Gucci to Accept Bitcoin Payments and 12 Other Cryptocurrencies

from Token Party

The iconic luxury clothing company Gucci will start accepting Cryptocurrency Payments in 5 flagship stores by the end of the month.

Gucci to join the Web3 world: soon customers will be able to pay with Bitcoin and other cryptocurrencies in 5 stores:

  • Wooster in New York
  • Rodeo Drive in Los Angeles
  • Miami Design District
  • Phipps Plaza in Atlanta
  • The Shops at Crystals in Las Vegas

The plan, as stated by the Florentine maison, is to expand this to all 111 stores in North America. A decision that reaffirms the crypto-friendly nature of the company, always careful not to lag behind with the times and always on the spot to take advantage of the opportunities offered by new technologies.

"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."

These are the words of Marco Bizzarri, the label's president and CEO, in a statement in which he expresses his support for the cryptocurrency ecosystem. Rodeo Drive Flagship Store- Beverly Hills, Los Angeles

Rodeo Drive Flagship Store - Beverly Hills, Los Angeles.

Which Cryptocurrencies Does Gucci Accept?

The 12 cryptocurrencies that will be accepted by the 5 Gucci shops:

  • Bitcoin 
  • Ethereum
  • Bitcoin Cash
  • Wrapped Bitcoin
  • Litecoin
  • Shiba Inu
  • Dogecoin
  • 5 stablecoins that are aligned with the US dollar

What stands out at first glance is the presence of the Doge and Shiba memecoins, which are increasingly popular with Generation Z and Millennials. The inclusion of these types of assets as a payment system within prominent companies such as Gucci are proof of the strength and importance of these projects in the crypto market. The numbers speak for themselves: Doge and Shiba together capitalise around $29 billion, ranking #12 and #15 respectively in the Coinmarketcap rankings.  

Gucci as a Crypto-Friendly Company

The decision to add cryptocurrencies as a means of payment is not the result of an occasional opening by the company. The luxury brand Gucci has in fact already demonstrated twice that it has a proactive approach towards the Web3 and the Cryptocurrencies:

  • The first time, in February 2022, by launching the "SUPERGUCCI" NFT collection, created through a collaboration with 3D animation expert Superplastic
  • Also in February 2022, Gucci announced its entry into the metaverse through a targeted investment in virtual land on The Sandbox