Gucci signs multi-year partnership with Yuga Labs

The Florentine house Gucci has tied a partnership with the creator of the NFT Bored Ape Yacht Club, Yuga Labs. The alliance aims to bring the communities of both companies.

While Gucci announced last year that it would begin supporting payments in ApeCoin, the native token of Yuga Labsthe luxury brand announced this Monday a multi-year partnership with the start-up specialized in non-fungible tokens.

Continuing to explore the Metaverse, the House comes together with @yugalabs. Stay tuned as a new narrative takes shape, blurring the boundaries between the physical and digital. pic.twitter.com/v60mzcgqqY

– gucci (@gucci) March 27, 2023

According to BusinessOfFashionthe goal is “to expand engagement across each company’s communities by exploring the intersection between the mode and the entertainment in the metaverse”.

Robert Triefus, executive vice president of Gucci and head of Gucci Vault & Metaverse Ventures, said this would give the company “an active role” in Otherside, Yuga Labs’ metaverse, as well as in the “ongoing narrative” of 10KTF. The famous Italian company had already collaborated with the 10KTF platform before its acquisition by Yuga Labs.

We’re excited to show how this partnership extends to endless opportunities in Otherside,” said Michael Figge, creative director at the NFT unicorn. Gucci’s involvement in Otherside is expected to begin this week, according to BoF.

Gucci Dive into Web3 in 2021 with the launch of a first NFT collection. Recently, the firm introduced Gucci Vault Land, an “immersive experience” set in the metaverse The Sandbox.

Supported by a16z, Yuga Labs also owns the Cryptopunks and Meebits collections since last summer.

Follow Corners.en on Twitter, Linkedin, Facebook or Telegram to not miss anything. Subscribe to our crypto newsletter to receive a news summary every week.