The move represents an extension of the fashion label’s presence on the web3.
Gucci will be the first brand to accept ApeCoin.
At select Gucci locations in the United States, customers may now purchase with ApeCoin via Bitpay. In one of its latest tweets, Gucci announced the news. In a sense, the move represents an extension of the fashion label’s presence on the web3.
Despite the fact that cryptocurrencies aren’t performing at their peak right now, interest in them continues to grow. Companies and industry leaders all around the world are grabbing hold of crypto and jumping on the bandwagon despite the changes and volatility.
Global Crypto Adoption on the Rise
As part of an experiment to see how things work, Gucci announced in May that it will take cryptocurrencies. Almost three months after the announcement, ApeCoin has been accepted through BitPay by the fashion business.
Using BitPay, a payment channel that has been around since 2011, Gucci will be the first brand to accept ApeCoin. Gucci has a history of crypto efforts, and this is just the latest. The brand has a team dedicated to web3 projects and gaming.
Previously, a separate mechanism of acceptance for cryptocurrencies was used. To make in-store cryptocurrency payments, customers will get an email with a link. A QR code will be included in the URL so that customers may pay with their own cryptocurrency wallets. More and more companies looking to join the cryptocurrency sector are turning to the BitPay gateway for support. Those who own ApeCoin may use it to pay for their Gucci goods at certain Gucci outlets.
According to CMC, the ApeCoin price today is $6.86 USD with a 24-hour trading volume of $581,851,987 USD. ApeCoin is up 4.25% in the last 24 hours.