In a tweet on Thursday, Italian high-end luxury fashion house Gucci announced that it is now accepting ApeCoin (APE). ApeCoin will be available for in-store purchases at
select US boutiques.
Now accepting @ApeCoin payments via @BitPay, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House’s exploration of Web3.
— gucci (@gucci) August 2, 2022
The Florence-based fashion giant initially started accepting. Cryptocurrencies will attract more crypto-friendly customers in early May following the 2021 bull market. Apart from Bitcoin and Ethereum, Gucci has also started receiving payments in smaller cryptocurrencies, including Dogecoin and Shiba.Inu.
Gucci customers can pay with the help of a QR code sent to them via email. Last month, one of the biggest names in the fashion world also invested $25,000 in the decentralized autonomous organization (DAO) of the non-tradable token (NFT) marketplace SuperRare.
It released a series of NFTs in partnership with Superplastic in February. Other important names have also embraced digital fashion. Dolce & Gabbana introduced their NFT collection last September.
German fashion house Philipp Plein, especially known for its flashy outfits, started accepting crypto payments last August. In April, the controversial designer behind the brand, Phillip Plein, predicted that his company would make around $16 million from crypto enthusiasts this year.
Launched in March, ApeCoin is the official cryptocurrency of the BoredApe Yacht Club NFT ecosystem. Despite making waves after its launch, the token failed to gain sustained momentum. It currently ranks 31st by market cap, behind Bitcoin Cash and Monero.
