Gucci has further embraced cryptocurrencies, announcing in a tweet on Tuesday that it is accepting in-store purchases with ApeCoin through payment service provider BitPay.
See related article: How high fashion is waking up to blockchain’s possibilities
Fast facts
- ApeCoin is a cryptocurrency tied to Bored Ape Yacht Club (BAYC), a non-fungible token (NFT) project created by Yuga Labs.
- ApeCoin is not the first crypto that Gucci accepts. In May, some Gucci stores in the U.S. started taking cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, as well as five dollar-pegged stablecoins.
- Last summer, a Gucci virtual purse was sold on Roblox for over $4,000, more than the price of a physical one.
- In addition to Gucci, luxury brands such as Balenciaga, Off-White, Phillip Plelin, and luxury retailer Farfetch started accepting cryptocurrency payments this year.
See related article: Taking opulence online: How blockchain is beckoning luxury brands
