The world-renowned luxury clothing brand Gucci, based in Italy, had worked in the field of NFT and metaverse and bought land on the popular metaverse platform The Sandbox. It has been reported that the luxury brand will start accepting cryptocurrency payments this time at five stores in the US.
Gucci Will Accept Cryptocurrency Payments in Some Stores
According to Vogue Business, Gucci will begin accepting Bitcoin, Dogecoin, Shiba Inu and some cryptocurrencies at select locations in North America. Customers will be able to make cryptocurrency payments with the help of a QR code.
The pilot, which will start at five stores later this month, is a significant step forward by Gucci towards the Web3 and cryptocurrency ecosystem.
To prepare for this new venture, Gucci said it will provide cryptocurrency and NFT education and training to its employees ahead of the program’s launch.
Gucci’s president and CEO, Marco Bizzarri, said Gucci is “always” open to adopting new technologies.
Famous Brands Start Embracing Cryptocurrency
In August last year, German fashion house Philipp Plein partnered with crypto payments provider Coinfy to launch cryptocurrencies. began to accept units.
In February, Italy-based fashion designer John Richmond collaborated with Shiba Inu.
Gucci launched its first NFT collection, inspired by the Aria collection, last May, which was purchased at Christie’s for $25,000.
In January, Gucci announced a partnership with digital character brand Superplastic to launch its own NFT collection.
