Gucci starts accepting crypto payments
Gucci will start accepting cryptocurrency payments at five American stores later this month, the cities that will receive the initial tests are New York, Los Angeles, Miami, Atlanta and Las Vegas. The brand also plans to extend the move to all of its North American stores through August.
This shift signals a great deal of validation for the crypto market considering the brand’s influence, a leader in luxury goods.
Crypto payments in physical stores will be made with a link sent to the customer’s email, this link contains a QR code that allows them to execute the payment from their wallets. Payments can be made in more than 10 currencies, including Bitcoin, Ethereum, Litecoin, Shiba Inu, Dogecoin, and five other stablecoins pegged to the US dollar.
Following the worldwide trend of testing blockchain technologies, Gucci has established itself as one of the first brands to adopt Web3 technologies, and accepting crypto payments demonstrates another step:
“Gucci is always looking to embrace new technologies that can provide a more sophisticated experience for our customers,” Marco Bizzarri, President and CEO of Gucci
The brand also announced, via its Discord server, that the owners of its NFT, SuperGucci and Gucci Grail projects, can have special access to the pre-release of a new Gucci collection, before it is released to the general public.
This reinforces that Gucci intends to combine its existing presence with its emerging efforts on Web3, offsetting its Web3 community with real-world consumer goods.
Past initiatives by the brand include the purchase of land in the Sandbox metaverse, and the Gucci Garden on Roblox.