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

cryptonews.com:

Luxury fashion brand Gucci is diving even deeper into the Web3 and the metaverse worlds, announcing a collaboration with the popular blockchain technology company and non-fungible-token (NFT) issuer Yuga Labs. 

Gucci announced the partnership on Monday, immediately catching the eye of the Cryptoverse, given that Yuga Labs is the creator of the massively popular Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). The team also acquired CryptoPunks, Meebits, and 10KTF last year. Beyond that, it's preparing its gamified metaverse Otherside.

The tweet shared by Gucci shows an Ape hand holding a bottle with a white label depicting a Koda (an NFT avatar from Otherside) and the words "Gucci Yuga Labs" underneath.  

The account for Otherside shared the same teaser, saying: 

"In a place where worlds collide, we appear."

Business of Fashion reported that the two companies signed a multiyear partnership to work within Yuga Labs' Otherside metaverse and its 10KTF collection. 

Per Gucci’s senior executive vice president, Robert Tryfus, the deal will provide the fashion label with "an active role in Otherside and 10KTF's continuing narrative." It could bring the brand closer to Otherside, he added, as both companies continue to work on joining metaverse and fashion. 

10KTF previously worked with Gucci on the Grail collection, enabling owners of certain NFT collections to overlay the outfits onto their avatars.

Meanwhile, just days ago, on March 25, Yuga Labs launched its Second Trip for its Otherside universe as a new "metaverse" experience, following last summer’s First Trip. 

Gucci is no stranger to the crypto/metaverse world. It partnered with the hugely popular Roblox platform in 2021 to create a virtual world known as the Gucci