and telling stories through the metaverse and Web3, a virtual community. They launched in April of 2021 and their first NFT collection sold out almost immediately. Their founding NFTs are also the most recognizable to date, the Bored Ape Yacht Club and Yuga Labs as a whole is currently the fastest growing startup in the Web3 community.
Photo: Gucci. via Twitter
This new partnership will last for multiple years and become an ongoing project and collaboration for all companies involved. Robert Triefus who is Gucci’s senior executive vice president, corporate and brand strategy, and chief executive of Gucci Vault and Metaverse Ventures said that since the NFT industry has stabilized from the starting chaos, it will be extremely beneficial for Gucci with growing customer loyalty, creating partnerships, and having an interesting creative outlet.
Photo: Gucci via Twitter
Triefus also mentioned that Gucci is very excited to be working with them to expand their involvement in the metaverse. He said, “We are excited to unveil this multifaceted partnership with Yuga Labs, a leader and creative pioneer in web3.”
With Gucci being one of the most famous and well-known luxury brands globally, it is no surprise that Yuga Labs has done very impressive work. This collaboration will be a very interesting one to see through. There is an endless amount of room for creativity with this new partnership and as of right now, we do not know much so all we can do is wonder about the possibilities.
