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Gucci Launches New In-Store Payment Method Accepting ApeCoin

Gucci Launches New In-Store Payment Method Accepting ApeCoin

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Gucci is another luxury brand that combines Web3 and crypto in its development.

Italian high-end luxury fashion brand Gucci announced Incorporating ApeCoin (APE) as a payment method in its stores across the US. ApeCoin is the native cryptocurrency of Bored Ape Yacht Club’s (BAYC) NFT collection.

On August 2, Gucci took to Twitter to announce this new feature. There will be payments available through BitPaycryptocurrency payment service provider.

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On the same day, BitPay shared a Press release announced the integration of ApeCoin and Euro Coin (EUROC) into their services.

Commenting on this integration, BitPay CEO Stephen Pair said:

We added ApeCoin and Euro Coin because customers of our luxury merchant partners requested them. They asked and we delivered.

Gucci started integrating cryptocurrencies as early as May 2022. Then the company announced its plans Accept 11 cryptocurrencies at 111 stores across the US.

The luxury brand is currently accepting Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH)Wrapped Bitcoin (WBTC), Shiba Inu (SHIB), Litecoin (LTC), Dogecoin (DOGE)and five US dollar stable coins.

Customers can pay with cryptocurrencies e.g scan the QR code in their BitPay crypto wallet.

Gucci has also made its way to Web3. In February 2022, Gucci announced its collaboration with vinyl toy brand SUPERPLASTIC to launch the “SUPERGUCCI” NFT collection.

Later in March, the brand launched another NFT collection called ‘Gucci Grail’.

The Bored Ape Yacht Club community has been supports this integration. Underneath the official announcement tweet, many community members responded by using fire emoticons, writing “dope,” “boss moves” and “HUGE” to show their excitement.

The news comes just days after Tiffany & Co exempt their first collection of NFTs exclusively for CryptoPunks holders called NFTiff.

Gile K. - cryptanalyst

by Gile K. – Crypto Analyst, BitDegree


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