Now Pay In Cryptos For Your Designer Gucci Dress, Starbucks Coffee, Movie Tickets And More
You can now pay for your next luxury Gucci dress using the Bored Ape Yacht crypto coin APE. But did you know, at one point, you could also have bought a KFC chicken bucket and coffee at Starbucks using Bitcoin.
Italian luxury clothing brand Gucci became the first major mainstream brand to accept cryptocurrency after it allowed its customers to pay in Bored Ape Yacht Club APE Coin for their retail transactions.
The Bored Ape Yacht Club’s APE crypto token was launched about five months ago. The coin opened for trading at $7.3 on March 17, 2022. But despite its hyped launch, it could not sustain its opening price. On August 10, it was trading at $6.84, according to Coinmarketcap.
The Bored Ape Yacht Club NFTs are hugely popular. Some of the NFTs sell for as high as $1,00,000. Bored Ape Yacht is also planning to launch an APE-themed metaverse, currently under trial.
Animoca Brands, the creator of the Sandbox (SAND) metaverse, has recently announced that it will accept the APE coin for its Benji Bananas play-to-earn blockchain game.
However, APE coin supply is restricted. During its launch, it stated that it would have one billion tokens in supply and no minting or crypto burning would be allowed.