Gucci, the iconic Italian fashion brand declared this week that it would expand its payment alternatives to include the Bored Ape Yacht Club – affiliated ApeCoin (APE) – but only via BitPay. In other words, the prominent brand will allow you to liquidate your APE for United States dollars and spend the proceeds at its stores.
Shed some more light on the adoption
Gucci officially appeared as the first major brand to accept APE payments through BitPay. The stance came months after Gucci declared that it would accept 12 cryptocurrency assets as payment across more than 100 North American stores. Owners of Ether (ETH), Bitcoin (BTC), Dogecoin (DOGE), and other cryptocurrencies are now able to transform their virtual assets into a $5,000 GUCCI tote bag.
What are GUCCI’s other crypto related activities?
Apart from cryptocurrency payments, Gucci introduced a pair of non-fungible token (NFT) collections this year, including the SUPERGUCCI NFT lineup in February.