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Friday, October 7, 2022

Gucci Has Started Accepting ApeCoin Payments

Gucci, the high-end Italian fashion giant, has turned out to be the first major brand that will be accepting payment in the form of an ApeCoin- a cryptocurrency affiliated to the Bored Ape Yacht Club NFT. This move was previously announced on Monday and could definitely provide the project of ApeCoin with significant exposure along with bringing further utility to the entire cryptocurrency.

The customers of the brand in the United States stated that they would now be able to purchase the items in-store with APE, while the payment infrastructure will find itself being provided with BitPay- which was a firm that has already helped a couple of big firms such as AMC Theatre. 

Gucci Has Taken A Leap Towards The Crypto Sector

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Despite the bear market currently being enforced in the crypto sector, it is quite surprising to see Gucci make such a serious plunge in the sector. Back in February, the company kicked things off with the SUPERGUCCI NFT collection which was made in collaboration with SUPERPLASTIC- a vinyl toy brand. In March, the company then went on to roll out the Gucci Grail NFT collection that was targeted toward owners of the top NFT projects such as the BAYC. In May, the firm then announced its plans of accepting 12 crypto assets as methods of payment across the 111 stores in North America. 

The collectors of BAYC seem to have shown support for the crypto moves of Gucci so far, with NBATopShotEast, a pseudonymous Twitter personality, stating that they were the first person to pay for the items of the brand in ETH at the Wooster Street location in New York City back in July. Another couple of BAYC members also claimed to be the second as well as the third person to pay through cryptocurrency.

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