Gucci and Yuga Labs have announced a partnership to explore the metaverse, with Gucci creating clothing for Yuga Labs’s metaverse project, the Otherside, and in the 10KTF NFT collection. According to a tweet from Gucci, the collaboration will blur the boundaries between the physical and digital worlds. Although details about the partnership are still limited, it is expected to be a multi-year agreement.
Robert Triefus, Gucci’s senior executive vice president, corporate and brand strategy, and chief executive of Gucci Vault & Metaverse Ventures, said the partnership with Yuga Labs would give Gucci an active role in Otherside and 10KTF’s continuing narrative, unfolding in multiple forms. Gucci has previously worked with Yuga Labs and the 10KTF collection.
Yuga Labs recently released an NFT collection on the Bitcoin blockchain and helped organize an exhibition at a shopping center near the Louvre. However, one of Yuga Labs’s founders, Wylie Aronow, recently announced that he is stepping back from some responsibilities at the company due to a severe heart condition. Aronow addressed a theory popularized by artist Ryder Ripps that the Bored Ape Yacht Club (BAYC) collection is threaded with alt-right imagery in a letter published on CoinDesk. He denied the allegations and emphasized his commitment to left-leaning politics and his longtime interest in Hinduism and Buddhism.
The BAYC collection, which consists of 10,000 unique digital apes, has been a significant success, with individual apes selling for millions of dollars. It has also sparked interest in NFTs and the metaverse. Yuga Labs has become a leader in web3, and the partnership with Gucci is expected to strengthen its position.
The metaverse is a virtual world where people can interact with each other in real-time through avatars. It is seen as the next frontier in the digital world, and many companies are exploring its potential. Gucci and Yuga Labs are the latest companies to enter the metaverse, and their partnership is expected to create new opportunities for both companies.
In conclusion, the collaboration between Gucci and Yuga Labs is expected to create a new narrative that blurs the boundaries between the physical and digital worlds. Gucci will create clothing for Yuga Labs’s metaverse project, the Otherside, and the 10KTF NFT collection. The partnership is expected to be a multi-year agreement and will give Gucci an active role in Otherside and 10KTF’s continuing narrative. The BAYC collection has been a significant success, and Yuga Labs has become a leader in web3.