Gucci, the high-end Italian fashion house, announced that it would begin taking cryptocurrency payments at five of its US stores by the end of the month, with ambitions to expand the service to all 111 North American locations.
Quick Things to Know About Gucci
- Gucci is an Italian fashion brand founded in 1921 by Guccio Gucci, making it one of the world’s oldest fashion firms.
- Gucci’s first store was established in the Italian city of Florence. It began as a tiny shop selling excellent leather goods to riders.
- Gucci has become a symbol of prosperity throughout time, not just as a high-end fashion label but also as a slang term. Various artists and rappers have used the word “doing well,” including Cardi B and Kanye West.
- Gucci is now a big designer brand with over 540 beautiful outlets worldwide.
Customers who have begun paying with cryptocurrency in-store at the pilot sites in New York, Los Angeles, Miami, Atlanta, and Las Vegas will get an email with a QR code that they may use to pay with their digital asset wallet. In preparation for the launch, employees have begun training and instruction on crypto, Non-Fungible Tokens (NFTs), and Web3.
According to Vogue Business, Gucci will accept 12 cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and five US dollar stablecoins.
Gucci’s move into the virtual world is not its first-ever move. Gucci bought LAND in The Sandbox in February (SAND). According to Gucci Vault, attendees may purchase and utilize fashion products in the Metaverse.
The Gucci Vault is a virtual concept store that represents “Gucci’s presence in the Metaverse,” with a handpicked selection of rare vintage Gucci pieces handpicked by its creative director. Gucci Vault also has a Discord, the Gucci Grail, and the SuperGucci NFT collections accessible on OpenSea.
