Later this month, Gucci will begin taking cryptocurrency payments in certain stores across the United States. This is just one of the brand’s numerous recent forays into crypto, which is supported by a specialized digital experiences team.
Gucci, the high-end fashion company, will begin taking cryptocurrency payments in certain locations as part of its ongoing crypto tests.
According to Vogue Business, the pilot will begin in select US stores at the end of this month, with plans to grow to all of the company’s North American stores this summer.
Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Dogecoin, Shiba Inu, and five stablecoins tied to the US dollar will be accepted. Gucci’s crypto payments will be made via a QR code that will be emailed to consumers and will allow them to link their wallets and pay.
Gucci has already made considerable advances into the cryptocurrency and blockchain gaming market. Gucci Garden, the firm’s Roblox game, received 19 million visits, and the corporation has a dedicated team dedicated to Web3-focused efforts.
In games like Animal Crossing and Pokemon Go, the business has also created “skins” that change the appearance of an avatar.
Gucci’s chief marketing officer Robert Triefus said:
“There are more and more ‘second worlds’ where you can express yourself [but] there is probably an underestimation of the value being attached to individuals who want to express themselves in a virtual world with a virtual product, [through] a virtual persona,”
The company has also purchased digital real estate on The Sandbox, a blockchain-backed virtual real-estate marketplace. Gucci gained notice online this summer when a virtual purse on Roblox’s marketplace sold for more than $4,000, more than the real-world equivalent.
The move comes as a growing number of high-end businesses and brands begin to accept cryptocurrency payments. Equinox, a luxury fitness and health club in New York City, said earlier this week that it will accept cryptocurrencies in its clubs. Off-White began accepting cryptocurrency payments in Paris, London, and Milan a few months ago.
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