updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Kering first signalled interest in the acquisition of Creed earlier this year.
A Financial Times report has revealed how much Gucci owner Kering paid to acquire fragrance label Creed late last month. Per the report, which cited in-house sources, the deal saw Kering pay around 3.5 billion euros (approximately $3.83 billion).
Kering, the French luxury group, first signaled interest in the acquisition of Creed earlier this year. At the time, Kering said the acquisition is in line with its efforts to expand its beauty unit. The group also projected that the acquisition will improve its chances to compete against the likes of LVMH and Hermès.
According to the FT’s Monday report, however, the all-cash deal for the Paris-based luxury group to buy 100% of Creed from funds controlled by BlackRock Inc. and current chairman Javier Ferran, will close sometime in the second half of the year.
Although the payment was reportedly made last month, FT suggests that the firm may have intentionally left out the details of the transaction initially. This was so as not to publish Creed’s robust profit margins.
As earlier mentioned, the recent move by Kering is aimed at strengthening its beauty segment. And to that end, the group named Raffaella Cornaggia to head the unit in February.
However, it is noteworthy that its focus on the so-called beauty unit may have been influenced by some of its rivals in the luxury business. For example, it is worth noting that Hermès International and LVMH Moët Hennessy Louis Vuitton SE have been relatively successful in the beauty segment recently.
More so, Kering’s interest in acquisitions goes beyond just Creed. And to achieve its aim, the firm has been raising funds from all sides. It, however, saw the most significant fund to help its cause from the sale of its Puma SE stake.
By acquiring Creed, Kering will be looking to tap into the growing demand for luxury cosmetics. But more importantly, it would also be hoping to leverage its reputable brands like Gucci, to scale its cosmetics business.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur.
Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.
Altcoins have been gaining significant ground and recognition in recent years, as the crypto market has expanded and grown to encompass more users and use cases.
The proof that cryptocurrency’s legitimacy goes on beyond Bitcoin (BTC) can be seen clearly in the many recently released media stories and statistics, including Gucci’s acceptance of ApeCoin (APE), and the reveal that the Cardano (ADA) network is now supporting over 3.5 Million wallets.
With all of this in mind, new projects like RoboApe (RBA) are entering the market at an interesting time. Altcoins are more legitimised than ever, and with their exciting premise and wide utility, there is much potential for RoboApe (RBA) to become a major market player.
Fashion empire Gucci is no stranger to cryptocurrency.
With their acceptance of Dogecoin (DOGE), the original meme coin in select stores, it may not be a surprise that the brand has also decided to take on the widely popular ApeCoin (APE) as a form of payment. However, unlike Dogecoin (DOGE), ApeCoin (APE) is a token far newer to the market, making the decision somewhat unexpected.
ApeCoin (APE) is the creation of Yuga Labs and is the token for use in their Bored Ape Yacht Club metaverse, Otherside. With its association with one of the most valuable NFT collections on the marketplace, and the intense commitment of collectors and community members, the tokens launch was an explosive one, with the token rapidly rising in value and significance.
This caused many to buy into the token, making it particularly popular. It is likely for this reason, therefore, that Gucci has jumped on board to accept the token.
So, will you be buying your designer clothes with meme coins any time soon?
Despite the limited use cases of some meme coins, the success of tokens like Dogecoin (DOGE) and RoboApe (RBA) is proof that with good marketing, an understanding of the audience of the token, and comprehensive knowledge of meme culture, any meme coin can be successful.
Therefore, it stands to reason that a meme coin that possesses all of these plus a range of utility may have the potential to go even further in the market.
RoboApe (RBA) is a meme coin built on the Ethereum (ETH) network and is the token behind the sprawling platform and its many economic assets. It is deflationary, meaning that individual token values will rise as the overall number of tokens in circulation decreases over time.
The RoboApe (RBA) platform will include a host of ways for users to utilise their RBA tokens, from an NFT marketplace, eSports ventures, to a SWAP service. This will allow RoboApe (RBA) to have a wide appeal to just about any crypto user, depending on their goals in participating in the ecosystem.
