{"id":135666,"date":"2023-03-27T11:53:49","date_gmt":"2023-03-27T11:53:49","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=135666"},"modified":"2023-03-27T12:49:50","modified_gmt":"2023-03-27T12:49:50","slug":"luxury-fashion-brand-gucci-teams-up-with-yuga-labs-to-reinforce-web3-presence","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/luxury-fashion-brand-gucci-teams-up-with-yuga-labs-to-reinforce-web3-presence\/","title":{"rendered":"Luxury Fashion Brand Gucci Teams Up With Yuga Labs to Reinforce Web3 Presence"},"content":{"rendered":"<p style=\"text-align: justify\"><a href=\"https:\/\/www.gucci.com\/us\/en\/\" target=\"_blank\" rel=\"noopener\"><strong>Gucci,<\/strong><\/a> the Italian high-end luxury\u00a0fashion house, has joined hands with popular non-fungible token (NFT) powerhouse Yuga Labs to boost its footing in the <a href=\"https:\/\/crypto-economy.com\/what-is-web3\/\" target=\"_blank\" rel=\"noopener\"><strong>Web3<\/strong><\/a> space by, &#8220;<strong>exploring the intersection between fashion and entertainment in the metaverse.&#8221;<\/strong><!--more--><\/p>\n<p style=\"text-align: justify\">Popularity of crypto subecosystems like Web3, metaverse and NFT is skyrocketing each passing day. As these technologies continue tomature and gain mainstream adoption, more and more companies from different industries flock to embrace this evolving intersection of augmented reality (AR) and virtual reality (VR).<\/p>\n<p style=\"text-align: justify\">Multi-billion-dollar companies such as <strong>Meta, NVIDIA, Nike, United Postal Service (UPS), JP Morgan<\/strong> including scores of other companies have already joined the Web3 craze. Recently, as per reports, the world\u2019s largest retailer, Amazon, has also started experimenting with Web3 technology.<\/p>\n<p style=\"text-align: justify\">Amid this growing interest, major luxury fashion brands including Prada, Versace, and Balmain among a host of other fashion brands have jumped on the Web3 bandwagon with several features like NFT releases, crypto payment options and digital stores in the metaverse.<\/p>\n<h2 style=\"text-align: justify\">Fashion in the Metaverse<\/h2>\n<p style=\"text-align: justify\">In the latest development, Gucci announced a multi-year partnership with Bored Ape Yacht Club\u2019s Yuga Labs. The deal will reportedly bolster engagement between both the company\u2019s communities by traversing the convergence of the fashion and entertainment industries in the metaverse. In a statement by Robert Triefus, Gucci Senior Executive of Gucci Vault &amp; Metaverse Ventures, the company is excited to reveal its interdisciplinary collaboration with Yuga Labs.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Continuing to explore the Metaverse, the House comes together with <a href=\"https:\/\/twitter.com\/yugalabs?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@yugalabs<\/a>. Stay tuned as a new narrative takes shape, blurring the boundaries between the physical and digital. <a href=\"https:\/\/t.co\/v60mzcgqqY\" target=\"_blank\">pic.twitter.com\/v60mzcgqqY<\/a><\/p>\n<p>&mdash; gucci (@gucci) <a href=\"https:\/\/twitter.com\/gucci\/status\/1640307726319513602?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">March 27, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-135700 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/03\/11-15.jpg\" alt=\"Luxury Fashion Brand Gucci Teams Up With Yuga LAbs to Reinforce Web3 Presence\" width=\"990\" height=\"305\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-15.jpg 990w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-15-300x92.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/03\/11-15-768x237.jpg 768w\" sizes=\"(max-width: 990px) 100vw, 990px\" \/><\/p>\n<p style=\"text-align: justify\">The partnership will also help the two giants to explore the Web3 space along with amplifying their focus on various other projects such as with The Otherside and 10KTF. In March 2022, Gucci inked a deal with popular NFT project, 10KTF, to launch its own non-fungible token (NFT) collection. The fashion brand will also play an active role in the Otherside metaverse, Yuga Labs\u2019 virtual gaming platform. Triefus added,<\/p>\n<p style=\"text-align: center\"><em>&#8220;We are excited to unveil this multifaceted partnership with Yuga Labs, a leader, and creative pioneer in web3. This will give us an active role in Otherside and 10KTF\u2019s continuing narrative, unfolding in multiple forms.&#8221;<\/em><\/p>\n<h2 style=\"text-align: justify\">Gucci&#8217;s Tryst with Crypto<\/h2>\n<p style=\"text-align: justify\">This is not the first time Gucci has dabbled with crypto. Last year, the Italian fashion house announced that it will <strong>accept Bored Ape Yacht Club-affiliated, ApeCoin (APE), at select U.S. stores<\/strong>, becoming the first major brand to accept payments in APE. Not only this, the iconic fashion house entered the metaverse in the same year, by<strong>\u00a0buying a plot of digital land in The Sandbox.\u00a0<\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Now accepting <a href=\"https:\/\/twitter.com\/apecoin?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@ApeCoin<\/a> payments via <a href=\"https:\/\/twitter.com\/BitPay?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@BitPay<\/a>, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House&#39;s exploration of Web3.<\/p>\n<p>&mdash; gucci (@gucci) <a href=\"https:\/\/twitter.com\/gucci\/status\/1554465183212478468?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">August 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">In 2021,\u00a0Gucci auctioned a non-fungible token inspired by its Fall\/Winter 2021 collection hosted by auction house Christie&#8217;s. Some months later,\u00a0the brand unveiled <strong>Gucci Garden on\u00a0Roblox<\/strong>\u00a0to mark its\u00a0100th anniversary, allowing the platform&#8217;s then-42 million users to\u00a0purchase collectibles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gucci, the Italian high-end luxury\u00a0fashion house, has joined hands with popular non-fungible token (NFT) powerhouse Yuga Labs to boost its footing in the Web3 space by, &#8220;exploring the intersection between fashion and entertainment in the metaverse.&#8221;<\/p>\n","protected":false},"author":21,"featured_media":135721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[112,102,84,74],"tags":[5516,5402,5453],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/135666"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=135666"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/135666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/135721"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=135666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=135666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=135666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}