In a now deleted tweet, leading luxury brand Gucci has made massive waves this morning. On twitter, they announced via a tweet that they are now accepting @ApeCoin payments via @BitPay,select Gucci boutiques in the USA expand the range of cryptocurrencies available for in-store purchases, yet another step in the House’s exploration of Web3. For the first time ever, holders of this crypto currency will be able to buy physical goods with the coin that was derived from the BAYC economy.
Update: They have added an additional tweet with essentially the same information (and another typo).
While the tweet remains true, the announcement is a bit more lackluster as bitpay has added apecoin and Euro Coin to their expanded coin integrations. You can read the press release here.
We added ApeCoin and Euro Coin because customers of our luxury merchant partners asked for it, said Stephen Pair, BitPay CEO. They asked, and we delivered.
We have reached out for confirmation or denial based on the deleted tweet. Details to follow.
The Gucci story is a tale of luxury, fashion and style. It is one of the most iconic brands in the world.
In 1881, Guccio Gucci founded his company as a saddlery shop in Florence, Italy. His son Aldo would later take over the family business and turn it into a luxury goods empire.
Gucci became an international company in 1963 when it was acquired by Investcorp, an investment company based in Bahrain and London.
In 2000, Gucci was acquired by PPR (now known as Kering), a French multinational conglomerate that owns brands such as Balenciaga, Saint Laurent and Alexander McQueen.
Gucci has since grown to become one of the world’s leading luxury fashion brands with over 60 stores worldwide.
You can also see how other luxury brands have been embracing NFTs in our article here.
Culture has found new expression in web3 through art, gaming, entertainment, and events. The possibilities for blockchains impact on culture are so endless that they cant possibly all be predicted yet. APE is a token made to support whats next, controlled and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.
ApeCoin (APE) is the native ERC-20 token of the Bored Ape Yacht Club NFT collection, a subsidiary of Yuga Labs. ApeCoin will be the primary token used across the Ape ecosystem, a world of Web3 games, experiences and communities. In addition to spending with BitPay merchants, APE holders can turn ApeCoin into cash instantly with the BitPay Card, plus buy gift cards for top brands and retailers. BitPay app users can also buy, store and swap APE seamlessly.