Italian high-end luxury fashion house Gucci is ready later this month cryptocurrencies accepted in five stores in the US. The move comes as the company continues to explore Web 3.
Gucci taps into crypto
According to a report by Vogue, Gucci also plans to roll out the pilot to all of its North American stores that the leading luxury brand operates directly this summer. To start, Gucci accepts 12 cryptocurrencies including Bitcoin, bitcoin cashEthereum Wrapped Bitcoin, Litecoin, Dogecoin Shiba Inu and five stablecoins pegged to the US dollar.
The first stores to integrate the new payment mode 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.
The report also mentioned that in-store crypto payments are made with a link that is emailed to the customer. It will contain a QR code that will allow them to make the payment from their cryptoWallet to execute. The company will convert the digital asset into fiat currency, the report said.
The latest move joins Gucci with other high-end fashion labels, including Off-White, which has started accepting six cryptocurrencies at its flagship stores in Paris, Milan and London. Earlier this week, American luxury fitness company Equinox Group announced it would accept crypto payments for its New York City-based clubs
NFTsMetaverse and more
Gucci’s Web 3 tryst began with a 4-minute film entitled Aria, which fetched $25,000 at an online auction hosted by UK auction house Christie’s last summer. The retailer also presented two NFT collections this year – SuperGucci and Gucci Grail.
Gucci continued to expand in Web 3 and recently bought virtual land in Animoca Brands decentralized in February Blockchain-Game The sandbox for an undisclosed amount. It developed a virtual concept store called “Gucci Vault” for Gucci-themed NFTs.
In a statement to Vogues, Marco Bizzarri, President and CEO of Gucci said:
“Gucci is always striving to embrace new technologies where they can offer our customers an enhanced experience. Now that we are able to integrate cryptocurrencies into our payment system, it is a natural progression for those customers who would like to have this option available to them.”
Featured image courtesy of GMC Anantnag
Source: Crypto News Deutsch