April 10, 2023
By Sharan Kaur Phillora
Luxury fashion house Gucci recently teased a metaverse-oriented partnership with Yuga Labs, the $4 billion company behind the dominant NFT collection Bored Ape Yacht Club, that would blur “the boundaries between the physical and digital.”
Here’s what we know:
Last week, Yuga announced Otherside: Relics by Gucci, a limited-edition series of physical Gucci products and associated NFTs tied into the lore of Otherside, Yuga’s long-awaited ape-themed metaverse game.
The first “Relic” to be released via Yuga’s collaboration with Gucci will be the KodaPendant, an NFT representing both a physical piece of jewelry and a nonfungible token that will unlock numerous perks within the Otherside metaverse. Exactly 3,333 KodaPendants will be made available for sale beginning on Thursday, April 6, at 6:00 pm EST.
They can only be bought with Apecoin, Yuga’s native cryptocurrency, and will each cost 450 APE, or $1,917 at writing.
KodaPendants will only be available to current holders of Koda or Vessel NFTs. 10,000 Koda NFTs were quietly embedded among the 100,000 Otherdeeds released last year, and every Otherdeed holder is entitled to claim a Vessel NFT, which Yuga revealed during its reveal last week of Legends of the Mara, an upcoming 2D standalone gaming experience that expands the mythology of the Otherside universe.
For no additional cost, holders of KodaPendants will also be able to claim a real, physical piece of jewelry from Gucci later this year. Each KodaPendant NFT will come with one physical KodaPendant, a silver chain adorned with a silver pendant in the shape of a Koda alien, inscribed with “GG,” a shorthand among gamers for “good game.” Each physical KodaPendant will be also inscribed with a unique edition number on the back.
This isn’t Gucci’s first collaboration on NFTs or metaverse-related activities. In February, the fashion house began releasing a series of NFTs in collaboration with SUPERPLASTIC, a company which creates digital and physical collectibles. Gucci reportedly made $11.6 million off NFT sales as of August 2022
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.