Gucci announces that some of its retail locations in the US will be accepting ApeCoin as payment. Here’s all you need to know.
Gucci to start accepting ApeCoin payments
A famous Italian fashion label tweeted on August 2, announcing that it will be accepting ApeCoin for payments. Hence, select Gucchi boutiques will accept ApeCoin payments via BitPay. This is a new step in the fashion house’s research of Web3. Gucci is also the first retailer to accept cryptocurrency developed by the Bored Ape Yacht Club. With the move, BitPay is also increasing the supported crypto assets for payments in the US.
Through the BitPay Wallet app (EUROC), customers can buy, swap, store and spend ApeCoin (APE) and Euro coins. Apart from Gucci, other businesses using BitPay can accept payments for these coins through any cryptocurrency wallet. “Because our luxury merchant partners’ clients requested it, we introduced ApeCoin and Euro Coin. We gave them what they requested,” stated Stephen Pair. Pair is the CEO of BitPay. “Excited to announce that @Gucci will become the first big brand to allow customers to pay for items in-store using ApeCoin, via @BitPay,” tweeted the firm.
More on the new frenzy
So far, Gucci’s crypto activities are being received with great approval. Twitter user @NBATopShotEast is claiming to be the first to purchase Gucci goods using APE from the store at Wooster Station in New York City. According to the user, they were also the first to purchase with ETH. The fashion house previously entered the Web3 market by creating an NFT film for its Aria line. The clothing line was auctioned at Christie’s in 2021 for $25,000. Additionally, in Match 2022, it unveiled 10KTF: Gucci Grail Mint Pass, its line.
ApeCoin is currently trading above crucial support despite the general trend. Experts are estimating the crypto coin market will see a 50 percent rice. NFTs developed by the coin’s maker are also incorporated into the Calibre E4 design.
