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Luxury fashion house Gucci will begin accepting cryptocurrency in some of its select US locations later this month. The pilot will launch in limited stores with eventual plans to expand to other North American stores this summer.
Gucci to Accept Bitcoin in Some Stores
According to Vogue Business, in-store crypto payments will be made using a QR code that customers can scan with their crypto wallet, sent by Gucci via email. https://twitter.com/voguebusiness/status/1521942653448998913 Accepted cryptocurrencies will include Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu Coin (SHIB), Wrapped Bitcoin (WBTC), and five USD pegged stablecoins. The first locations to accept crypto 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.
Gucci is Moving Into the Metaverse
This is not the first time Gucci has forayed into the digital asset space. In February, the fashion powerhouse purchased LAND in The Sandbox (SAND) for an undisclosed amount and is building a virtual "Gucci Vault" for Gucci-themed NFTs. The brand also has a specific team dedicated to Web3-focused initiatives and had 19 million visitors on Gucci Garden, its Roblox game which is a virtual version of a real-world installation in Italy. Earlier last year, the luxury brand garnered mainstream attention when a virtual purse on Roblox’s marketplace sold for over $4,000, exceeding the price of its real-world equivalent.