Italian high-end luxury fashion brand Gucci continues to deepen its toes into web3 and the metaverse. The company has now partnered with Yuga Labs, the creator of prominent NFT collections, including Bored Ape Yacht Club, as part of Gucci’s broader strategy of "continuing to explore the metaverse."
Although Gucci did not reveal many details about the alliance, the brand already sounded its aim, namely to blur the boundaries between the physical and digital through the partnership.
"Continuing to explore the metaverse, the House comes together with Yuga Labs. Stay tuned as a new narrative takes shape, blurring the boundaries between the physical and digital," the fashion house tweeted.
According to a report by Business of Fashion, the deal between Gucci and Yuga Labs is a multi-year partnership that aims to widen engagement between each company's communities as they explore the intersection between fashion and entertainment in the virtual world.
Robert Triefus, Gucci's senior executive vice president, corporate and brand strategy, and chief executive of Gucci Vault & Metaverse Ventures, said the collaboration would give Gucci an active role in the continuing narrative of the Otherside and 10KTF. Based on the surmises, Gucci will bring its splendid fashion designs to the Yuga Lab's products to make them even more appealing to high-profile investors.
Michael Figge, Yuga Labs' chief creative officer, commented that his company looks forward to showcasing how the collaboration extends to endless opportunities in the Otherside. According to the report, Gucci's participation in the Otherside is set to commence as early as this week.
This is not the first time Gucci will be joining hands with Yuga Labs for a digital experience. Last year, the prominent fashion brand worked with the NFT company on the Gucci Grail collection, using 10KTF creator Wagmi-San's designs.
Gucci's most recent synergy with Yuga Labs underlines its growing commitment to tap into the metaverse. The success of the brand’s earlier collaborations also suggests it will continue to strengthen its presence in web3, seeking new and better opportunities for its consumers.