Gucci will accept crypto payments before the end of May

By Team Korean Talks 2 years ago

The Italian fashion label Gucci has announced that it will accept cryptocurrencies by the end of the month.

111 Stores, More than 12 Cryptocurrencies

The fashion label is launching in five of its stores in the USA. The first Gucci items can be purchased at the pilot sites in New York, Los Angeles, Miami, Atlanta and Las Vegas. The brand then plans to expand to all 111 stores in North America.

It is good news for the crypto market that payment options are increasingly being adopted. Vogue reports that the store will accept more than 12 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, Dogecoin and five stablecoins pegged to the USD. But how does it work?

Customers who want to pay with crypto in the store will receive an email with a QR code. This allows you to pay via your crypto wallet. According to Vogue, in preparation for the launch, employees will even receive trainings and trainings on crypto, NFTs and Web3.

Gucci in the Metaverse

This is also necessary, because Gucci is very busy with these developments. The fashion label launched two NFT collections in 2022. In addition, Gucci has also expanded into Web3 by buying land in the virtual world of The Sandbox. They do not hesitate and fully enter this new world of possibilities.

“Gucci is always eager to take advantage of new technologies if they can provide an improved experience for our customers”, said CEO Marco Bizzarri in a statement. “Now that we are able to integrate cryptocurrencies into our payment system, this is a natural development for those customers who would like to have this option available.“

So we will see a lot more from this fashion label in the near future. At the moment, nothing is known about a possible expansion to Europe, but with the speed with which they are adopting these technologies, it should not take long.