Gucci forms a partnership with the company behind Bored Ape Yacht Club

Minty_Annn

03/27

Gucci has entered a multi-year partnership with Yuga Labs, the web3 company behind several well-known NFT collections including Bored Ape Yacht Club, CryptoPunks, Meebits, and 10KTF, to explore the intersection between fashion and entertainment in the Metaverse. The collaboration will extend engagement between the two companies' communities, with Gucci set to participate in Otherside, Yuga Labs' Bored Ape-themed virtual world and game.

Gucci's senior EVP, Robert Triefus, said the company views web3 as a long-term opportunity for building community, encouraging customer loyalty, and generating revenue. Yuga Labs raised $450m at a valuation of $4bn last March and its NFT collections have gained significant popularity. The partnership is seen as a way for Gucci to extend its reach in the Metaverse while also experimenting with NFTs.

Read more: https://www.businessoffashion.com/articles/technology/gucci-teams-up-with-company-behind-bored-ape-yacht-club/

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