Luxury fashion brand Gucci is now accepting ApeCoin payments through BitPay at select stores in the US, according to a tweet on Tuesday morning.
Now accepting @ApeCoin payments via @BitPay, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House's exploration of Web3.
— gucci (@gucci) August 2, 2022
ApeCoin is the cryptocurrency affiliated with the Bored Ape Yacht Club, an non-fungible token (NFT) project created by Yuga Labs.
Gucci will become the first merchant to accept ApeCoin through BitPay, a payment service provider that has been in operation since 2011. This isn't the first cryptocurrency that Gucci has moved to accept, however. In May, the brand started accepting bitcoin, litecoin, dogecoin and other cryptocurrencies at select US stories.
The move is the latest in a series of crypto initiatives from Gucci, which has a team dedicated to web3 initiatives and gaming. The firm has also launched games on Roblox, including Gucci Garden, which has had 19 million visitors. Gucci has also created "skins" for avatars in games like Animal Crossing and Pokemon Go.
In June, Gucci announced joined the decentralized autonomous organization (DAO) behind the NFT marketplace SuperRare, acquiring 150,000 $RARE tokens, worth around $31,000 at the time, to join the DAO and earn governance rights within the community.
