Iconic fashion brand Gucci will begin accepting Bitcoin, Ethereum, Doge and other cryptocurrencies at some of its stores in the U.S. The program kicks off later this month and will roll out to other North American stores this summer.
Payments at Gucci stores will be made using a QR code that will be sent to customers while checking out. Customers can scan it with their crypto wallet and pay for the purchase. Stores will accept various digital currencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.
The first locations to start accepting cryptocurrency are Worcester Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and Crystal Stores in Las Vegas.
Earlier this year, Gucci entered the metaverse by purchasing virtual land in decentralized blockchain game The Sandbox for an undisclosed amount. There, the brand is building a virtual “Gucci Vault” for NFTs in the style of Gucci. To prepare for this new venture, the brand says it will provide education and training to its employees about cryptocurrencies and NFTs before launching the program.
“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” Marco Bizzarri, Gucci's president and CEO, tells Vogue Business. “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.”
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.