Gucci, an Italian luxury clothing brand, tweeted on Thursday that it now takes ApeCoin (APE). In-store purchases will be possible with the token in a few American stores.
Gucci is a pioneer in cryptocurrencies.
Early in May, the Florence-based design behemoth began to accept cryptocurrencies in an effort to win over the most pro-crypto customers after the 2021 bullrun.
In addition to Bitcoin and Ethereum, Gucci has begun to accept payments from less well-known and established cryptocurrencies, like Dogecoin and Shiba Inu. The latter enjoy a sizable community, particularly among younger generations, which undoubtedly explains the Italian haute couture house’s decision. A QR code will be emailed to Gucci clients so they can pay.
In response, the company’s president and CEO, Marco Bizzarri, remarked
- Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. Now that we are able to integrate cryptocurrencies into our payment system, it is a natural evolution for customers who wish to have this option.
One of the biggest names in fashion also contributed $25,000 last month to the NFT SuperRare marketplace’s Decentralized Autonomous Organization (DAO). In February, the luxury brand and the toy company Superplastic collaborated to release a number of NFTs.
Other well-known figures have adopted digital fashion as well. In September of last year, Dolce & Gabbana debuted its own line of NFTs. Philipp Plein, a German fashion label renowned for its exceptionally showy attire, began accepting bitcoin payments in August. The controversial designer behind the company, Philipp Plein, claimed in April that his business will make about $16 million from crypto aficionados this year.
The Bored Ape Yacht Club ecosystem’s official cryptocurrency is ApeCoin, which debuted in March. The token gained popularity following its launch, however under less favourable market conditions it lost its momentum. By market capitalization, it is presently ranked thirty-first (behind competitors such as Bitcoin Cash and Monero). For this coin, which Yuga Labs recently introduced, and for the people who stand to gain from this information, this is still an outstanding performance.
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