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Luxury Brand Gucci Collaborates with Bored Ape Creator Yuga Labs for Metaverse Project – Crypto Adoption on the Rise?

Luxury fashion brand Gucci has partnered with NFT issuer Yuga Labs to expand its presence in the Web3 and metaverse space. Yuga Labs is the creator of the popular Bored Ape Yacht Club and Mutant Ape Yacht Club and is currently developing its gamified metaverse, Otherside. Gucci will work within Yuga Labs’ Otherside metaverse and its 10KTF collection, and the deal will provide the fashion label with “an active role in Otherside and 10KTF’s continuing narrative,” according to Robert Tryfus, Gucci’s senior executive vice president. The collaboration is part of Gucci’s ongoing efforts to embrace new technologies and create enhanced experiences for its customers. The luxury brand launched NFT collections and purchased virtual land in The Sandbox metaverse to create its own virtual world. It also partnered with Roblox to create a virtual world known as the Gucci Garden and started accepting crypto payments across stores in North America last year. Gucci will participate in this year’s Metaverse Fashion Week, along with other major brands, including Dolce & Gabbana, Adidas, Coach, and Tommy Hilfiger. The events will occur in Decentraland, a virtual reality platform built on the Ethereum blockchain, and will also be accessible on the metaverse platform Spatial and through Over, a decentralized augmented reality layer.

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