The ecosystem is set to be a thriving one, thanks to the platform’s low transaction fees and infrastructure thanks to the Ethereum (ETH) blockchain. The platform will also be routinely built upon by the development team to keep users engaged and satisfied with their experience.
With all this in mind, RoboApe (RBA) has been able to set itself apart from other meme tokens, taking fun community aspects of these tokens and backing them up with wide utility. It makes the project one worth watching out for, and a presale not to miss.
Make sure you check it out!
If the potential seen in RoboApe (RBA), or the acceptance of ApeCoin (APE) by a major brand isn’t enough proof of the legitimacy and scale of altcoin projects in today’s crypto market, consider the recently announced milestone reached by Cardano (ADA).
It was recently revealed that open-source blockchain platform Cardano (ADA) now has over 3.5 million wallets across its vast network. This is in spite of the fact that Cardano (ADA) only launched in 2017, meaning that this amount of success has come to them in just five short years.
Cardano (ADA) is a blockchain praised by many crypto enthusiasts, thanks to its low energy use per transaction, scalability, and open-source accessibility, making it perfect for investors and inventors alike. It is no surprise that the network has been successful, and this number of wallets on their network is proof of that.
Are you one of the 3.5 Million on the Cardano (ADA) network? If not, now is your time to give it a try.
Want to learn more about RoboApe (RBA)? Check out this article to find out more.
Want to know more about RoboApe (RBA)? Find out more at the following links:
Presale: https://ape.roboapetoken.io/register
Website: http://roboapetoken.io/
Telegram: https://t.me/ROBOAPE_OFFICIAL
Twitter: https://twitter.com/ROBOAPE_TOKEN
Instagram: https://www.instagram.com/roboapetoken
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Luxury clothing designer brand Gucci has announced that it will soon begin accepting Dogecoin payments in its retail stores. Dogecoin has been a formidable contender when it comes to the payments space due to it having not only a very large supporter base but also being a cryptocurrency with very low transaction fees. Various brands have been jumping on the bandwagon to take advantage of the meme coin, with Gucci being the latest to do so.
In a recent announcement from Vogue Business, Gucci has said that it will begin accepting the meme coin Dogecoin as a method of payment. This comes with the brand’s new move to accept cryptocurrency payments in its retail stores. Dogecoin had made the list among leading cryptocurrencies such as Bitcoin and Ethereum. In total, Gucci will be accepting crypto payments in more than 10 digital currencies.
Related Reading | Ethereum Whales May Be Bearish Towards Shiba Inu As Balance Drops Below $1 Billion
Crypto payments are said to be rolled out later this month across various retail stores but this will only be available at a select few stores in the beginning. The first stores to begin accepting payments in these cryptocurrencies include Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.
Dogecoin’s rival Shiba Inu had also made the list of cryptos that will be accepted by these Gucci stores. Others include Bitcoin Cash, Wrapped Bitcoin, Litecoin, and five stablecoins in total which are pegged to the United States dollar.
All crypto payments will be made using a QR code or an NFC reader that will be available at the point of sale terminals in these stores. Customers will be able to pay for items they purchase using their smartphone and the payments made can be converted to fiat currency instantly or be kept in the cryptocurrency in which they were paid, according to the announcement.
A worldwide brand like Gucci announcing the acceptance of crypto payments is a big move for the crypto market. However, Dogecoin has not respected this news the way its investors would expect. The meme coin which had jumped after Musk’s bid to buy Twitter had been approved had subsequently gone on a long-suffering downtrend.
DOGE trending at $0.13 | Source: DOGEUSD on TradingView.com
This downtrend has continued despite the news of Gucci accepting payments in Dogecoin. It continues to trend at the $0.13 level with no real sign of significant movement upward. This is a direct result of the low momentum that has plagued the digital asset after losing more than 700,000 holders since the start of 2022.
Related Reading | Crypto Legalisation Still Unsure In Pakistan?
Since the ‘Dogefather’ Elon Musk is yet to finalize his purchase of Twitter, it is expected that the meme coin is lying in wait for the news to break. However, it seems Musk seems to have found a new pet project in ApeCoin after changing his Twitter profile picture to BAYC avatars causing the cryptocurrency to gain 20% minutes following the change.
