Cryptocurrency

Gucci and TAG Heuer Latest to Ape into ApeCoin

As luxury fashion embraces Web3 adoption with partner BitPay.

Cryptocurrency

Gucci and TAG Heuer Latest to Ape into ApeCoin

As luxury fashion embraces Web3 adoption with partner BitPay.

Gucci announced Tuesday, August 2, that it has expanded its crypto payment options to include the Bored Ape Yacht Club’s native token ApeCoin (APE). To date, 70% of Gucci’s retail stores accept over 10 different cryptocurrencies as payment across the U.S. through its solutions partner BitPay.

The announcement was well received by the Bored Ape Twitter community, with some holders already making use of the integration.

In what appears to be the first purchase from Gucci with the token, BAYC holder BRYTE bought a tee shirt for 156 APE (approximately $1060 USD) — a purchase he said was “for the culture.” Of course, BRYTE was sure to show up in full BAYC attire, including accessories that match his NFTs traits — which another holder ironically foreshadowed would happen.

Following the Italian fashion house in accepting ApeCoin is Swiss luxury watchmaker TAG Heuer. First integrating BAYC NFTs into design elements of its Calibre E4 digital watch, it will now allow clients in the U.S. to purchase timepieces using APE — which like Gucci, is also made possible through a partnership with BitPay.

“We added ApeCoin and Euro Coin because customers of our luxury merchant partners asked for it,” said BitPay CEO Stephen Pair adding, “they asked, and we delivered.”

The adoption of Web3 technology continues to grow in the luxury fashion space with these integrations joining that of Balenciaga accepting crypto payments in the U.S., Prada launching its third NFT collection, and Tiffany & Co it’s first.

Through integrations like these brands are looking to provide more immersive and interactive consumer experiences.

Elsewhere in Web3, the Figuregot brand is taking an unorthodox approach to NFTs.

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