Hey, it’s Marc. I write about Bitcoin, Web3, and technology. ✌️

Gucci is strengthening its ties to Web3.

On Monday, Gucci announced a multi-year partnership with Yuga Labs to explore “the intersection between fashion and entertainment in the Metaverse.”

A digital ape hand holds a small bottle bearing the Gucci logo.

Yuga Labs is one of the biggest IP holders in the NFT space. As funding and royalty fees decrease (cf. royalty fee wars between NFT exchanges), IP owners & NFT communities are looking for new revenue streams by growing beyond their Web3 communities into mass media brands.

  • Merging digital and physical with IRL community experiences and products

  • Partnering with existing mass market brands to create co-branded physical & digital experiences and products.

Let’s look at some examples:

  • In January, Doodles launched “Doodles V2” on the Flow blockchain and to expand its franchise into music, animation, consumer products, live events and more. We want to “connect digital identity with animation and storytelling”, said Doodle CEO Julian Holguin.

  • Last month, Pudgy Penguins announced its partnership with Retail Monster to launch its Pudgy Toyline on retail shelves globally. Retail Monster is a renowned name in the industry, with its network spanning several major retailers worldwide, representing giant brands, such as Dreamworks, Hasbro, and Disney.