Home Ethereum ApeCoin Deal With Fashion Giant Gucci Boosts Bored Ape Yacht Club Token APE

ApeCoin Deal With Fashion Giant Gucci Boosts Bored Ape Yacht Club Token APE

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ApeCoin Deal With Fashion Giant Gucci Boosts Bored Ape Yacht Club Token APE

The price of the Bored Ape Yacht Club (BAYC)-affiliated crypto asset ApeCoin (MONKEY) gets carried away as Gucci announces that it now accepts APE as payment for in-store purchases.

Gucci is to add APE to its list of supported digital coins following its decision in May to accept crypto payments as it ventures into the digital asset space.

The company first announced Support for 12 digital assets, including Bitcoin (BTC), Etherum (ETH), Dogecoin (DOGE) and Shiba Inus (SHIB).

“Now accepting ApeCoin payments via BitPay, select Gucci stores in the US are expanding the range of cryptocurrencies available for in-store purchases, another step in the House’s exploration of Web3.”

The recent development makes Gucci the first major brand to accept payments in APE. Customers can pay for their purchases with ApeCoin through the BitPay payment platform.

“Excited to announce that Gucci will become the first major brand to allow customers to pay for in-store purchases with ApeCoin, via BitPay.”

ApeCoin bounced back after Gucci’s announcement. At the time of writing, the crypto asset is trading at $7.59, up 9.75% in the last 24 hours.

The news also comes after the Decentralized Autonomous Organization (DAO) of ApeCoin voted to funds BAYC-focused 24-hour news publication The Bored Ape Gazette, which covers topics like Yuga Labs and non-fungible token (NFT) markets.

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Featured Image: Shutterstock/R_lion_O/RomanYa

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