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Bitcoin To Join Gucci Gang: Luxury Brand To Accept BTC Payments

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  • Gucci, the iconic fashion brand will initiate accepting the crowned crypto asset Bitcoin in some of its US-based stores.
  • Apart from Gucci, other brands have already initiated accepting Bitcoin as payments, Off-White is among the recent entries in this initiative.
  • To brace themselves for this latest venture, Gucci states that it will offer NFT and crypto training and education to their staff before release of the program.

Pay Bitcoin To Sport Gucci Accessories

Iconic fashion brand Gucci will initiate accepting crypto assets in some of its United States locations later this month, with strategies to roll out the program to rest of North American storefronts this summer.

As per Vogue Business, in-store payments will be done utilizing a QR code that clients can scan through their cryptocurrency wallet, sent by Gucci through email. The stores will accept virtual currencies such as Bitcoin, Shiba Inu, Dogecoin, Litecoin, Ethereum and Bitcoin Cash.

The initial locations to accept crypto are The Shops at Crystals in LV, Phipps Plaza in Atlanta, Miami Design District, Rodeo Drive in LA, and Wooster Street in New York. Other top-tiered brands have already started accepting Bitcoin and Off-White is among the latest entries to do so. 

Gucci Steps Toward Web3

Providing in-store cryptocurrency payments is the newest in Gucci’s step forward into Web3. Earlier this year, Gucci forayed into metaverse by acquiring digital land in The Sandbox, a decentralized blockchain game for an unrevealed amount; It is developing a digital “Gucci Vault” for Gucci-themed NFTs.

Gucci is among the greatest fashion and apparel foraying into the Web3 seeking to stake a claim in virtual world. Joining Gucci in this latest reality are clothing lines Balenciaga, Vans, Nike, Adidas, Dolce and Gabbana.

These brands will also be facing off the crypto indigenous houses such as Red DAO, DRESSX, Blanksoles, and Digitalax, which have a head start in developing digital communities around their brands.

To prepare for this latest venture, Gucci states that it will offer NFT and crypto education as well as training to its staff before initiating the program.

President and CEO of Gucci, Marco Bizzarri stated to Vogue Business that, Gucci is always seeking latest techs where they can offer their clients something robust of an experience.

Furthermore, she stated that, Now that they have integrated digital assets within their payment network, it is a natural evolution for the clients that desire to have this alternative available to them.

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