The luxury fashion brand Gucci has provided the option of making payments using Apecoin via Bitpay in certain Gucci boutiques across the USA. This announcement came from Gucci via one of its most recent Twitter posts. This is viewed as to be an extension of Gucci’s fashion label to the world of web3.
The popularity of crypto is increasing despite the times when these instruments aren’t putting up their highest price performance. Despite the fluctuation and volatility, businesses and giants of industry around the globe are taking advantage of cryptocurrency and jumping on the wave.
While some jump onto the bandwagon to get publicity Some are truly convinced about crypto and the technology’s real potential. Gucci decided to take a risk in the month of May when it announced it would be accepting cryptocurrency as part of an experiment to see the way things are going. Nearly three months after the announcement it appears that things are going well for the fashion company as it confirmed the acceptance of ApeCoin through BitPay.
Gucci is the first company to utilize BitPay, a payment processor which has been operating since 2011 and has since begun accepting ApeCoin. Gucci has an entire staff dedicated to web3 projects along with gaming, is a track record of cryptocurrency-related ventures, and is just the most recent.
The prior adoption of crypto was done by a different method. An email sent to customers will include an email link that can be used to make in-store crypto payments. This means that the link will include the QR code, which will enable customers to pay with their cryptocurrency wallets.
The BitPay platform has become an invaluable resource for companies looking to get into the market of crypto. ApeCoin holders can go to select Gucci stores to purchase their Gucci items using APE.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.