Fashion house Gucci is expanding its reach in the Web3 space. The company allowed customers to purchase products using ApeCoin, adding 12 other digital assets to its list.
This made Gucci the first fashion house to accept ApeCoin. This move could provide more support for the token and bring additional utility to ApeCoin.
This service is currently available to US residents. The payment infrastructure will be provided by BitPay, which has helped theater chain AMC Theaters accept cryptocurrency as payment for tickets in the past.
Gucci kicked off its Web3 journey with the SUPER GUCCI collection in February. The following month, Gucci released the “Gucci Grail” NFT collection, aimed at owners of leading NFT projects such as BAYC.
In May, the fashion house allowed customers in 111 U.S. Gucci stores to pay for their purchases using 12 digital assets. The list includes Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and five dollar-pegged stablecoins.
Since then, Twitter users and cryptocurrency advocates have shared their experiences on their blogs about paying for goods with digital assets. They plan to use ApeCoin the next time they go to a Gucci store.
The price of APE has risen by 11.4% over the past seven days and is $6.74 at the time of writing. APE has been showing growth lately, thanks partly to various positive developments surrounding the Otherside metaverse.
