Iconic fashion brand Gucci has announced that it will begin accepting multiple cryptocurrencies, including Dogecoin (DOGE) and Shiba Inu (SHIB) in some of its US stores, starting later this month.
Gucci will accept Shiba Inu and DOGE as payment methods
According to Vogue Business, in-store payments are a QR that customers can scan via email with cryptocurrency wallets sent by Gucci. be done using the code. Stores will accept a variety of cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Shiba Inu (SHIB).
The first places to accept crypto will be Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta and Crystals in Las Vegas . As Cryptokoin.com reported, other top brands (like Off-White) have already started accepting cryptocurrencies. Offering in-store crypto payments was the final step in Gucci’s transition to Web3. Earlier this year, Gucci entered the metaverse by purchasing virtual land for an undisclosed amount on the decentralized blockchain game and metaverse The Sandbox. Apart from that, it is building a virtual “Gucci Vault” for Gucci-themed NFTs.
Clothing brands are rapidly adopting the web3 and metaverse space
Gucci is just one of the big names in fashion and apparel entering the Web3, seeking to lay claim to the digital world. Joining Gucci in this new reality are the clothing brands Dolce & Gabbana, Adidas, Nike, Vans and Balenciaga. These brands will also compete against local cryptocurrency-focused fashion houses such as Digitalax, Blanksoles, DRESSX and Red DAO, which are starting to build online communities around their brands.
To prepare for this new venture, Gucci said it will provide cryptocurrency and NFT education and training to its staff before the program begins. “Gucci is always trying to embrace new technologies where they can provide an enhanced experience for our customers,” Marco Bizzarri, president and CEO of Gucci, told Vogue Business.
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