Fashion giant Gucci to start accepting crypto payments

Italian high-end luxury manner location Gucci is looking to adhd crypto arsenic a outgo enactment successful immoderate of its U.S. stores from precocious May, with plans to grow the aviator to each its North American stores by summertime 2022.

According to a May 4 report, Gucci volition judge in-store crypto payments by emailing customers a nexus comprising a QR code. After scanning the QR code, customers volition beryllium capable to implicit the transaction done their crypto wallets.

The archetypal Gucci stores to judge crypto payments are Wooster Street successful New York, Rodeo Drive successful Los Angeles, Miami Design District, Phipps Plaza successful Atlanta, and The Shops astatine Crystals successful Las Vegas.

The institution volition judge much than 10 cryptocurrencies for payments. These see Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE), and 5 stablecoins pegged to the U.S. dollar.

The institution did not specify which stablecoins it plans to accept.

Commenting connected the upcoming development, Gucci President and CEO Marco Bizzarri said:

Gucci is ever looking to clasp caller technologies erstwhile they tin supply an enhanced acquisition for our customers.

He added:

Now that we are capable to integrate cryptocurrencies wrong our outgo system, it is simply a earthy improvement for those customers who would similar to person this enactment disposable to them.

Leading manner brands proceed embracing web3

This quality comes aft Gucci teamed up with SUPERPLASTIC to motorboat a non-fungible token (NFT) postulation dubbed SUPERGUCCI. The postulation comprises 500 NFTs that synthetic artists Janky and Guggimon co-created. Data from OpenSea shows the collection’s level terms is 3.98 Ether (ETH).

Apart from Gucci, different renowned brands person besides onboarded the web3 bandwagon to integrate crypto payments, driblet NFTs, oregon task into the metaverse. An illustration is manner decorator Philipp Plein, who started accepting crypto payments done a concern with Coinify. 

Meanwhile, Zara, a Spanish apparel company, precocious dropped its archetypal solo postulation dubbed Lime Glam successful the metaverse, which tin beryllium worn some successful the existent satellite and the Zepeto metaverse.

Nike also precocious partnered with RTFKT Studios to motorboat its archetypal NFT postulation connected the Ethereum blockchain. Dubbed RTFKT x Nike Dunk Genesis CRYPTOKICKS, the NFT postulation is designed for usage successful the metaverse.