Luxury clothing brand Gucci has ramped its Web3 plans as the company allows its fans to buy their products in $APE. $APE adds another currency to the list of other digital currencies the brand already accepts for payment.
As the company allows payments in ApeCoin, it is now one of the first major players in the game to accept payments in Bored Ape Yacht Club-affiliated currency.
GUCCI is an Italian luxury brand based in Florence, Italy. The brand was founded by Guccio Gucci in 1921 and is associated with a century-old history – there’s even a film for that, “House of Gucci.”
To make this possible, GUCCI has taken help from BitPay to provide them with an infrastructure that accepts payment in $APE. BitPay has also helped AMC Theaters accept payments in digital currencies.
GUCCI isn’t new to Web3 as the super-luxury brand also launched the “SUPERGUCCI” NFT collection in February. GUCCI also kicked off the Gucci Grail NFT collection in the following month. This collection was targeted toward the BAYC owners.
It was May when Gucci announced that it would accept 12 different cryptocurrencies as payment across 111 stores in North America. Including 5 USD stablecoins, the list included BTC, Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), Wrapped Bitcoin (WBTC), and Shiba Inu (SHIB).
As of now, we’ve seen a lot of BAYC owners support this move of Gucci as Twitter user NBATopShotEast has come out and claimed that he is the first-ever customer to pay in ETH for Gucci items. (location: Wooster Street, NYC, July)
As NBATopShotEast heard the news about ApeCoin and Gucci, he wishes to be the first to make the payment this time as well.
At the time of writing, $APE is priced at $6.74 after it pumped 11.4% over the past week. Over the past month, we’ve seen $APE grow to 49% of its price due to recent developments in the Otherside metaverse.
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