Italian fashion giant Gucci has extended its Web3 initiatives by allowing crypto users to purchase products with ApeCoin and become the first brand to accept ApeCoin payments.
This move was announced on Monday and Bored Ape Yacht Club (BAYC) collectors have shown strong support for this crypto initiative. Customers in the United State are able to purchase items with APE, while Bitpay, which has previously helped AMC Theaters accept crypto payments, will provide payment infrastructure.
Excited to announce that @Gucci will become the first major brand to allow customers to pay for purchases in-store with ApeCoin, via @BitPay. 🎉🎉🎉 https://t.co/ipoeW6lXLl
— ApeCoin (@apecoin) August 2, 2022
In May, Gucci announced plans to accept 12 crypto assets including Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and five U.S dollar stablecoins.
Fashion brands, such as Tiffany or Balenciaga, have ventured deep into the crypto space this year. Gucci has also collaborated with vinyl toy brand Superplastic and released the “Supergucci” NFT collection.