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Gucci Now Accepts payments in Apecoin

1 min read
Gucci Now Accepts payments in Apecoin

The luxury brand announced the addition of ApeCoin to its list of accepted cryptocurrency payments on Monday, taking another step in the company’s engagement in the crypto space.

Yuga Labs Collaborates with Luxury Brands

It is clear that Gucci is going aggressive on the Web 3.

On Twitter, the high-end luxury brand announced that it had begun accepting BitPay payments in select shops across the United States.

Gucci’s decision to allow bitcoin payments in select locations around the world comes after it announced in early May that it would enable cryptocurrency payments at certain shops in New York, Los Angeles, Miami, Atlanta, and Las Vegas.

The list of accepted coins includes Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, Shiba Inu Markham and other stablecoins.

ApeCoin is the governance and utility token for ApeCoin DAO, which is linked to the Otherside ecosystem at Yuga Labs.

During a surge in the market, Bored Ape Yacht Club became the world’s finest NFT collection in 2021; it has been featured on television and social media by famous people such as Paris Hilton, Stephen Curry, and Jimmy Fallon.

The collection’s NFTs that were inspired by monkeys may be a testament to how valuable these blockchain collectibles may be, with their value estimated at $135,000 or 84 ETH.

The addition of ApeCoin to the fold was described by Gucci as “another step in the House’s study of Web3,” following other NFT efforts such as 10KTF, SUPERPLASTIC, and SuperRare.

Following hot on the heels of Tiffany & Co.’s Sunday revelation that it would cease producing handcrafted pendants based on CryptoPunks, another prominent NFT collection owned by Yuga Labs, Gucci made a similar announcement.

For 30 ETH (about $48,600 today), CryptoPunk owners will be able to choose from a replica made of “at least” 30 diamonds or gemstones and dangle from a gold chain with more diamonds on the clasp.

The line will be available in an edition of 250 “NFTiffs,” which are NFTs that may be redeemed for one of the CryptoPunk-themed pendants. This Friday, it goes on sale.

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