Gucci is now accepting cryptocurrency in some of its US stores

Gucci accepts cryptocurrency as a method of payment

sometime after entering In the metaverse of the Sandbox (SAND)Gucci continues to show interest in Web 3.0 and cryptocurrency.

In fact, from the end of May, the brand will accept Over a dozen cryptocurrencies in 5 of its stores in the USin particular located on Wooster Street, in the heart of New York, on Rodeo Drive in Los Angeles or in the Miami Design District.

trade mark Reference cryptocurrencies will be accepted Like Bitcoin (BTC), Ether (ETH), and enveloped Bitcoin (wBTC), but also 5 stablecoins Backed by the dollar as well as Dogecoin (DOGE) and Shiba Inu (SHIB).

Regarding payments, when a customer makes a purchase in the store, they will receive An email with a QR code that allows it to validate the transaction Straight from their own digital wallet.

Then free under the sign Holding or transferring assets in cryptocurrency In fiat currency, such as US dollars for these stores. According to the press release, Gucci wants to eventually develop this new payment method. in all its stores.

Gucci is not the first luxury brand to incorporate cryptocurrency payments into its organizations. Indeed, Off white, Virgil Abloh brandalready accepts this type of payment at its eponymous stores in Paris, London and Milan.

We can also cite Philip Plein brandWorld Health Organization, In addition to collecting more than 150 bitcoins in reserve, will open an exhibition of non-fungible tokens (NFTs) at one of its stores in London. Either way, these are high-end street fashion brands that target a relatively small audience.

👉 Find our guide to buying Bitcoin (BTC)

The luxury allure of cryptocurrency

Gucci’s interest in Web 3.0 is not new, as its interactive experience has already demonstrated. Gucci Garden “Who knew how to collect At least 19 million people.

The brand has also developed exclusive skins for video games such as Animal Crossing or Pokemon Go, similar to the popular British brand. Burberry honor kings game.

for the purpose of Making her teams aware of this new worldKering, the parent company of Gucci, recently Launch an indoor game In partnership with Al Dente Agency. According to a company spokesperson, The number of employees who showed interest was much more than expected.

according to Marco BizzarriCEO of Gucci, these are all new features that are improving their customers’ experience:

“Now that we are able to integrate cryptocurrencies into our payment system, this is a natural progression for customers who want this option.”

We also remember a file LVMH Collaboration with Microsoft and Consensys to develop a platform for Product traceability thanks to blockchain technologya project dating back to 2019.

at recent days, Hermès, one of the jewels of French luxury, He declared that the metaverse was a good communication tool. its chief executive, Axel Dumasdeclared on that occasion that ” Curious and interested by these virtual worlds.

👉 Going Ahead: Tesla believes cryptocurrency is an alternative to cash

Source: Vogue Business

Newsletter 🍞

Get your cryptocurrency news feed every Sunday 👌 and that’s it.

What you need to know about affiliate links. This page displays the assets, products, or services related to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to provide you with original and useful content. There is no effect on you and you can even get rewarded by using our links.

Investing in cryptocurrency is risky. Cryptoast is not responsible for the quality of the products or services displayed on this page and cannot be held responsible, directly or indirectly, for any damage or loss resulting from the use of a good or service highlighted in this article. Investments related to crypto assets are inherently risky, and readers should do their own research before taking any action and invest only within their financial capabilities. This article does not constitute investment advice.

About the author: Maximilian Pro

Twitter- soothsayerdata

Passionate about the world of decentralized finance and the novelties that Web 3.0 has brought, I write articles for Cryptoast to help make blockchain more accessible to everyone. I am convinced that cryptocurrency will change the future very soon.
All articles by Maximilien Prué.

Leave a Comment