Gucci Now Accepts Crypto as Payment

Gucci Now Accepts Crypto as Payment
  • Gucci now accepts crypto as payment method in selected stores.
  • Customers can pay using Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.
  • Company will provide crypto and NFT education and training to its staff before launching programs.

Gucci announced that they will accept cryptocurrency in selected stores around its US locations. The Italian high-end luxury fashion brand also plans to launch the program in other North American stores this summer.

According to Vogue Business, in-store payments can be done through a link sent to customers via email. The link includes a QR code that customers can scan using their crypto wallet.

The stores started to accept numerous cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.

Gucci’s President and CEO Marco Bizzarri told Vogue Business that:

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. 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.”

The stores that accept crypto are located in several places including Rodeo Drive in Los Angeles, Wooster Street in New York, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas. 

Earlier this year, the luxury brand entered the metaverse by purchasing an undisclosed amount of virtual land in the decentralized blockchain game The Sandbox. The company said they’re developing a virtual “Gucci Vault” for Gucci-themed NFTs. Accepting in-store crypto payments is the latest move of Gucci to promote its Web3 exposure.

In related news, a high-end brand Off-White already added crypto as payment across its stores.

Gucci is the latest fashion giant to enter Web3 seeking to lay claim in the digital world. To prepare for its new journey, Gucci vows to provide crypto and NFT literacy and training to its staff before launching programs.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.