Cointime

Download App
iOS & Android

Gucci and Yuga Labs Otherside-themed Fashion Collaboration

Validated Individual Expert

Recently Gucci and Yuga Labs announced their multi-year partnership to create a unique metaverse experience that blends the digital and physical worlds. And just a couple of days later the first product of their collaboration has been revealed: the KodaPendant. This limited-edition Gucci-branded pendant expands on the lore of the Otherside and Legends of the Mara. This first piece is part of the Otherside: Relics by Gucci, which will be a series of physical jewellery tied to NFTs.

The Otherside metaverse game we know little about yet centers around a mysterious species of aliens called “Koda,” and their relationship to the titular apes of the BAYC. The first “Relic” that unlocks numerous perks within the Otherside metaverse has already been sold out. It could only be bought with Apecoin, and each cost 450 APE, or $1,883 at the time of writing. The total amount of KodaPendants released was 3,333.

The tricky part was that KodaPendants were 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 was revealed last week. It basically means that KodaPendants were available for purchase for Otherdeed holders.

Holders of KodaPendants will be able to claim a physical piece of jewelry from Gucci later this year. It will look like 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.

The accessories will be only available to citizens of select countries, such as the United States, Canada, Saudi Arabia, the UAE, Kuwait, Qatar, and most of Europe. Notably, citizens from African, Central American, and Asian countries, with the single exception of Japan, are ineligible to receive a pendant.

Last year, CryptoPunks collaborated with Tiffany’s to create a limited edition NFT-backed series of 250 gold, ruby, and diamond necklaces, each modelled in the likeness of purchasers’ unique CryptoPunk NFT avatars. Those necklaces, which each cost $51,000, sold out instantly, helped raise Cryptopunk trading volume.

Gucci is one of the most widely known luxury brands. Conversely, Otherside is one of the most highly anticipated metaverses. The two companies joining forces to collaborate on both digital and virtual fronts can significantly propel Web3 adoption. We continue to observe.

Comments

All Comments

Recommended for you

  • SEC and CFTC Update Crypto FAQs: Token Buybacks and Network Upgrades Not Necessarily Securities, CFTC Allows On-Chain Record Keeping

    On September 26, the U.S. Securities and Exchange Commission's Division of Corporation Finance released an updated FAQ on September 25, clarifying that token buybacks, network upgrades, and marketing statements do not automatically make crypto assets securities. SEC staff noted that announcing a buyback plan for an operational crypto network does not, by itself, make the associated tokens investment contracts; however, if the network is not operational and the issuer promotes the buyback as a source of returns for holders, it may be a different case. The FAQ also clarified that services provided once a crypto system is operational, aimed at securing, maintaining, improving, or enhancing the system or its functions, or promoting network effects, do not constitute managerial efforts under the Howey test. Marketing existing uses of the network typically does not create profit expectations, and statements about future functionalities do not either, provided there is no promotion of profit potential. This update reiterates that conclusions will still heavily depend on specific cases and are based on the SEC's interpretative release regarding the applicability of securities laws to crypto assets issued in March this year. On the same day, the Commodity Futures Trading Commission updated its crypto FAQ, allowing futures firms and clearinghouses to invest customer funds in tokenized versions of previously permitted assets, provided they meet investment and custody requirements. CFTC staff also indicated that regulated companies may use blockchain for record keeping but must still be able to provide records if the blockchain or its block explorer is non-operational. These updates come as the CLARITY Act failed to advance in the Senate, with regulators continuing to push forward with the crypto regulatory framework based on existing laws.

  • BTC Surpasses $84,000

    Market data shows that BTC has surpassed $84,000, currently priced at $84,004, with a 24-hour decline of 0.25%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Falls Below $84,000

    Market data shows that BTC has fallen below $84,000, currently priced at $83,988.06, with a 24-hour increase of 0.52%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Falls Below $2700

    Market data shows that ETH has fallen below $2700, currently priced at $2699.7, with a 24-hour increase of 1.95%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $85,000

    Market data shows that BTC has surpassed $85,000, currently priced at $85,000.02, with a 24-hour increase of 1.72%. The market is highly volatile, so please ensure proper risk management.

  • ETH Surpasses $2700

    Market data shows that ETH has surpassed $2700, currently priced at $2700.14, with a 24-hour increase of 1.23%. The market is experiencing significant fluctuations, so please ensure proper risk management.

  • Yushu Technology's Wang Xingxing: Key to Breakthrough in Embodied Intelligence Lies in Solving Millimeter-Level Error Issues

    On September 25, the 5th Global Digital Trade Expo was held in Hangzhou, where Wang Xingxing, founder of Yushu Technology, delivered a keynote speech titled "From Machinery to Intelligence - The Evolutionary Theory of Embodied Future." Wang stated that the embodied intelligence industry may soon experience a critical breakthrough similar to that of ChatGPT. He believes that when robots can complete approximately 80% of tasks through voice interaction and embodied intelligence capabilities in about 80% of unfamiliar environments, the industry will enter a critical phase of large-scale application. He pointed out that the ability for robots to understand and execute specific tasks based on voice commands has already made breakthroughs last year, but the industry still faces a core technological bottleneck, namely the precise matching issue between artificial intelligence models and the real physical world. Wang noted that currently, robots still have a few millimeters of error during actual operations, which limits their stability and reliability in complex environments. "In the future, whoever can solve this problem will fundamentally resolve the issues with robots."

  • Swissquote Analyst Warns AI Narrative is a Core Pillar of US Stocks, Potential Break Could Trigger Significant Correction

    On September 25, Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that broad market indices and retirement funds are now deeply tied to the AI wave, with technology stocks accounting for about 40% of the S&P 500 index. She pointed out that the market capitalization weight of just three chip manufacturers makes up over 25% of the MSCI Emerging Markets Index. Ozkardeskaya indicated that AI has become the 'core pillar' of the market, and this pillar 'must not show any cracks.' She believes that, in the short term, the US stock market will continue to be supported by seasonal factors, and the current market uptrend may extend until the end of the year. However, she also warned that the worst-case scenario would be a shake in the investment logic surrounding AI, which could undermine market confidence in the AI narrative, potentially triggering a significant market correction.

  • U.S. Stock Index Futures Turn Positive; Chip Stocks Rally in After-Hours Trading

    On September 25, U.S. stock index futures rose into positive territory, with Nasdaq futures up 0.36%. In after-hours trading, storage and semiconductor stocks saw widespread gains, with AMD, Intel, and SanDisk all rising by 2%.

  • Web3 data and AI company Validation Cloud completes $10 million in new round of financing

     Web3 data and AI company Validation Cloud announced a $10 million financing round from True Global Ventures. The company plans to use the funds to expand its AI products and achieve seamless access to Web3 data.