Gucci customers can now pay with ApeCoin

The race to adopt crypto is taking place in almost every industry in the world. Be it cinema, restaurants, sports or the food industry, world-renowned brands and companies are adding cryptocurrencies to their portfolios. Italy’s luxury fashion brand Gucci is also making rapid strides in crypto adoption. Now the company has announced that its customers can now pay for products in ApeCoin (APE).

Gucci announced via a tweet that the brand is now accepting ApeCoin (APE) for payments and customers can pay with this cryptocurrency at Gucci stores in the US. However, the payment service will be valid only for in-store purchases. Also, this facility will be available in select US stores only. The company announced earlier in May that it would accept two more cryptocurrencies for payment.

In addition to Bitcoin and Ethereum, Gucci also accepts payments in smaller cryptocurrencies such as Dogecoin and Shiba Inu. Gucci has given the facility to the customers that they can make payment through QR code which is sent to them via email. Last month, the company invested $25,000 in the Decentralized Autonomous Organization (DAO) of the non-fungible token marketplace SuperRare.

In February, the luxury brand partnered with toy brand Superplastic to launch a series of NFTs. Apart from this, other fashion brands have also joined in, including Dolce & Gabbana, which released its NFT collection in September last year.

ApeCoin was launched in March. It is the official cryptocurrency of the Bored Ape Yacht Club NFT ecosystem. The token had made a lot of headlines at the time of launch but the same kind of growth is not visible in it. It is currently ranked 31st by market cap.

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