Gucci Fires Up ApeCoin as a Payment Method

Gucci Fires Up ApeCoin as a Payment Method

Gucci is another luxury brand incorporating Web3 and crypto into its development.

Gucci, an Italian high-end luxury fashion brand, announced the incorporation of ApeCoin (APE) as a payment method in their stores across the United States. ApeCoin is a native Bored Ape Yacht Club (BAYC) NFT collection cryptocurrency. 

On August 2nd, Gucci took to Twitter to announce this new feature. The payments will be available through BitPay, a cryptocurrency payment service provider. 

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

BitPay CEO, Stephen Pair commented on this integration saying:

We added ApeCoin and Euro Coin because customers of our luxury merchant partners asked for it. They asked, and we delivered.

Gucci started its cryptocurrency incorporation back in May 2022. The company then announced plans to accept 11 cryptocurrencies as a payment method in 111 stores across the United States

The luxury brand currently accepts Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Shiba Inu (SHIB), Litecoin (LTC), Dogecoin (DOGE), and five U.S. dollar stablecoins. 

The customers can pay with cryptocurrencies by scanning QR code in their BitPay crypto wallet

Gucci has been paving its way into Web3, as well. In February 2022, Gucci announced its collaboration with vinyl toy brand SUPERPLASTIC to launch the “SUPERGUCCI” NFT collection. 

Afterward in March, the brand launched another NFT collection called “Gucci Grail”. 

The Bored Ape Yacht Club community has been supportive of this integration. Under the official announcement tweet, many community members replied using fire emojis, writing “dope”, “boss moves”, and “HUGE” to show their excitement. 

The news comes only a few days after Tiffany & Co released their first NFT collection exclusively to CryptoPunks holders called NFTiff. 

Aaron S. - Expert Reviewer

by Aaron S. - Expert Reviewer, BitDegree