Gucci, an iconic fashion brand, has taken a step into digital currency by promising its customers to start accepting cryptocurrency in its U.S stores by end month. Gucci also has plans to spread this program to other North American stores this summer.
Gucci will make in-store payments using a QR code so that customers can scan it with their crypto wallet. According to Vogue Business, from an email sent to them, Gucci will accept most digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.
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 are the first locations to accept crypto. In addition, other high-end brands have already begun using cryptocurrency.
Gucci’s venture into Digitalism
Gucci is looking to stake a claim in the digital world since it is a big fashion and apparel brand entering web3. Clothing lines like Dolce & Gabbana, Adidas, Nike, Vans, and Balenciaga have joined Gucci in the venture of this new reality.
These brands will be competing against crypto-native houses, which have a head start in developing online communities around their brands. These houses include Digitalax, Blanksoles, DRESSX, and Red DAO.
Offering in-store crypto payment is Gucci’s latest step into web3. Gucci entered the metaverse by purchasing virtual land in the decentralized blockchain game, the Sandbox, for an amount yet to be disclosed. It is building a virtual “Gucci Vault” for Gucci-themed NTFs.
For this venture to go through, Gucci says it will provide crypto-currency and NFT education and training to its staff and customers before the beginning of the program.
Marco Bizzarri, the CEO of Gucci, told Vogue Business that Gucci is always looking forward to embracing new technologies so that they can provide an enhanced experience for their customers.
He also said that their ability to integrate cryptocurrencies within their payment system is a natural evolution for those customers who would like to have this service available to them.
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