Last Updated on April 4, 2023 by Bitfinsider
The $4 billion Yuga Labs, maker of the popular NFT line Bored Ape Yacht Club, and luxury fashion house Gucci collaboration has recently been teased as blurring “the boundaries between the physical and digital.” Now, this collaboration is currently taking shape.
Otherside: Relics by Gucci, a limited-edition line of physical Gucci goods and related NFTs, was unveiled by Yuga on Monday. Otherside is a long-awaited metaverse game with an ape motif.
The plot of the largely unknown Otherside revolves around a mysterious alien race known as “Koda,” and their as-of-yet unclear connection to the titular apes of the BAYC. Owners of Otherdeeds, NFTs that grant rights to virtual land plots within the game’s virtual landscape, have had a preview of the game, but it has not yet been completely released.
The KodaPendant, an NFT that simultaneously represents a physical item of jewelry and a nonfungible token that will activate a number of benefits within the Otherside metaverse, will be the first “Relic” to be made available through Yuga’s partnership with Gucci. The auction of the exact 3,333 KodaPendants will start on Thursday, April 6, at 6:00 p.m. EST.
Each of them will cost 450 APE, or $1,917 as of this writing, and can only be purchased with Apecoin, Yuga’s local cryptocurrency.
Only present Koda or Vessel NFT members will have access to KodaPendants. Every Otherdeed holder is eligible to claim a Vessel NFT, which was disclosed by Yuga during its reveal last week of Legends of the Mara, an upcoming 2D standalone gaming experience that deepens the mythology of the Otherside universe. 10,000 Koda NFTs were covertly incorporated among the 100,000 Otherdeeds released last year.
The regulation effectively states that KodaPendants will be offered for sale to any Otherdeed holder.
The aesthetic updates to the Koda and Vessel NFTs connected to KodaPendants will each feature a digital representation of the jewelry. According to Yuga, the KodaPendant will also enable special cosmetic choices for Otherside avatars when they go on sale this summer.
Later this year, owners of KodaPendants will also be able to get a genuine, physical item of jewelry from Gucci for no extra charge. Each KodaPendant NFT will include a physical KodaPendant, which is a silver chain with a silver pendant in the form of a Koda alien that is inscribed with the acronym “GG,” which stands for “good game,” among gamers. Each physical KodaPendant will also have a special edition number inscribed on the reverse.
The actual pendants will only be mailed to citizens of a small number of countries, including the US, Canada, most of Europe, and a few Gulf states, including Kuwait, Qatar, Saudi Arabia, and the UAE. Notably, no citizens of any African, Central American, or South American country, nor citizens of any Asian country, with the sole exception of Japan, are qualified to obtain a pendant.
The announcement made on Monday is not the first time a prominent NFT business has partnered with a major name in high fashion to produce exclusive physical goods linked to digital ownership.
Last year, Yuga-owned CryptoPunks and upscale jeweler Tiffany’s partnered to produce a limited edition NFT-backed series of 250 gold, ruby, and diamond necklaces, each of which was fashioned in the image of the buyer’s particular CryptoPunk NFT avatar. These $51,000 necklaces went straight out of stock, causing the amount of Cryptopunk trading to soar.
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