Gucci becomes the first major brand to accept cryptocurrency as payment

Italian couture giant Gucci became the first major brand to start accepting payments in the form of ApeCoin under the Bored Ape Yacht Club (APE).
The move was announced last week and could give the ApeCoin project significant mainstream exposure, in addition to bringing further much-needed utility to the only 5-month-old cryptocurrency.
Gucci’s move towards crypto comes despite the ongoing crypto bear market in which all major cryptocurrencies like bitcoin, Ethereum, dogecoin, etc. have been heavily red.
But this is not Gucci’s first step in the field of crypto and NFT market. In February 2022, Gucci kicks things off with “SuperGucci“NFT collection in partnership with vinyl toy brand Super flexible. Next month, Gucci released “Gucci Grail“NFT Collection is targeted to owners of top NFT projects like BAYC.
For now, Gucci will accept ApeCoin in stores in the United States and plans to expand that reach across the rest of its North American presence. The price of Apecoin skyrocketed from nearly $6 on August 2 to $7.4 on August 9.

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