Italian luxury brand Gucci is venturing into the digital space with a new project called Otherside, developed by Web3 specialist company YugaLabs. The brand aims to break down the barriers between the physical and digital realms by creating innovative experiences for its community.
Gucci’s digital strategy comes shortly after the launch of its circular fashion collection made from recycled materials. Despite the departure of former creative director Alessandro Michele, Gucci’s 3.0 vision has helped it become the second most popular brand on Lyst in the fourth quarter of 2022. The brand has a history of successful collaborations with platforms like Roblox, The Sandbox, and Discord. Now, Gucci is bolstering its network of partners by teaming up with YugaLabs, a company known for its flagship collection Bored Ape Yacht Club and its ownership of popular lines such as CryptoPunks, Meebits, and 10KTF.
YugaLabs has also created Otherside, a digital space in the Web3 realm, as part of its partnership with Gucci. The company’s vast non-fungible token (NFT) portfolio includes the 10KTF Gucci Grail NFT series, developed by artist Wagmi-san. With Otherside, Gucci aims to merge fashion and entertainment in the metaverse, offering its community unique and immersive experiences. While specific details about the activations have not been disclosed, Gucci has generated excitement and anticipation among its audience through teasers on social media platforms like Twitter.
By investing in Web3 and embracing the metaverse, Gucci aims to strengthen its connections with digital communities and position itself as a trailblazer in the realm of NFTs. This commitment to the digital space could potentially drive the brand’s growth, as it experienced only a 1% increase in 2022, according to its parent company Kering’s financial results.
Useful links:
– [YugaLabs](https://www.yugalabs.com/) – Official website of YugaLabs, the Web3 specialist company collaborating with Gucci.
– [Gucci](https://www.gucci.com/) – Official website of Gucci, the Italian luxury house delving into the digital space with Otherside.
