Gucci is the latest high-end retailer to accept cryptocurrency payments in-store

Gucci's previous Web3 attempts resulted in the brand accepting 12 cryptocurrencies in a few chosen locations, with a bigger rollout expected in the future.



Gucci, the high-end Italian fashion house, has announced that it will begin accepting cryptocurrency payments in five of its US stores by the end of the month, with plans to expand the service to all of its 111 locations in North America.


According to Vogue Business, Gucci will take 12 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, Dogecoin, and some stablecoins.


Customers who pay with cryptocurrency in-store at the pilot locations in New York, Los Angeles, Miami, Atlanta, and Las Vegas will receive an email with a QR code that they may use to pay with their digital asset wallet.


Moreover, Gucci has been training and educating its employees on crypto, non-fungible tokens (NFTs), and Web3 to prepare them for the launch.


Gucci has recently gone on a Web3 adoption binge, releasing two NFT collections in 2022 with the "SUPERGUCCI" collection in February in collaboration with toy brand SUPERPLASTIC, and the "Gucci Grail" collection in March.


Its first NFT was a 4-minute video called Aria, which was inspired by its Aria clothing range, was sold for $25,000 in an online auction conducted by Christie's in June 2021.


Gucci's Web3 expansion continued in February with the purchase of virtual land in The Sandbox, where it is constructing a virtual retail experience similar to its Vault e-store.