Gucci Now Accepts Payments in ApeCoin

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Key Takeaways

  • Gucci now accepts ApeCoin in some shops throughout the USA.
  • Funds can be facilitated by BitPay.
  • The information comes days after one other luxurious model, Tiffany & Co., introduced it might drop a set of 250 NFTs redeemable for custom-made CryptoPunks-themed jewellery.

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Gucci added ApeCoin to its record of accepted crypto funds right now, marking one other step within the luxurious model’s exploration of the crypto ecosystem. 

Yuga Labs Meets Luxurious Manufacturers

Gucci is doubling down on Web3. 

The excessive trend model announced on Twitter right now that it had began accepting ApeCoin funds by way of BitPay in choose boutiques throughout the USA. It comes after Gucci declared in early Might that it might authorize cryptocurrency funds in choose shops in New York, Los Angeles, Miami, Atlanta and Las Vegas; the record of accepted cash included Bitcoin, Ethereum, Bitcoin Money, Litecoin, Dogecoin, Shiba Inu, and a number of stablecoins.

ApeCoin is the governance and utility token for ApeCoin DAO, which is tied to Yuga Labs’ Bored Ape Yacht Membership-affiliated Otherside ecosystem. Bored Ape Yacht Membership grew to become the world’s high NFT assortment throughout a increase out there it 2021; it has been paraded on tv and social media by celebrities equivalent to Paris Hilton, Stephen Curry, and Jimmy Fallon. The gathering’s ape-themed NFTs minted for round $200 and presently have a floor price of round 84 ETH, the equal of about $135,000. Gucci referred to as the ApeCoin addition “one other step within the Home’s exploration of Web3,” following varied endeavors within the NFT area, together with collaborations with 10KTF, SUPERPLASTIC, and SuperRare. 

The Gucci announcement follows scorching on the heels of Tiffany & Co.’s Sunday announcement that it might drop a set of handcrafted pendants modeled on CryptoPunks, one other iconic NFT assortment owned by Yuga Labs. For 30 ETH (round $48,600 at right now’s costs), CryptoPunk holders will be capable of get a reproduction of their NFT product of “not less than” 30 diamonds or gem stones, and the piece will hold from a gold chain with extra diamonds on the clasp. The luxurious model’s assortment can be launched in an version of 250 “NFTiffs,” NFTs redeemable for one of many CryptoPunk-themed pendants. It goes on sale this Friday. 

Disclosure: On the time of writing, the writer of this piece owned ETH and several other different cryptocurrencies.

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