“Now accepting @ApeCoin payments via @BitPay, several Gucci stores in the US expand the range of cryptocurrencies available for in-store purchases, another step in House’s Web3 discovery, ‘ Gucci said in the tweet.
Italian fashion house Gucci announced on Twitter that it will now accept ApeCoin – the proprietary cryptocurrency of the Bored Ape Yacht Club – for purchases at select stores in the US. The luxury brand also tweeted that the move would be another step forward for Gucci in the Web3 world. Gucci has partnered with BitPay to process ApeCoin payments.
Gucci has partnered with bitcoin payment service provider BitPay to process ApeCoin payments. ApeCoin is a limited, claimable cryptocurrency initially available to Bored Ape and Mutant Ape holders. However, this is not the first time Gucci has entered the world of Web3. The fashion house converted its Aria fashion collection into an NFT video, which sells for $25,000 during the Christie’s Proof of Sovereignty sale in 2021.
At the end of January 2022, Gucci and many other fashion giants launched a collection of 10,000 programmable NFTs. Then in March, Gucci introduced its very own 10KTF: Gucci Grail Mint Pass collection, allowing owners to create custom NFT profile pictures or PFP outfits featuring sections focused on 11 NFT projects most popular at the time.
Other luxury brands that have joined the crypto payments group include Balenciaga, Tag Heuer, Nike, Hipster’s Paradise, Aeropostale, H&M, Calvin Klein, American Eagle, Philipp Plein, and Etsy.
Fiber2 fashion news desk (NB)