Gucci to start accepting cryptocurrency payments

The Italian fashion house Gucci will launch a pilot program to accept payments in digital assets in five stores in the United States in May. Vogue Business reports.

In the summer, the experiment will be extended to the company’s own boutiques in North America. According to Gucci president and CEO Marco Bizzarri, the initiative will enhance the customer experience.

Purchases can be paid for via a QR code that will be sent to the customer’s email address.

Payments will support Bitcoin, Ethereum, Wrapped Bitcoin, Bitcoin Cash, Litecoin, Shiba Inu, Dogecoin, and five US dollar-pegged stablecoins.

In the event of a return, Gucci will refund the funds in the same cryptocurrency used for the purchase.

The parent company Kering, in collaboration with creative agency Al Dente, developed a game for the holding group’s employees that teaches Web 3.0. Earlier on Discord, Gucci representatives announced access to pre-orders of the collection for NFT holders from the SuperGucci and Gucci Grail series.

Payment with cryptocurrencies is also being tested by brands Off-White and Phillip Plein. In one of the latter’s London stores, an NFT gallery will appear with the option to upgrade the token used by the customer in Decentraland.

As reported in April 2022, Gucci Gucci NFT collections were to be released on the Neuno marketplace.

In May 2021, the company sold non-fungible tokens at Christie’s auction.

Gucci previously acquired a virtual plot of land in The Sandbox metaverse project.

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