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Gucci and YUGA Labs, the creators of BAYC, enter a multi-year partnership.

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Yuga Labs, the firm Bored Ape Yacht Club (BAYC), CryptoPunks, and Meebits, and Gucci, have announced a multi-year cooperation. According to the press release, the major goal is to investigate “the connection between fashion and entertainment in the Metaverse.”

The Italian high-end luxury fashion brand is consolidating its position as an adopter in Web3 with the most recent action.
Robert Triefus, senior executive vice president for corporate and brand development at Gucci and CEO of Gucci Vault & Metaverse Ventures, recently hinted at a potential long-term commitment in the Web3 sector.

The Business of Fashion said that Triefus compared the early NFTs sector frenzy to a “wild west” era but insisted that the market’s decline from its highs in late 2021 was a point of “correction,” enabling the market to position itself in a more “reasonable” position.

The executive thinks that the next wave of websites has the ability to foster community, promote customer loyalty, and ultimately increase sales. Triefus also reportedly said,
Gucci had previously entered the Web3 marketplace. In 2022, the business collaborated with 10KTF on a project known as “Gucci Grail,” in which Wagmi-san, 10KTF’s “digital artisan,” created apparel and accessories that were used to customize NFTs with the creations of Gucci’s then-creative director, Alessandro Michele. The retailer also created the SuperGucci NFT collection last year.

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