Gucci accepts 12 cryptocurrencies in its stores.
Italian fashion brand Gucci has started accepting cryptocurrency payments at its five stores in the United States.
Gucci will accept 12 cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (wBTC), Litecoin (LTC), Shiba Inu (SHIB), Dogecoin (DOGE).
Customers who pay with crypto at stores in New York, Los Angeles, Miami, Atlanta and Las Vegas will receive an email with a QR code to pay via their digital asset wallet.
Gucci is on a Web3 adoption spree with two NFT collections launching in 2022. “SUPERGUCCI” collection with toy brand SUPERPLASTIC in February and “Gucci Grail” collection in March.
The company’s first NFT was a four-minute film called Aria, inspired by its clothing collection, which sold for $25,000 at an online auction held by Christie’s in 2021.
Gucci purchased virtual land in The Sandbox in February to improve the virtual retail experience.
Crypto is lux
High-end brands are entering the crypto and Web3 space. In March, the Off-white fashion brand began accepting crypto payments at its stores in Paris, Milan and London.
Off-white is majority owned by LVMH, which has launched NFTs under the Hennessy, Bulgari and Louis Vuitton brands.
LVMH’s luxury watch brand Hublot has released a limited edition collection that can only be purchased using Bitcoin. The brand partnered with cold wallet provider Ledger to launch a limited edition watch and Ledger Nano X in February.
Watch brands Franck Muller and Norgain, fashion brand Phillipp Plein accept cryptocurrencies. Some car brands accept cryptocurrencies for their high-end vehicles.
Luxury fitness company Equinox Group has started accepting crypto payments for its New York City-based clubs.