Featured image from MARCA, chart from TradingView.com
The crypto markets may be swooning, yet mainstream companies continue to embrace blockchain technology to deepen their connection with customers.
The latest converts: Gucci and Starbucks.
Gucci, the iconic Italian fashion house, plans to accept digital tokens — Bitcoin, Bitcoin Cash, Ether, Dogecoin, Litecoin, Shiba Inu, and several stablecoins — in select U.S. stores at the end of May.
Gucci will allow in-store crypto payments via an email sent to the customer. This email contains a QR code that allows them to execute the payment from their crypto wallet.
Previously, Gucci had released an NFT collection called Supergucci as a partnership with animation studio Superplastic and an NFT collection called 10KTF Gucci Grail inspired by Alessandro Michele, Gucci’s new creative director .
Meanwhile, Starbucks, the gourmet coffee giant with 32,000 stories in 80 nations, is launching NFT collections to “allow for access to exclusive experiences and perks.” Translation: the company wants to use nonfungible tokens to strengthen its loyalty programs, a function that’s attracting attention from corporate marketing departments and investors.
Playing off the idea that customers work in Starbucks shops in addition to offices and residences, Starbucks is dubbing its foray into blockchain as The Digital Third Place. The team plans to create NFT collections based around coffee-related art.
Starbucks’s approach will “likely be multi-chain or chain agnostic […] and will certainly start collections backed by blockchains and infrastructure that is consistent with our multi-decade commitment to sustainability,” according to its press release.
Gucci (PPRUF) is going crypto.
The iconic Italian luxury brand will accept cryptocurrency payments in some US stores at the end of May, Vogue Business reported, and plans to extend the pilot to all of its directly operated North America stores this summer.
Gucci, which did not immediately respond to a request for comment, will accept payments in more than 10 currencies, including bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, shiba inu and five stablecoins pegged to the US dollar.
The first Gucci stores to take crypto are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta and The Shops at Crystals in Las Vegas.
“The news of Gucci announcing its accepting cryptocurrencies as payment later this month means that there will be a growing demand for crypto-to-fiat conversion as Gucci will be ultimately accepting fiat funds,” said Fuad Fatullaev, founder and CEO of WeWay. “This means that banks and other payment services will be viewing crypto-to-fiat services as a new dimension of financial services. It will consequently allow such service providers to expand their clientele.”
This Gucci initiative may also instigate another wave of mainstream cryptocurrency adoption, Fatullaev said, “inviting others to follow into their footsteps. And it will also show a larger audience especially in North America that cryptocurrencies can be an actual everyday payment means.”
“Gucci’s crypto adoption is a huge step forward for the broader crypto market,” said Alexander Mamasidikov, co-founder of mobile digital bank MinePlex. “It is indicating that the top players in various industries believe in the long-term potential of bitcoin and other major cryptocurrencies.”
Mamasidikov said that Gucci’s acceptance of cryptocurrencies “also shows a growing trend of luxury brands entering the crypto space.”
He noted that in March the fashion label Off-white started accepting payment with six cryptos in its flagship stores in Paris, Milan and London.
“And now Gucci comes to this space,” Mamasidikov said. “All of these actions show highly likely that other major luxury brands in the world will follow a similar path and provide crypto payment options to their customers.”
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In-store crypto payments will be made with a link sent via email to the customer; the link contains a QR code that allows them to execute the payment from their crypto wallet.
“The news on crypto payments could appeal to the crypto crowd and generate hype over the brand, resulting in a free marketing blitz,” Luzi Ann Santos, markets expert and editor, Finder. “How much of it will actually turn into sales remains to be seen.”
“On the flipside, acceptance of cryptocurrency payments could provide an amount of unpredictability on sales given the volatility of the crypto market in general,” Santos said. “They could manage that risk in much the same way companies typically hedge their forex exposure. That would however require converting a big chunk of crypto sales into dollars for greater predictability in managing their topline. They would probably keep some of the sales in crypto to benefit from a long-term rally.”
