Gucci starts accepting ApeCoin as payment

Italian fashion house Gucci has added support for ApeCoin.

The new option is being rolled out in some stores in the United States through a partnership with the processing service BitPay. According to Gucci representatives, this is another step in exploring Web3.

ApeCoin cryptocurrency is tied to the Bored Ape Yacht Club NFT project from Yuga Labs.

Gucci became the first merchant to support APE via BitPay’s processing. BitPay has been active in the market since 2011.

In April, reports emerged that Gucci and other fashion brands are planning to release their own NFTs.

In May, the Italian fashion house announced a pilot project to accept digital-asset payments in five U.S. stores.

In June, the company joined a decentralized autonomous organization through a partnership with the NFT marketplace SuperRare and acquired 150,000 RARE tokens.

Earlier Gucci acquired a virtual plot of land in the metaverse of The Sandbox.

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