Fashion brand Gucci has announced that it is adding ApeCoin to its list of accepted cryptocurrencies.
Gucci Customers Can Pay With APE
Gucci will now be accepting APE payments. The luxury fashion house announced the news via its Twitter handle on Tuesday, revealing that the fashion house has started accepting ApeCoin payments as ‘yet another step in the House’s exploration of Web3.’ The announcement revealed that customers could pay in ApeCoin via the BitPay app for in-store purchases at certain Gucci boutiques and retail outlets across the United States. This means that APE will join a series of other leading cryptocurrencies that are already accepted as payments at Gucci stores. The ApeCoin crypto was launched in March 2022 by Yuga Labs, which is the entity behind the wildly popular Bored Ape Yacht Club NFTs. Since then, it has seen a rapid rise in popularity, owed partly to its connection with the sought-after NFT collection.
Gucci’s Crypto Advances
The House of Gucci has been making decisive steps of advancements into the Web3 space. The fashion giant has been dipping its toes in the NFT waters and has also entered several Web3 deals with companies like 10KTF, SUPERPLASTIC, and SuperRare. In May 2022, the brand started accepting cryptocurrencies as payment for in-store purchases at specific outlets in the US. Some of these accepted cryptocurrencies include the popular Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, Shiba Inu, and several stablecoins.
The brand has also entered the metaverse with the virtual Gucci Garden that was launched on Roblox in 2021 and has since attracted millions of visitors. It even successfully sold a virtual designer purse on the platform at a rate higher than the actual price of the original purse. Other metaverse conquests for Gucci include designing ‘skins’ for the digital avatars on Pokemon Go and Animal Crossing and purchasing virtual land in The Sandbox.
Web3 Attracts Luxury Brands
Besides Gucci, other fashion brands are also embracing crypto and Web3. Most recently, luxury fashion retailer Philipp Plein announced crypto payment options for his upcoming store in London’s Mayfair. Other luxury brands are also adapting themselves to leverage web3 for enhanced customer experiences. For example, to mark the occasion of its 22nd anniversary, luxury brand VERTU Paris partnered with Binance to launch the new VERTU Constellation X Ulm smartphone through an exclusive sales process.
Swiss watchmaker TAG Heuer has also launched a smartwatch feature that will allow owners to display their NFT collections.
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