In recent years, the cryptocurrency sector has gained huge mainstream adoption and recognition. The sector is spreading within the mainstream sector much faster than it is perceived by the investment community.
Many institutional firms and mainstream companies have started to adopt cryptocurrencies. This is because they have started to realize the tremendously growing demand for cryptocurrencies among the common people.
Gucci Recognizes ApeCoin (APE)
ApeCoin has reportedly become the latest breaking news within the mainstream as well as the cryptocurrency sector.
The cryptocurrency has reportedly been adopted by Gucci, one of the largest high-end and top-notch luxurious brands in the entire world.
Gucci announced on Thursday via Twitter that they have integrated APE to their payment method. The users will now be able to carry out in-store purchases using APE.
However, Gucci has confirmed that the services are limited to particular stores in the United States for now. To be precise, APE will be available at select US boutiques.
Gucci Chose BitPay
Gucci has confirmed that it chose BitPay to provide it with the facility of accepting APE at the US select stores.
Gucci has taken a praiseworthy step by accepting cryptocurrencies and making things easier for its regular customers. By accepting APE, Gucci has contributed tremendously by attracting the masses to the world of cryptocurrencies.
Gucci’s Adoption of Cryptocurrencies
It was back in May 2021 when Gucci adopted cryptocurrencies. At that time, the Florence-based fashion giant had started accepting Bitcoin (BTC) and Ethereum (ETH).
Over time, Gucci continued expanding its cryptocurrency offering by announcing that it also accepts Shiba Inu (SHIB) and Dogecoin (DOGE).
This way, Gucci has continued expanding its cryptocurrency offerings and has built up a strong user base interested to pay in cryptocurrencies.
When a Gucci customer wants to pay with either of the supported cryptocurrencies, they can receive a QR code through email and scan it to make payment.
Cryptocurrency Endeavors by Gucci
Gucci is also making investments in the cryptocurrency industry as it reportedly invested $25,000 in SuperRare. SuperRare is an NFT marketplace supported through the decentralized autonomous organization (DAO).
Back in February of 2022, Gucci had formed a partnership with Superplastic and materialized the deal in the form of a series of NFTs.
Gucci is not the only brand in the world of fashion that has gained exposure in cryptocurrencies as other brands are following the same trend.
Brands such as Dolce & Gabbana have also introduced their own non-fungible tokens for their customers to collect.
At the time of writing, the trading value of ApeCoin is worth $7.07 and it has recorded a 3.64% surge in the past 7-days. If more platforms such as Gucci keep adopting APE, its value may continue rising significantly.