Gucci has entered into a partnership with the creator of the NFT Bored Ape Yacht Club, Yuga Labs. The alliance aims to bring the two companies’ communities closer together.
Gucci is an extremely popular luxury brand with a global reputation. Just recently, the brand announced in a release that it has signed an agreement with Yuga Labs. Indeed, the fashion company intends to use non-fungible tokens to expand its customer base around the world.
The goal is to “expand engagement between each company’s communities by exploring the intersection between fashion and entertainment in the metaverse.”
Robert Triefus, Gucci’s executive vice president and head of Gucci Vault & Metaverse Ventures, said this would give the company “an active role” in Otherside, Yuga Labs’ metaverse, as well as 10KTF’s “ongoing narrative.” The famous Italian house had already collaborated with the 10KTF platform before it was acquired 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.
More and more brands are realizing that they have the opportunity to grow their customer base through NFT. This partnership is not the first step Gucci has taken in the NFT or web3 space. In 2022, Gucci had sold its very first NFT which consisted of a 4-minute video.