Gucci now accepts several popular cryptocurrencies, including meme coins and stablecoins. Gucci’s CEO, Marco Bizzarri, claims that the company is “always” open to adopting new technologies.
According to a story published by Vogue Business, the well-known fashion brands will begin taking Bitcoin, Dogecoin, Shiba Inu, and other cryptocurrencies at certain locations in North America. Customers will be able to use a QR code to make Bitcoin payments. Gucci’s previous Web3 initiatives have resulted in the brand accepting 12 cryptocurrencies at a few select stores, with a bigger rollout expected in the future.
In preparation for the launch, employees have been receiving training and education on crypto, nonfungible tokens (NFTs), and Web3. Gucci has recently been on a Web3 adoption frenzy, releasing two NFT collections in 2022: the “SUPERGUCCI” collection in February in collaboration with toy brand SUPERPLASTIC, and the “Gucci Grail” collection in March, which is aimed at owners of existing blue-chip NFT projects like Bored Ape Yacht Club, Pudgy Penguins, and World of Women.
Its first NFT was a four-minute video called Aria, which was inspired by its Aria clothing range, and was sold for $25,000 in an online Christie’s auction in June 2021.
Gucci pushed further into Web3 in February when it bought virtual land in The Sandbox to create a virtual retail experience similar to its Vault e-store. The Gucci Vault is an online concept store that represents “Gucci’s presence in the Metaverse,” with a selected collection of rare vintage Gucci pieces curated by its creative director.
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