Gucci and Yuga Labs Announce the Launch of NFT-Tied Otherside-Themed Jewelry

Jimmy Aki
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Luxury fashion brand Gucci has announced a metaverse-based partnership with Yugo Labs to launch the Otherside-themed jewelry that will blur the gap between the real and virtual worlds.

Gucci & Yuga Labs Collaboration: A New Path for Luxurious Digital Fashion

On Monday, Yuga Labs, a reputable digital company behind the dominant non-fungible token (NFT) collection of Bored Ape Yacht and Otherside metaverse game, announced the launch of Otherside Relics, a limited-edition series of Gucci products geared towards the NFT sphere.

The Otherside gaming ecosystem centers around several species of aliens called “Koda.”

Players are offered a unique NFT called “Otherdeeds.” This NFT can be used to buy and build virtual land plots within the game’s metaverse landscape.

Under the new collaboration with Gucci, Yuga Labs will create 3,333 sets of KodaPendants, an NFT-geared collaboration representing a formal physical piece of jewelry and integrating NFTs that will unlock several digital benefits within the Otherside metaverse.

The Otherside anticipated jewelry would unlock unique cosmetic options for Otherside NFT avatars. The new otherside-themed phygital NFT jewelry will launch on April 6, 2023, at 06:00 PM.

These pendants can only be purchased with Apecoin, Yuga’s utility token. Each will cost 450 APE, which is $1,917 at press time.

However, the Otherside-themed necklace will be only available via mail to a selected group of countries, including the United States of America, Canada, Kuwait, Saudi Arabia, and the UAE.

Currently, residents in Africa, Asia (except Japan), South America, or Central America must be eligible to receive the pendant.

Gucci and Yuga Labs’ collaboration is not the first time a luxurious fashion brand and reputable NFT-based company have come together to create a physical product geared towards digital ownership.

Last year, Crypto Punks, an NFT project also owned by Yuga Labs, partnered with Tiffany, a luxury jeweler, to create a limited-edition series of 250 NFT necklaces.

Each necklace cost $51,000 and had the design model of Crypto Punk NFT avatars. When it officially launched, all pieces of the NFT-modeled neck pieces sold out instantly, surging the price of crypto punk trading volume in the process.

NFTs and Luxurious Brands — The Perfect Coupling

Non-fungible tokens (NFTs) have grown exponentially over recent years. They hold immense potential, which appeals to diverse sectors, notably the fashion industry.

The fashion industry believes that NFT is the future of digital style, which is why mass adoption and innovations have been integrated. This is because NFTs are the horizon set to propel the fashion industry’s presence in the metaverse.

Several luxurious brands have adopted NFT technology into their brands, such as Moncler, Cult & Rain, Salvatore Ferragamo, Tag Heuer, Burberry, and many more.

During Moncler’s 70th fashion anniversary event in Milan, Arianaee, a popular web3 solution platform, announced it had partnered with the luxury brand.

This collaboration will integrate a web-based custodial system within the Moncler fashion ecosystem and foster a seamless experience for global customers.

Users of Tag Heuer’s luxurious “Connected Calibre E4 smartwatch” can display their NFT artwork collections with verified proof of ownership.

The smartwatch company dedicated the new watch series to NFT enthusiasts. As the first of its kind, Tag Heuer acts as a bridge for NFTs and digital identity to enter the physical world in an exciting form.

Gucci and Yugo Labs’ partnership is the latest addition to this list. The development is exciting and has been anticipated for a while.

NFTs and fashion enthusiasts believe the collaboration will benefit both Gucci and Yugo Labs, considering the positive impact of the CryptoPunks NFT and Tiffany partnership.

The partnership surged the value of CryptoPunk NFT trading volume and huge investment gains for Tifanny as over $12.5 million was raised via sales of the limited-edition necklaces.

With Gucci and Yugo Otherside-themed necklaces set to launch on April 6, we may see a rerun of massive sales and a high surge in Yugo Labs NFTs.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.