As the new digital currency platform got introduced to the market, an enthusiasm to know about it and use it got higher and higher. With time it was also adopted by various organizations and companies as their mode of payment. One such big brand name to join the list is the Italian brand Gucci. Needless to say, Gucci is a brand that almost every single being is aware of. Just recently, Gucci became one of the users of the digital currency platform and started using or accepting payments through ApeCoin.
Take a look at Gucci’s move to accept ApeCoin
The move made by Gucci is an endeavor to bring crypto into the light of the mainstream and to get it further exposed to the world. Needless to say, the crypto industry runs on the temperament of those associated with it. The more it is propagated the more it stays high in value. Therefore, with Gucci’s brand name attached to it, the crypto market can get a huge exposure which can further boost their market price. It can also bestow upon the crypto various other utilities as well.
With the help of these coins, those who buy a Gucci item available in its stores, pay with ApeCoin. The infrastructure through which the payment shall be done shall be handled by the infamous Bitpay. This particular firm has been responsible for enabling various well-known companies to adopt crypto payment systems. One of these companies is the AMC theatres which have been able o accept payments made through crypto in the past with the help of Bitpay.
Gucci’s smart and brave move into crypto
Even though the crypto market has been going through one of the roughest times it has ever experienced, which is otherwise known as a bear market, Gucci still decided to dive into this venture this particular year. This year, Gucci took its first step into this idea with its SuperGucci NFT collection initiative in collaboration with Superplastic, which is a vinyl toy brand.
Following it, Gucci introduced another initiative whose main aim was to get hold of the owners of the NFT projects which are in the lead. This initiative was known as the “Gucci grail” and it targeted top-tier NFT projects such as the BAYC. In the following days, it also announced another remarkable step that it took into the crypto market which as it’s the decision to accept as many as eleven crypto assets all across its stores in North America. Some of the crypto assets included in its list were Bitcoin, Bitcoin cash, Ether, Wrapped Bitcoin, etc.
Do other firms support Gucci’s move?
Gucci’s move into the world of crypto has garnered huge support from some of the well-known companies as well as top-tier NFT projects such s BAYC. Uber it’s a synonym, this firm has even claimed to be one of the first customers who paid at a Gucci store using crypto assets such as Ether. After that various of its members have also come out as consecutive customers to pay for Gucci items at its stores by paying with crypto assets.
With its introduction in the market in March this year, the ApeCoin has experienced quite a huge popularity and has even seen a lot of engagements. It has also been part of some very important decisions such as scraping down the idea to port the ApeCoin from the Ethereum blockchain system to a new system. It is, currently, working simultaneously on different types of projects and has also shown a positive trend which has been responsible for the rise in its value.