Gucci, the high-end fashion brand, will accept cryptocurrency at several of its stores starting this month. This includes bitcoin, ether and dogecoin. All of the company’s directly-operated stores across North America will accept cryptocurrency by summer.
Gucci to Start Accepting Crypto Payments
Vogue Business has reported that Gucci, an Italian high-end fashion brand known for luxury and haute design, will begin accepting cryptocurrency payments in five of its stores this month.
The shops are found on Wooster Street in New York City, Los Angeles and Miami.
Gucci will accept Bitcoin Cash, bitcoin cash (ethereum), wrapped bitcoins, ethereum and dogecoin. There are also five stablecoins that can be pegged to U.S. dollars, according to the publication.
This is the list of coins supported by Bitpay, a popular cryptocurrency payment provider. Bitpay also supports DAI stablecoins, USDC and USDP as well as GUSD, USDC and USDP.
Marco Bizzarri, the president and CEO of Gucci, commented: “Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers.” He added:
It is now possible to incorporate cryptocurrencies into our payment system. This makes it an easy evolution for customers who want this option.
In addition, the magazine stated that all North American fashion stores would be allowed to accept cryptocurrency payments.
Gucci has increased its efforts to promote Web3 as well as non-fungible tokens (NFT). Recently, Gucci established a Web3 team and published a few NFTs.
It is also expanding its presence into the metaverse. The Sandbox is where it will be developing digital real property. The two companies “will collaborate to create an interactive fashion experience based on Vault, Gucci’s conceptual space and meeting place inspired by childhood memories of the search for beauty,” they previously announced.
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