Gucci has announced that it is expanding support for crypto payments by accepting ApeCoin (APE) as a payment method. An Ethereum-based token belonging to the Bored Apes Yacht Club (BAYC) NFT ecosystem, created by Yuga Labs. The Italian high-end luxury fashion brand has become the first in the tournament to include ApeCoin as a payment option for its products. The brand has partnered with BitPay to support ApeCoin payments. While not all Gucci stores in the US accept ApeCoins, the service will be rolled out in select stores.
Established in 1921, Gucci entering its 101st year of operations in 2022. The company, which has since garnered a massive fan following from celebrities and lavish fashion enthusiasts, posted an official announcement about the announcement. Twitter.
– gucci (@gucci) August 2, 2022
Back in May, Gucci started accept cryptocurrency payments at stores in the United States.
In January, the fashion brand also teamed up with vinyl toy maker Superplastic to launch a collaborative product. NFT.
The brand also collaborates with art platform NFT SuperRare on digital exhibitions.
For ApeCoinit launched in March of this year to power metaverse applications around the BAYC NFT ecosystem.
Owner of NFT Ape Ape Depressed and Mutant Ape received tens of thousands of dollars worth of free ApeCoin allocations at launch.
The token quickly appeared on exchanges like Coinbase and Binance.
Follow CoinMarketCapeach APE token is currently priced at $7.33 (approximately Rs. 580) with a direct market cap of $2,234,823,542 (approximately Rs. 17,673 crore).
Meanwhile, other high-end brands like Balenciaga and high-end Swiss watch manufacturer Tag Heuer has begun testing crypto payments with Nike, Hipster’s Paradise, Aeropostale, H&M, Calvin Klein, American Eagle, Philipp Plein, and Etsy.