Gucci and the fashion industry have been advocating of digital assets and virtuality for the longest time.
In 2022, fashion brands have ramped up Web3 activity, with some big names filing Metaverse-related trademark applications.
Gucci has been a Web3 trailblazer while some fashion houses play catch up. The news of Gucci taking action to begin accepting crypto payments is in line with the brand’s Web3 position.
Gucci has announced a pilot program in which they will start accepting in-store crypto payments on Wednesday.
This fashion brand will begin the pilot scheme at the end of May, according to Vogue Business. QR code links will be shared in-store to shoppers via email to enable payments from crypto wallets.
Stores will accept crypto payments in more than 10 cryptos, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu Coin (SHIB), Wrapped Bitcoin (WBTC), and five USD pegged stablecoins.
Five stores will reportedly form part of the pilot scheme, these being Gucci stores on Wooster Street (New York), Rodeo Drive (Los Angeles), Miami Design District (Miami), Phipps Plaza (Atlanta), and The Shops at Crystals (Las Vegas).
They have plans to extend the pilot scheme to all North American stores by the summer.
This is not Gucci’s first time into the virtual space. They purchased LAND in The Sandbox (SAND) in February. In the Metaverse, attendees can buy and use fashion items based on Gucci Vault.
The fashion house also launched a Discord and the Gucci Grail, and the SuperGucci NFT collections, is available on OpenSea.
In 2021, Gucci and Roblox hosted the Gucci Garden, a virtual version of a real-world installation in Italy, which consisted of themed rooms in honor of Gucci’s centenary.
The increased adoption of Web3 continues to support cryptos for the crypto market, including SAND.
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