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Gucci and Yuga Labs unveil new collaboration
A must for avid NFT collectors: Gucci and Yuga Labs collaborate to unveil a limited edition KodaPendant NFT, accompanied by a physical necklace.
What is this partnership between Gucci and Yuga Labs?
On Monday, Yuga Labs announced the upcoming launch of Otherside: Relics by Gucci. This consists of a limited series of physical Gucci products and corresponding NFTs. They are linked to the lore of the Otherside, Yuga’s metaverse game.
The KodaPendant is the first item in this series. It is an improved version of the existing Koda and Vessel NFTs. It will give the owner a branded chat handle in the Otherside and has visual upgrades for the 3D avatars in the Otherside, such as Trail VFX. 3D avatars should be available this summer.
The sale is set to start on Thursday 6 April at 6:00 PM ET and will continue for 24 hours or until all KodaPendants are sold out. A total of 3,333 items will be available for purchase exclusively with Apecoin, Yuga’s native cryptocurrency. The price is 450 APE, which is equivalent to $1,940 at the time of writing. To acquire one, buyers must already own at least one Koda or vessel NFT. Customers will only be able to purchase one per transaction for one Koda or vessel NFT.
Each KodaPendant NFT comes with a physical KodaPendant. It is made of 925 silver with an antique finish. Also, it features a Koda-shaped pendant with GG engraving and an interlocking G chain. Each physical KodaPendant will also have a unique edition number engraved on the back.
What is the other side?
Yuga Labs unveiled its metaverse project, Otherside, a year ago. The company issued 100,000 Otherdeeds NFTs, and the first trial run of the metaverse took place in July 2022. Then around 4,500 Otherdeed holders had the opportunity to explore Yuga Labs’ creation. A “second tour” took place on March 25, with more than 7,200 holders gathering in small groups to communicate live and participate in games for 90 minutes.
Yuga’s new project has already experienced considerable success. Otherdeed NFTs have generated 568,607 ETH in trading volume, equivalent to just over $1 billion.
Yuga has yet to announce a date for its “third tour”. However, the company has hinted at new announcements in the coming months. More advanced experiences and opportunities for token holders to enter the Otherside should become available.
The collaboration with Gucci is presented by Yuga Labs as the first chapter in a partnership that aims to blur “the boundaries between the physical and the digital”. The project’s official website explains that “Otherside Relics by Gucci represents the first chapter in a wider partnership between Yuga and Gucci, where fashion, entertainment and web3 collide, pushing the boundaries of what is possible in both digital and physical spaces.”
