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 To Accept Cryptocurrency Payments In Some Of Its Stores
Gucci is offering Bitcoin, Dogecoin, Shiba in select locations in North America, according to Vogue Business. It will start accepting Inu and some cryptocurrencies. 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 Cryptocurrencies
In August last year, German fashion house Philipp Plein started accepting cryptocurrencies after partnering with crypto payment provider Coinfy.
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.
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