By Nathan Ferguson
Gucci still shows interest in Web3 as it plans to introduce crypto payments in United States stores as a pilot program before expanding to all stores in North America.
- Gucci reveals plans to start allowing crypto transactions in the US later this month (announcement on Wednesday).
- The fashion brand has been a pioneer in the virtual and digital asset industry.
- Five stores will begin accepting over ten cryptos, including SHIB and DOGE.
The fashion industry has advocated for virtual and digital assets. Fashion brands continued to jump into the web3 craze, with some recognized names applying for Metaverse-associated trademarks. As most fashion houses try to catch up, Gucci pioneered the web3. Moreover, updates about its accepting crypto transactions match its position in Web3.
Gucci to Introduce Crypto Payments Pilot Program in United States Stores
News about Gucci’s pilot program to introduce crypto payments emerged on Wednesday. Vogue Business revealed that Gucci would start a pilot program towards May-end. Stores will send QR code links to customers through email to complete transactions from cryptocurrency wallets.
Gucci will accept crypto transfers in over ten cryptocurrencies, including BTC, BCH, DOGE, ETH, LTC, WBTC, SHIB, and five USD tied stablecoins. Reports show five stores, Shops at Crystals in Las Vegas, Phipps Plaza in Atlanta, Miami Design District in Miami, Los Angeles’ Rodeo Drive, and Wooster Street in New York, will participate in the pilot program.
Gucci plans to stretch the pilot schemes to all stores in North America by summer. However, this is not the initial foray by Gucci as far as the virtual space is concerned. The fashion brand bought Land in Sandbox metaverse in February. Gucci Vault stated that attendees could purchase and utilize fashion products within the metaverse. Also, the fashion house introduced SuperGucci NFTs collections and Discord and Gucci grail, available on the OpenSea marketplace.
However, the web3 relationship started much earlier. Roblox and Gucci hosted Gucci Garden, a digital version of the installation in Italy, in 2021. Gucci Garden comprised themed rooms in memorial of Gucci’s centenary. Meanwhile, the increased web3 adoption continues to support cryptocurrencies, including SAND.
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