Bored Ape Yacht Club (BAYC) crypto asset price ApeCoin (APE) is going bananas after Gucci announces it now accepts APE as payment for in-store purchases.
Gucci is adding APE on its list of supported digital currencies following its decision in May to accept crypto payments as it enters the digital asset space.
The company initially announced support for 12 digital assets, which include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Shiba Inu (SHIB).
“Now accepting ApeCoin payments through BitPay, select Gucci boutiques in the US expand the range of cryptocurrencies available for in-store purchases, another step in Home’s exploration of the Web3.”
Recent development makes Gucci is the first major brand to accept payments on APE. Customers can pay for their purchases with ApeCoin through the BitPay payment platform.
“Excited to announce that Gucci will become the first major brand to allow customers to pay for in-store purchases with ApeCoin, via BitPay.”
ApeCoin rallied after Gucci’s announcement. At the time of writing, the crypto asset is trading at $7.59, up 9.75% over the past 24 hours.
The news also comes after ApeCoin’s decentralized autonomous organization (DAO) voted to fund BAYC-focused 24-hour news publication The Bored Ape Gazette, which covers topics such as Yuga Labs and non-fungible token markets ( NFT).
Don’t Miss a Beat – Subscribe to Get Crypto Email Alerts Delivered Directly to Your Inbox
Check Price Action
Follow us I tweetFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/R_lion_O/RomanYa
