The luxury brand Gucci is set to roll out cryptocurrency payment options in various venues soon.
Italian fashion manufacturer Gucci The brand has revealed it will allow cryptocurrency payments, supporting a range including Ethereum, Bitcoin, Bitcoin Cash, Wrapped Bitcoin, Shiba Inu, Litecoin, and Dogecoin. Additionally, it's set to accept five stablecoins pegged to the US dollar.
By late May, shoppers can make crypto transactions in five selected Gucci stores. The first to embrace this initiative are the Rodeo Drive location in Los Angeles, The Shops at Crystals in Las Vegas, the Wooster Street location in New York, Miami's Design District, and Atlanta's Phipps Plaza.
As part of the process, Gucci customers will get an email containing a QR code that facilitates their crypto payments. payment in their crypto wallet Retailers will have the flexibility to convert cryptocurrencies into traditional money instantly, or they can hold on to Bitcoin payments. Notably, Gucci doesn't impose limitations on customer spending, and they also aim to accommodate returns for items purchased with cryptocurrency.
This announcement follows the brand's strategic recruitment of Web3 specialists, alongside their launch of an NFT. collaboration with SUPERPLASTIC and invested in The Sandbox digital real estate.
Other fashion labels are also beginning to explore this technology; for example, Off-White started accepting cryptocurrencies at their main stores in cities like Milan, London, and Paris in March 2022. Meanwhile, Philipp Plein is constructing a London store that will feature an NFT gallery, accept crypto payments, and provide buyers with the option to enhance their physical products with digital NFTs.
Photo by Pauline FIGUET on Unsplash
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