A consecration for ApeCoin (APE)? The Bored Ape Yacht Club (BAYC) cryptocurrency can now be used to purchase Gucci branded products at select shops
ApeCoin (APE) to buy Gucci
The news was announced by the luxury brand yesterday. ApeCoin payments will initially only be available for a few Gucci shops located in the US. However, this is a significant step forward, which the brand describes as “exploring the Web3”.
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
This is not the first time Gucci has done this. Since last May, some shops in the United States had started accepting cryptocurrencies, about ten of them in total. Gucci’s addition of ApeCoin is a continuation – the brand wants to eventually offer this type of payment in all its stores.
Gucci and the Bored Ape Yacht Club: a golden marriage
The association of this great luxury brand with one of the most famous Web3 projects seems quite natural. Like Gucci, BAYC plays on exclusivity and image, with non-fungible tokens (NFTs) that still sell for several hundred thousand dollars.
The news seems to have benefited the Apecoin price, which has seen a small pump since the announcement:
Apecoin price benefits from the news
This could be a sign of a trend in the ecosystem, with luxury brands partnering with projects like this. Gucci is not the only one interested in Web3: last May, we learned that Balenciaga had also decided to open up to crypto-currencies.
