Gucci and TAG Heuer announced that they’re both accepting ApeCoin now.
That’s a bit random, isn’t it?
Maybe I’m wrong but I think that in order to be usable and useful as a means a payment, a cryptocurrency should tick certain boxes.
It must be transactable using a wallet address only. In other words, it doesn’t work if you need an additional memo or tag because it adds one more step of the process that can go wrong.
It must have low fees and fast transaction times.
It must be inflationary, because will be less inclined to spend it if it isn’t.
And it shouldn’t exist on the Ethereum blockchain because that means low speed and high fees.
And ApeCoin is on the Ethereum blockchain. There was a vote, actually. About 54% of ApeCoin owners and users voted in favour of keeping the token on Ethereum, despite its high transaction fees.
But I digress.
ApeCoin (APE) was launched as the Bored Ape Yacht Club’s native token and after a brief rally, it settled down and it is now trading at around $7.
Granted, Gucci and TAG Heuer will accept crypto via BitPay, which means they rely on a third party which helps them keep transaction times acceptable. But still. I still find that odd.
But hey, whatever works for me. Also, I own some ApeCoin so no skin off my nose.
Also, TAG Heuer recently came up with a feature that allows NFT owners to display their collectible on the dial / face of the Connected smartwatch, so I guess that makes sense.
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