- Gucci and Yuga Labs partner to bring fashion NFTs to the Otherside.
- The two companies entered into a multi-year partnership in their quest to interconnect Web3 and fashion.
- BAYC’s price floor rose slightly following this news.
Leading luxury fashion brand Gucci continues its foray into the world of NFTs and the Metaverse with a new partnership with Yuga Labs. Gucci is one of many fashion brands entering the NFT space. Yuga Labs, on the other hand, is the creator of the popular NFT project Bored Ape Yacht Club (BAYC).
Gucci and Yuga Labs Partner to Explore Web3 and Fashion
According to reports It was published The Italian fashion giant will use the deal with Yuga Labs to explore the convergence of fashion, Web3 and entertainment, according to the Business of Fashion on Monday. Gucci also said through its official Twitter account that the target of the collaboration is:Blurring the boundaries between physical and digitall.
— Gucci (@gucci) March 27, 2023
With the multi-year partnership, Gucci reportedly expects an “active role” in the Yuga Labs project Otherside and the 10KTF collection. Details of the collaboration show that the luxury fashion house will begin its journey at 10KTF this week, followed by Otherside.
News from Yuga Labs, leaders of Gucci and Web3, lowest price Top of the BAYC NFT collection. At the time of writing, NFT’s lowest price has increased by 1.2% in the last 24 hours to about 60.697 ETH, or $104,850.
Yuga Labs was founded in 2021 and raised $450 million in a seed round in March 2022, valuing the company at $4 billion.