Spend Your ApeCoin on Gucci!

Farah Diana Patcha . August 03, 2022

Photo: Zipmex.com

Techspace - Following Bitcoin and Ethereum, ApeCoin is now available on the Gucci payment methods using BitPay. According to the tweet, ApeCoin can be used at selected offline Gucci stores in the US. The news was confirmed by Gucci via its official Twitter on Tuesday (8/2). Gucci said it is another step on its exploration of Web 3.0. 

This was possible because of the partnership deal between the brand and BitPay, which was announced in May. In addition, BitPay declared that it added ApeCoin and Euro Coin (EUROC) on its platform today. Through this partnership, Gucci has now accepted ten cryptocurrencies on its payment system. Within this news, Gucci will be the first store that accepts ApeCoin as a payment method. 

Read also: NFTiff, the First Jewelry NFT From Tiffany & Co

Gucci Move Into Web 3.0

Gucci has been showing its interest towards the Web 3.0 ecosystem, which started from “SUPERGUCCI”, a collaborative NFT between Superplastic NFT and Gucci in January this year. After that, Gucci decided to move further into Web 3.0 by releasing its own virtual world on The Sandbox, part of the Ethereum metaverse game. Still related to NFT, Gucci held its digital exhibition to celebrate Gucci’s 100- year history with SuperRare, an NFT artwork platform.

What’s more, Gucci also did another NFT project with 10KTF, a fictitious digital accessories designer. They collaborated to create a 10KTF Gucci Grail Mint Pass, for Discord user’s profile picture needs that are open for sale at OpenSea. 

Read also: Play Solitaire, Sudoku, and Missing Letters to Earn Bitcoin!

More details on ApeCoin..

ApeCoin ($APE) is a token based on the BAYC project that was built under the Ethereum blockchain, which was released in March 2022. As a Web 3.0 token, ApeCoin can be used as payment methods within the Web 3.0 ecosystem. ApeCoin was launched with a total of 1 billion tokens available for the users. 

Even though Yuga Labs is the team behind the BAYC, the token is created by ApeCoin DAO, a new decentralized autonomous organization that authorized the token and created the paths forward. 

The launch of ApeCoin gives the BAYC NFT holders so much benefit. Each BAYC NFT holder can get a certain amount of free ApeCoin from its website. Besides, ApeCoin is also available for purchase in several cryptocurrency exchanges for those who want ApeCoin. 

Read also: What Is a DAO and Its Relations with NFT

The big move among the luxury brands towards Web 3.0 signifies that there will be other collaboration opportunities in the future. These collaborations will bring great impact for the Web 3.0 ecosystem because of its partnership with the brands. The more exposure it gets, the more valuable it is. 

(FDP)

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