Gucci to accept crypto payments at US stores in digital asset push

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Gucci is doubling down on its support for crypto with plans to start accepting digital asset payments across US stores in the coming months.

Customers will be able to make in-store crypto payments by scanning a QR code which will allow them to pay directly from their crypto wallet, Vogue Business first reported.

Gucci will accept payments in more than 10 currencies including Bitcoin, Ethereum, Litecoin and five US stablecoins. The meme currencies Dogecoin and Shiba Inu will also be accepted.

Gucci has established itself as a frontrunner in the crypto space. The brand was the first luxury fashion house to release an NFT and has already made the jump into virtual reality, snapping up a plot of digital real estate in metaverse building platform The Sandbox.

Gucci has also launched a digital platform called Gucci Vault, described by the brand as an experimental space envisioned by creative director Alessandro Michele. The Vault’s official discord server has over 60,000 members who have been promised access to “multiple NFT drops, rare vintage finds, noteworthy designer selections and discord exclusives.”

The company recently revealed that owners of items from two of its NFT projects, SuperGucci and Gucci Grail, would be given special access to pre-order a Gucci collection before its general release.

Brands including Adidas and Nike have also signalled their support for the metaverse this year amid an explosion of interest in the crypto space.

Business Matters Magazine

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