The Italian fashion house Gucci has signed a long-term partnership with Yuga Labs, the studio behind the NFT collection Bored Ape Yacht Club. The news comes from Business of Fashion.
The deal will broaden collaboration between the communities of the two brands by “exploring the intersection of fashion and entertainment in the metaverse,” the press release said.
As part of the collaboration, Gucci-branded digital items will appear in late March in Otherside, the virtual world owned by Yuga Labs.
Gucci Vault & Metaverse Ventures CEO Robert Triefus said that the company views the NFT market downturn as a “correction.” According to him, Gucci still sees long-term opportunities to build a community in the Web3-segment.
Earlier the fashion house acquired virtual land in the The Sandbox metaverse project.
In May 2022 Gucci announced a pilot project to accept digital-asset payments in five U.S. stores.
In August the company added support for the cryptocurrency ApeCoin (APE), launched by Yuga Labs in March with the conduct of an airdrop.