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Gucci accepts Bitcoin and other crypto in the US

05/05/2022
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Italian luxury giant Gucci has announced that it will accept as many as 10 cryptocurrencies as a mode of payment, including Bitcoin, in some US shops.

Gucci accepts Bitcoin and 10 other crypto

bitcoin crypto
Gucci is ready to accept 10 cryptocurrencies in some US stores

According to a report by Vogue Business, starting later this month, US customers of Italian luxury giant Gucci will be able to pay for handbags and other products using cryptocurrencies, including Bitcoin. 

Specifically, crypto payments in shops will be made with a link emailed to the customer, containing a QR code that will allow them to make the payment from their crypto-wallet. 

The first Gucci shops that will accept 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. 

Not only that, the cryptocurrencies accepted by the Italian luxury giant are: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB) and five stablecoins tied to the US dollar. 

The idea is that this could be seen as a pilot project for Gucci, to be extended next summer to all its direct shops in North America.

Gucci, the fashion company experimenting with Blockchain

The Italian giant is a practical example of how fashion is increasingly testing the world of blockchain. 

In fact, there are other fashion companies such as Off-White, which recently announced that it is accepting payments in Bitcoin and other cryptocurrencies in its flagship stores in London, Paris and Milan. Its choice of cryptocurrencies is diverse and involves BTC, Ethereum, Binance Coin, Ripple, Tether and USD Coin. 

But the blockchain has also become much more than just cryptocurrencies as a method of payment. And indeed, luxury companies are also testing NFT art collections and digital cufflinks that store product information. 

In this regard, Gucci also recently shared that owners of two of its NFT projects – SuperGucci and Gucci Grail – will have special access to pre-order a Gucci collection before it is released to the public. Here’s the tweet:

“For those who believed in Gucci’s foray into the world of Web3 via Vault, an exclusive opportunity awaits. Holders of either a #SUPERGUCCI or #10KTFGucciGrail NFT can now register to pre-access a special product drop. Discover more on Discord.”

Luxury brands and the metaverse

The blockchain also opens the door to some metaverse projects that are literally taking over big global brands. 

Here too, Gucci bought virtual land in The Sandbox last February, developing a virtual retail experience that mirrors its Vault e-store. 

“Believe in the power of imagination, @gucci #GucciVault.”



Source: https://en.cryptonomist.ch/2022/05/05/gucci-accepts-bitcoin-crypto-us/