Gucci begins accepting ApeCoin for payments as part of its Web3 plans
As part of its Web3 initiatives, Gucci now accepts ApeCoin as payment. This is the first time a significant brand has begun to accept ApeCoin as a form of payment. Gucci, though, is now accepting payments in a total of 12 different cryptocurrencies. Additionally, they accept widely used coins such as Bitcoin, Ethereum, Dogecoin, SHIB, Litcoin, Wrapped BTC, USDT, and USDC.
The upscale company revealed on Monday that they will take Apecoin as a form of payment. Only the US presently has access to it because not many nations permit the use of cryptocurrencies as payment methods. Gucci and Bitpay have joined to make the payment option available. They are a cryptocurrency payment processing company that has teamed up with numerous household names to make it possible for their companies to accept cryptocurrency payments.
One of the few well-known companies that have been proactively utilizing cryptocurrencies is Gucci. They have released their own NFT line as well as exclusive collections for BAYC owners and followers. The business is making the most of the current NFT and cryptocurrency market frenzy. According to a tweet from Apecoin, Gucci is the first well-known brand to accept Apecoin payments.
The price of apecoin dropped after the project’s first buzz. But there’s no use pointing fingers because the cryptocurrency market as a whole was flawed. However, during the past month, as the market picked up steam and Apecoin experienced some encouraging developments, it has increased by around 50%. It trades above $6.5 and has a market valuation of more than $42 billion. However, compared to its ATH, Apecoin is still down by almost 75%.