US-Based Gucci Stores Will Accept 6 Cryptocurrencies as Payment

US-Based Gucci Stores Will Accept 6 Cryptocurrencies as Payment

Five stores of Gucci in the United States will start a pilot project later this month. These selected shops will honor six cryptocurrencies as payments.

The accepted crypto-assets include Bitcoin, Shiba Inu, Ethereum, Dogecoin, Bitcoin Cash, and Litecoin. We find this virtual currency news about luxury fashion brand Gucci interesting.

We think our readers, who are cryptocurrency supporters and Gucci consumers, will also be interested in learning about this report today. After all, this update exhibits the positive development involving the increasing number of companies welcoming cryptocurrency payments today.

Based on the Wednesday, May 11, 2022 report posted online by Hong Kong luxury magazine Prestige Online, Gucci will start accepting the crypto-assets as payment in its shops located in New York’s Wooster Street, Miami Design District, and Las Vegas’s The Shops at Crystals.

Additionally, customers can pay for the items they purchased using the six virtual currencies at Atlanta’s Phipps Plaza and Rodeo Drive in Los Angeles, California. Gucci’s acceptance of cryptocurrencies in five of its United States-based stores is the Italian high-end luxury fashion house’s move which is an extension of its Web3 and physical communities.

Customers will receive an e-mail containing a QR code that they can scan and pay via their crypto-asset wallet. Virtual currency payments are usually made using a near-field communication or NFC reader or a QR code via smartphone cryptocurrency applications.

Retailers can either keep the payment in the form of cryptocurrency or convert it to fiat currency. Gucci entered the metaverse earlier this 2021, and it had purchased a virtual land in the decentralized blockchain game The Sandbox.

This Italian high-end fashion brand founded in 1921 by Guccio Gucci in Florence, Tuscany, is presently erecting a virtual Gucci Vault for Gucci-themed non-fungible tokens or NFTs.

We are glad to learn that selected Gucci shops in the United States will commence accepting cryptocurrency payments this month. For our readers who need more details about Gucci, this Florence, Italy-based high-end fashion brand offers ready-to-wear clothing, handbags, fragrances, and accessories.

Additionally, footwear, home decoration, and makeup are among its product lines. Gucci became a world-famous label and an icon of the Italian Dolce Vita under the supervision of Aldo Gucci, Guccio Gucci’s son.

Kering is a French luxury group, and Gucci is its subsidiary. The latter will join the virtual currency bandwagon starting this month and will be among the world-famous brands that have entered the digital world.

They include Balenciaga, Dolce and Gabbana, Vans, Nike, and Adidas. Furthermore, Gucci will compete with cryptocurrency-native fashion labels like Blanksoles, Digitalax, DRESSX, and Red DAO.

We think Gucci’s decision to accept cryptocurrency payments is timely. After all, many brands worldwide are already honoring these payment types for their merchandise. Thus, we believe Gucci will continue to be a relevant and successful brand in the fashion world.