Gucci becomes the first major brand to allow in-store purchases with ApeCoin

Ape joins Gucci gang!

Gucci is an Italian high-end luxury fashion brand headquartered in Florence, Italy. Gucci tweeted earlier today, announcing that it has teamed up with BitPay to accept ApeCoin payments. ApeCoin is the native currency of the popular Bored Ape Yacht Club. This is presently only available at selected Gucci stores. Gucci now accepts ten different cryptocurrency payments, including Bitcoin and Ethereum.

The tweet said that Gucci is now accepting ApeCoin payments via BitPay at select Gucci boutiques in the United States of America. With this move, they are expanding the range of cryptocurrencies that are available for in-store purchases. This is yet another step in the fashion house’s exploration of Web3.

Gucci is attempting to embrace the Web3 environment in a variety of ways, including establishing a presence in the metaverse and selling its NFT in collaboration with SuperRare. If other brands do not want to fall behind when all of this takes off, we believe it is critical that they jump on board.

What is ApeCoin

Image via ApeCoin

ApeCoin is an ERC-20 governance and utility token that is utilized within the APE Ecosystem to empower and incentivize a decentralized community at the forefront of web3. ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club. ApeCoin was launched in 2022, this year.

ApeCoin’s popularity has skyrocketed in such a short period of time as a result of its affiliation with the Bored Ape Yacht Club and the exclusive rights to purchase the songs by rappers Snoop Dogg and Wiz Khalifa. ApeCoin is available on majority of Crypto exchanges and can be used to buy NFTs like CryptoPunk, BAYC and many more.

What are your thoughts on Gucci’s latest move? Should other other┬ábrands follow in Gucci’s footsteps? Please leave your thoughts in the comments section below.

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