Gucci Furthers Its Stake in Blockchain
Gucci strengthens its Web3 ecosystem by accepting cryptocurrencies in its US stores starting this month.
The post Gucci Furthers Its Stake in Blockchain appeared first on LUXUO.
Image: Gucci
Italian luxury fashion house Gucci has announced that it will expand its mode of payment to include more than ten cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Shiba Inu and the five stablecoins pegged to the US dollar. This move marked the first endorsement by a major player in the fashion industry.
In a report by Vogue Business, Gucci will pilot this new payment method in some of its stores in the US, mainly in cities like New York, Los Angeles, Miami, Las Vegas and Atlanta. The brand aims to roll this out to its directly operated stores in the US by the end of this summer.Â
Gucci and The Sandbox’s interactive fashion experience. Image: Max Siedentopf/Gucci
READ MORE: Kering Appoints Google Executive Amid Metaverse Push
Offering cryptocurrencies as a payment option is nothing new in the fashion industry. Other brands like Philipp Plein and Off-White have already started accepting it as early as 2021. But what makes Gucci different from its competitors is its vision of building a whole ecosystem using Web3.
The brand?s first foray into using blockchain can be traced back to the release of its first NFT project inspired by its ?Gucci Aria? collection. Then on, Gucci ventured further into the metaverse space by purchasing virtual land in the dece...
The post Gucci Furthers Its Stake in Blockchain appeared first on LUXUO.
Image: Gucci
Italian luxury fashion house Gucci has announced that it will expand its mode of payment to include more than ten cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Shiba Inu and the five stablecoins pegged to the US dollar. This move marked the first endorsement by a major player in the fashion industry.
In a report by Vogue Business, Gucci will pilot this new payment method in some of its stores in the US, mainly in cities like New York, Los Angeles, Miami, Las Vegas and Atlanta. The brand aims to roll this out to its directly operated stores in the US by the end of this summer.Â
Gucci and The Sandbox’s interactive fashion experience. Image: Max Siedentopf/Gucci
READ MORE: Kering Appoints Google Executive Amid Metaverse Push
Offering cryptocurrencies as a payment option is nothing new in the fashion industry. Other brands like Philipp Plein and Off-White have already started accepting it as early as 2021. But what makes Gucci different from its competitors is its vision of building a whole ecosystem using Web3.
The brand?s first foray into using blockchain can be traced back to the release of its first NFT project inspired by its ?Gucci Aria? collection. Then on, Gucci ventured further into the metaverse space by purchasing virtual land in the dece...
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