The Florentine house, which has been testing cryptocurrency payment within its American retail network for a few weeks, is taking it a step further and strengthening its scope of digital currencies.
Gucci, the first luxury brand to accept ApeCoin.
Last May, Gucci announced the deployment of a cryptocurrency withdrawal program in five of its stores in the United States. Launched with testing and learning in stores in New York (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals), this service has enabled customers to pay for their purchases in various electronic currencies including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu or Dogecoin.
These days the house of the Kering group announces the amplification of this device with the integration of additional cryptocurrencies, including ApeCoin. Launched last March, this decentralized currency based on the Ethereum blockchain was in particular created for members of the Bored Ape Yacht Club (BAYC), one of the most powerful NFT communities that is based on a collection of 10,000 digital creations featuring monkey characters.
Last spring Gucci had already approached BAYC through its Gucci Grail project, which then made it possible to customize an NFT in the brand’s colors within different partner universes.
According to ApeCoin e BitPay – the cryptocurrency payment solution adopted by Gucci -, the house would therefore be the first international brand to accept this currency while in the process, even the watchmaker Tag Heuer – which allows you to view NFTs including BAYC on its Connected Caliber E4 smartwatch – has announced to offer this option.
While Gucci sees this initiative as “a new stage in the way home explores the Web3“, BitPay – which also oversees Hublot’s cryptocurrency payments in the US – specifies that 70% of the Gucci-operated network in the US now accepts cryptocurrency payments in thirteen different currencies. 30% of the remaining network is expected in the next few years. days .
According to a recent study by Deloitte, 75% US merchants are reportedly planning to accept cryptocurrencies as a form of payment within the next two years, considering this feature a “competitive advantage“.