The fact that renowned international clothing and fashion brands are now accepting digital currencies as payment mode and participating in blockchain technology, NFTs, and Metaverse is proof enough of the massive growth of digital currencies.
Gucci, the international fashion brand, recently announced its plan in Web 3.0 to accept crypto payments in selected US stores by the end of this month. The high-end luxury fashion brand will also extend this service to its other stores in North America by this summer.
What to expect?
According to the sources, in-store payment will be accepted as crypto, starting with Bitcoin, Shib, Dogecoin and more, using a link that will be sent to customers using email. The customer must scan the QR code using their digital wallets to make the purchase.
As per the news, the first Gucci stores to accept crypto payments 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.
Vogue, the American fashion and lifestyle magazine, also mentioned,
“Gucci will accept payments in more than 10 currencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, and five stablecoins pegged to the US dollar. It will also accept Dogecoin, a “meme” cryptocurrency originally created as a joke.“
Marco Bizzari, the President and CEO of Gucci, also released a statement,
“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.”
Gucci is one of the early adopters of crypto and Web 3.0 to target Gen Z. The brand has been interacting with the metaverse for the last year and also recently collaborated with Superplastic to release a collection of 500 NFTs to take its crypto approach a notch further.