The famous Italian brand Gucci recently announced that they will begin accepting cryptocurrency payments later this month in some pilot stores in the United States. Gucci will continue to extend this service to 111 stores across North America in the near future.
The 12 cryptocurrencies accepted by Gucci include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE) and 5 other U.S. dollar-pegged stablecoins. Customers can currently buy Gucci’s high-end handbags and products with cryptocurrencies at pilot stores in New York, Los Angeles, Miami, Atlanta, and Las Vegas. Customers will receive an email with a QR code to pay via their digital asset wallet. Gucci employees have started to undertake training on crypto, NFT, and Web3 in preparation for the service’s launch.
The first NFT of Gucci was a four-minute film titled Aria which was inspired by its clothing collection of the same name. This collection was then sold for $25,000 in June 2021. Gucci also got involved further into Web3 with the purchase of virtual land in The Sandbox to develop a virtual retail experience for customers.
With the explosion of cryptocurrencies, more and more companies are starting to accept cryptocurrencies. Fashion brand Off-White has also begun accepting cryptocurrency in its London, Paris and Milan flagship stores, according to Vogue Business report.
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