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ApeCoin Now Accepted By Gucci

After adding Shiba Inu and Dogecoin to the list of available payment options, Gucci has now started accepting ApeCoin.

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Italian luxury fashion house Gucci announced that it now accepts ApeCoin (APE) in a tweet Tuesday. The coin will be available for purchase in select stores in the United States.

The Florence-based fashion giant started accepting cryptocurrencies in early May to attract more crypto-friendly customers after the 2021 bull market. In addition to Bitcoin and Ethereum, Gucci also started accepting payments in smaller cryptocurrencies, including Dogecoin and Shiba Inu.

Gucci customers can pay with the help of a QR code sent to them via email. Last month, one of the biggest names in the fashion world also invested $25,000 in the decentralized autonomous organization (DAO) of the NFT marketplace SuperRare.

In February, the plush toy brand released a series of NFTs in partnership with toy brand Superplastic.

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Other big names have also embraced digital fashion. Dolce & Gabbana introduced its own NFT collection last September.

German fashion house Philipp Plein, known for its particularly colorful outfits, started accepting cryptocurrency payments last August. In April, Philipp Plein, the designer behind the brand, predicted that his company would earn around $16 million from crypto enthusiasts this year.

It can be said that the playground of cryptocurrencies is increasingly popular in many fields, from art, sports, and even fashion.

ApeCoin, launched in March, is the official cryptocurrency of the Bored Ape Yacht Club NFT ecosystem. Despite generating traction after launch, the token has failed to gain sustained momentum. It is currently in 32nd place by market cap (below both Bitcoin Cash and Monero).

APE daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.