Gucci, Yuga Labs Team Up
Yuga Labs, the company behind Bored Ape Yacht Club NFT, and Gucci announced their collaboration on an unnamed project to kick off Metaverse Fashion Week. According to a Gucci statement, it has to do with the Otherside metaverse role-playing game.
The action is being taken as NFT brands look far and wide for new sources of income, as a protracted bear market has stifled NFT trading and an arms race among rival NFT marketplaces has reduced creator royalty payouts.
(With inputs from Shikha Singh)
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