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ApeCoin Now Accepted by Fashion Giant Gucci

u.today 02 August 2022 14:25, UTC
Reading time: ~2 m

Italian high-end luxury fashion house Gucci announced that it now accepts ApeCoin (APE) in a Thursday tweet.      

The coin will be available for in-store purchases in select boutiques in the U.S.  

The Florence-based fashion giant initially started accepting cryptocurrencies in early May in an attempt to woo more crypto-friendly customers following the 2021 bull market. Apart from Bitcoin and Ethereum, Gucci also started taking payments in smaller cryptocurrencies, including Dogecoin and Shiba Inu.

Gucci customers are able to pay with the help of a QR code that gets 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 non-fungible token marketplace SuperRare.

In February, the luxury house brand released a series of NFTs in partnership with toy brand Superplastic.

Other major names have also embraced digital fashion. Dolce & Gabbana unveiled its own NFT collection last September.

German fashion house Philipp Plein, which is known for its particularly garish outfits, started accepting cryptocurrency payments last August. In April, Philipp Plein, the controversial designer behind the brand, predicted that his company would earn roughly $16 million from crypto enthusiasts this year.

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