Gucci accepts ApeCoin, as Tiffany rolls out NFT CryptoPunk pendants

    03 Aug 2022
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    High fashion brand Gucci said it will accept ApeCoin (APE) as payment at select US stores. The firm already accepts other top crypto coins and collaborates on NFT and metaverse game projects. Meanwhile, Tiffany & Co. announced the rollout of a handcrafted pendants collection modeled on CryptoPunks, another iconic NFT collection owned by Yuga Labs.

    On August 2, the iconic luxury brand Gucci announced on Twitter that it starts accepting ApeCoin payments via BitPay in some of its US boutiques.

    Earlier in May, Gucci said it would authorize crypto payments in some stores in New York, Miami, Atlanta, Los Angeles, and Las Vegas, using Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Shiba Inu, and various stablecoins.

    ApeCoin is the token for ApeCoin DAO, used in the Bored Ape Yacht Club (BAYC) ecosystem Otherside. Created by Yuga Lab, BAYC became the world’s top NFT collection during a boom in the market in 2021, promoted on television and social media by celebrities including Paris Hilton, Stephen Curry, and Jimmy Fallon.

    Minted for around $200, the ape-themed NFTs currently have a floor price of near 84 ETH, or about $135,000. Gucci called the ApeCoin addition “another step in the House’s exploration of Web3,” following various endeavors in the NFT space, including collaborations with 10KTF, SUPERPLASTIC, and SuperRare.

    The Gucci move comes after Tiffany & Co.’s announcement on Sunday that it would roll out a collection of handcrafted pendants modeled on CryptoPunks, another iconic NFT collection owned by Yuga Labs.

    For 30 ETH (or currently about $48,600), CryptoPunk holders could get a replica of their NFT made of at least 30 diamonds or gemstones, and the piece will hang from a gold chain with additional diamonds on the clasp. The luxury brand’s collection will go on sale this Friday in an edition of 250 “NFTiffs,” NFTs redeemable for one of the CryptoPunk-themed pendants.

    According to data from CryptoSlam, the sales volume of the CryptoPunks NFT collection has spiked over 248% in the last 24 hours following an exclusive offer from Tiffany for CryptoPunks NFT holders.

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