Gucci Will Now Accept Bored Ape Yacht Club’s Cryptocurrency

The high-end fashion retailer Gucci is now accepting ApeCoin -- the Bored Ape Yacht Club's proprietary cryptocurrency as a method of payment in certain US branches, as per an announcement on Twitter on Tuesday..

Based on the fact that ApeCoin was originally a limited, claimable cryptocurrency that was originally designed to Bored Ape and Mutant Ape holders, this alliance aims to provide owners of these highly regarded NFTs and cryptocurrency a brand new method of representing their community in real life -- through clothing from the storied fashion brand.

In recent times, Gucci has been gradually establishing its presence in Web3. in 2021. Gucci was a part of the huge bull market in the market of NFT by transforming the Aria fashion line into a video for the NFT that was auctioned for $25,000 during Christie's Proof of Sovereignty auction.

Fashion brands that are luxury are now adding NFT products

In the month of January, 2022 Gucci along with other famous names from the world of art and fashion released a collection comprising 10,000 NFTs that were generated programmatically in collaboration in collaboration with Superplastic. In Marchof this year, Gucci unveiled a line of their own, The 10KTF Gucci Grail Mint Pass collection. This project let holders design individual PFP outfits composed of pieces inspired by eleven of the most well-known NFT projects of the time.

Yet, Gucci is far from the only high-end fashion brand entering the NFT market. Brands such as Prada or Balenciaga each have made NFT debuts in 2022. They packaged their exclusive physical items with similarly exclusive digital offerings. For those in the NFT community who also have an intense passion for fashion, the rising number of NFT projects spearheaded by luxury brands is an exciting appearance. This is to be expected because Web3 offers a vast array of possibilities no matter if you're just an individual, or one among the largest brands around the world. Brands, too Web3-first initiatives provide new opportunities to develop campaign for loyalty to brands that offer unprecedented levels of engagement and depth.

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