Gucci Now Accepts Payments in ApeCoin

Gucci Now Accepts Payments in ApeCoin

Gucci has added ApeCoin to its listing of authorized cryptocurrencies in rob out stores around the U.S.

Key Takeaways

  • Gucci now accepts ApeCoin in some stores across the US.
  • Payments will be facilitated by BitPay.
  • The guidelines comes days after one more luxury ticket, Tiffany & Co., announced it will perchance perhaps well tumble a assortment of 250 NFTs redeemable for personalized-made CryptoPunks-themed jewelry.

Gucci added ApeCoin to its listing of authorized crypto funds today, marking one more step within the posh ticket’s exploration of the crypto ecosystem. 

Yuga Labs Meets Luxury Brands

Gucci is doubling down on Web3. 

The high style ticket announced on Twitter today that it had started accepting ApeCoin funds via BitPay in rob out boutiques across the US. It comes after Gucci declared in early Might that it will perchance perhaps well authorize cryptocurrency funds in rob out stores in Unusual York, Los Angeles, Miami, Atlanta and Las Vegas; the listing of authorized coins included Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, Shiba Inu, and multiple stablecoins.

ApeCoin is the governance and utility token for ApeCoin DAO, which is tied to Yuga Labs’ Bored Ape Yacht Club-affiliated Otherside ecosystem. Bored Ape Yacht Club modified into the realm’s high NFT assortment for the length of a lisp within the promote it 2021; it has been paraded on television and social media by celebrities such as Paris Hilton, Stephen Curry, and Jimmy Fallon. The assortment’s ape-themed NFTs minted for around $200 and currently beget a floor ticket of around 84 ETH, the identical of about $135,000. Gucci called the ApeCoin addition “one more step within the Home’s exploration of Web3,” following diverse endeavors within the NFT place, including collaborations with 10KTF, SUPERPLASTIC, and SuperRare. 

The Gucci announcement follows scorching on the heels of Tiffany & Co.’s Sunday announcement that it will perchance perhaps well tumble a assortment of handcrafted pendants modeled on CryptoPunks, one more iconic NFT assortment owned by Yuga Labs. For 30 ETH (around $48,600 at today’s costs), CryptoPunk holders will offer you the selection to salvage a reproduction of their NFT fabricated from “on the least” 30 diamonds or gemstones, and the piece will hold from a gold chain with extra diamonds on the clasp. The luxury ticket’s assortment will be released in an version of 250 “NFTiffs,” NFTs redeemable for surely one of many CryptoPunk-themed pendants. It goes on sale this Friday. 

Disclosure: On the time of writing, the author of this piece owned ETH and so much of assorted cryptocurrencies.

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