Gucci Will Accept Cryptocurrencies in all U.S. Stores
Blockchain technology has been used by luxury brands in a variety of ways. This is mainly because they can issue authentic certificates for high-end products that cannot be falsified and these databases are able to store data. Gucci also recently released its own non-fungible tokens. Those who invest in these NFTs have had early access to the upcoming collections.
Vogue Business reports that customers who wish to use crypto to transact will be sent a QR code via email. This allows them to transfer funds from their wallet. Designer brand Vogue's business plan is to make digital assets available as a payment option in the U.S. by Summer.
Bitcoin, Ether, Dogecoin, Shiba Inu, and Litecoin will be accepted. It is also reported that Las Vegas, New York, Los Angeles, Atlanta, and Miami will be the first to accept the plunge.
Gucci CEO Marco Bizzarri in a statement said that -
"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."
This fashion house is not the first to embrace digital assets. It comes as a premium brand and an attempt to attract those who are crypto-rich but cash-poor.
Vogue Business reports that in-store cryptocurrency payments can be made using a link that you will receive in an email. This link will take you to a QR code that will allow for payments in approved currencies using the crypto wallet. By the end of this summer, all North American stores will be able to accept crypto payments.
Customers who wish to pay in-store with crypto will receive an email containing a link to a QR code that allows them to transfer funds to their digital wallet. This is the latest extension of Gucci's digital commitment. Gucci is already active in the digital metaverse; in May, they sold a digital Gucci bag for $4,115, where the price was higher than that of the physical Gucci bag. To engage customers, the company also offers NFTs.
Gucci products, which are highly expensive, can be a gamble. You might find that the $2,000 you spent on a shirt or bag today could turn into $4,000 within a few months due to wild market fluctuations.
Although Gucci is late to the crypto acceptance game, it is not a newcomer. AMC Theaters, and Regal Cinemas, have started accepting cryptocurrency payments last autumn. You can also buy Dallas Mavericks tickets using it.
