Pay for your next Gucci bag with Bitcoin, Ethereum, or even Dogecoin
If you needed more proof that crypto is here to stay, consider this: Gucci will soon start accepting cryptocurrency payments.
The Italian fashion brand has announced its plans to allow digitally-savvy clients to pay for its luxury goods—which encompass ready-to-wear, handbags, sneakers and even beauty products—with any one of over 10 cryptocurrencies that it has approved.
On the list are major cryptocurrencies like Bitcoin, Ethereum and Dogecoin, emerging ones like Wrapped Bitcoin, Litecoin, Shiba Inu, as well as stablecoins that are tied to the US dollar.
Read more: A Beginner's Guide To Cryptocurrency: What Is Shiba Inu Coin, Dogecoin, And More
Gucci will roll out its new payment program later this May, starting with its stores in Miami, Los Angeles, New York, Atlanta and Las Vegas. While its crypto payment option is currently limited to the US, we can expect Gucci to extend it to Asia pretty soon. After all, the region is one of the biggest and most active markets in the global cryptocurrency economy.
Gucci calls the decision “the next phase of the company’s Web 3.0 journey”, which has so far included the release of virtual sneakers through its mobile app, the launch of digital fashion collections through gaming platforms like Roblox and Tennis Clash, and the sale of non-fungible tokens (NFTs) made in collaboration with the likes of Superplastic. It has also purchased digital real estate on The Sandbox metaverse.
Read more: Tatler Teams Up With The Sandbox to Launch New Luxury Experiences in the Metaverse
Gucci joins a growing list of other fashion brands including Off-White and Charles & Keith that have jumped on the crypto bandwagon to accept payments through virtual currencies.
It’s a decision that makes sense for Gucci, which has already seen plenty of buzz from its clients for its metaverse-related projects. Now, fans of the brand can use their digital assets to flaunt their love for Gucci in real life—if doing so online wasn’t already enough.