Gucci is now accepting cryptocurrency payments for its products at select U.S stores.
The Italian high-end luxury fashion house said it would now accept payments in cryptocurrency begin later this month.
The move comes as the company continues to explore Web 3.
It said it would start by accepting 12 cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum and Wrapped Bitcoin.
Others are Litecoin, Dogecoin Shiba Inu, as well as five stablecoins pegged to the US Dollar.
The select stores:
Gucci said it will accept cryptocurrency in five stores in the US later this month.
It said the first stores that will incorporate the new payment mode are – Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.
In a statement to Vogues, Marco Bizzarri, Gucci’s president and CEO, said thus:
“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers.
“Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.”
NFTs, Metaverse, and More:
Gucci’s tryst with Web 3 started with a 4-minute film titled Aria that sold for $25,000 last summer in an online auction hosted by a British auction house, Christie’s. The retailer also came up with two NFT collections – SuperGucci and Gucci Grail this year.
Further expanding into Web 3, Gucci recently purchased virtual land in Animoca Brands’ decentralized blockchain game The Sandbox for an undisclosed amount in February. It was developing a virtual concept store, dubbed “Gucci Vault,” for Gucci-themed NFTs.