Gucci has announced a multi-year partnership with Yuga Labs behind the NFT collection Bored Ape Yacht Club, according to Business of Fashion.
This collaboration will enable the exploration of the intersection between fashion and entertainment in the metaverse, with Gucci branded digital items expected to appear in Yuga Labs’ virtual world Otherside towards the end of March.
Robert Triefus, CEO of Gucci Vault & Metaverse Ventures, has commented on the downturn in the NFT market, describing it as a “correction”, yet still perceiving a long-term potential to build community in the Web3 space.
Prior to this, Gucci had acquired a virtual piece of land in the metaverse of The Sandbox project.
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