The arrival of well-known, established brands like Gucci accepting digital currency payments is nothing new, Santos said, “and speaks strongly towards the widespread adoption of cryptocurrency, NFTs and exploration of the metaverse.”
Santos said this is not Gucci’s step into the world of tech and Web3. In May 2021, the company offered its first NFT: a fashion film with a starting bid of $20,000.
“Given how much payments are still made in cash in these types of stores makes total sense,” one person tweeted.
Another commenter said Gucci’s acceptance of crypto “confirms the increasing influence of crypto on the world. And that’a awesome.”
“This is bigger news than people might think,” another person tweeted. “Opens the door for other big brands accepting bitcoin.”
In January, Gucci announced the launch on discord, a digital distribution platform, of Vault, “as a place to foster open conversations with the community about what’s next in the metaverse.”
The Gucci Vault Discord is described as the “official server for the House’s new experimental creative space envisioned by Creative Director Alessandro Michele where the past, present and future co-exist, exploring new digital realms alongside a curation of vintage Gucci pieces and noteworthy designers.”
Italian high-end luxury fashion house Gucci is looking to add crypto as a payment option in some of its U.S. stores from late May, with plans to expand the pilot to all its North American stores by summer 2022.
According to a May 4 report, Gucci will accept in-store crypto payments by emailing customers a link comprising a QR code. After scanning the QR code, customers will be able to complete the transaction through their crypto wallets.
The first Gucci stores to accept crypto payments are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.
The company will accept more than ten cryptocurrencies for payments. These include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and five stablecoins pegged to the U.S. dollar.
The company did not specify which stablecoins it plans to accept.
Commenting on the upcoming development, Gucci President and CEO Marco Bizzarri said:
Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers.
He added:
Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.
This news comes after Gucci teamed up with SUPERPLASTIC to launch a non-fungible token (NFT) collection dubbed SUPERGUCCI. The collection comprises 500 NFTs that synthetic artists Janky and Guggimon co-created. Data from OpenSea shows the collection’s floor price is 3.98 Ether (ETH).
Apart from Gucci, other renowned brands have also onboarded the web3 bandwagon to integrate crypto payments, drop NFTs, or venture into the metaverse. An example is fashion designer Philipp Plein, who started accepting crypto payments through a partnership with Coinify.
Meanwhile, Zara, a Spanish apparel company, recently dropped its first solo collection dubbed Lime Glam in the metaverse, which can be worn both in the real world and the Zepeto metaverse.
Nike also recently partnered with RTFKT Studios to launch its first NFT collection on the Ethereum blockchain. Dubbed RTFKT x Nike Dunk Genesis CRYPTOKICKS, the NFT collection is designed for use in the metaverse.
Luxury retail brand Gucci has reportedly embraced payments in the form of cryptocurrencies in some stores operated in North America.
What Happened: Gucci plans to accept 10 cryptocurrencies, including Bitcoin BTC/USD and Ethereum ETH/USD, as well as meme-based Dogecoin DOGE/USD and Shiba Inu SHIB/USD, as a means of in-store payment from the end of of this month, according to Vogue Business.
See Also: How To Buy Bitcoin (BTC)
The first Gucci stores to accept cryptocurrency will be those on Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas, according to Vogue, which cited a company statement.
Benzinga reached out to Gucci for confirmation but didn’t get a response — outside of business hours — as of press time.
Gucci plans to extend the pilot to all of its directly operated stores in the country, according to the report, which added that customers would be able to make payments using their digital wallet by scanning a QR code.
Why It Matters: The Kering SA-ownedPPRUY luxury retailer had previously launched a collection that outfitted existing NFTs in new clothes. It has also set its sights on the metaverse, picking up a plot of virtual land in The Sandbox SAND/USD in February.
See Also: HOW TO INVEST IN THE METAVERSE
The last year has seen a number of major retailers across various industries accept crypto as payment. In March, major theatre chain AMC Entertainment Holdings Inc. AMC began accepting DOGE and SHIB for online movie ticket purchases.
Price Action: According to data from Benzinga Pro, the leading digital asset Bitcoin was trading at $39,600, up 4.5% over 24 hours.
