Fashion giant Gucci announced that it has officially entered into a partnership with Yuga Labs, the company behind the well-known NFT project “Boring Ape (BAYC)”, in order to further enter the NFT field.
According to foreign media “Business of Fashion” reports, Gucci announced on Monday that it has established a long-term partnership with Yuga Labs, and the focus of the cooperation is to expand the relationship between the two companies’ communities “by exploring the intersection of fashion and entertainment in the metaverse”. interaction between.
Robert Triefus, senior executive vice president of Gucci and CEO of Gucci Vault & Metaverse Ventures, said that through this partnership, Gucci will play an active role in various forms in the ongoing narrative of Yuga Labs’ metaverse game Otherside and NFT project 10KTF.
Additionally, Gucci will begin participating in Otherside this week. “We’re really looking forward to showing how this partnership opens up endless opportunities in Otherside,” Yuga Labs creative director Michael Figge said in a press release.
Robert Triefus mentioned at a public event last week that Gucci still sees a long-term opportunity in the Web3 space to build community, encourage customer loyalty, and ultimately generate revenue. He described the early frenzy surrounding NFTs as a “Wild West” period, and the market’s pullback from its late 2021 highs as a “correction.” He added that the NFT market is now in a more rational state, and Gucci will make full use of the expertise of creative talents through strategic partnerships.
In terms of getting involved in the field of cryptocurrency and blockchain games, Gucci has taken an important step. It has previously formed a Web3 team and opened an online store Gucci Garden on the Roblox game platform.
As for Gucci’s cooperation with Yuga Labs this time, there seems to be traces to follow. In August last year, Gucci allowed consumers to directly use ApeCoin (APE) to shop at some of its stores, becoming the first well-known brand to accept the boring ape ecological token APE as a payment method.
