Gucci Stores Accepting Bitcoin, Shiba Inu, Other Cryptocurrencies

Written By Simon Mwebaze

Cryptocurrencies got another nudge for their long-term potential. Following the footsteps of other luxury fashion brands like Off-White and Equinox Group, Gucci is making its move.

Gucci, the high-end fashion label, will accept 10 cryptocurrencies and 5 stable coins. You can expect cryptocurrencies like Bitcoin, Shiba Inu, Ethereum, Dogecoin, and Litecoin.

This isn’t a first for Shiba Inu. It is available on many trading platforms as well as online and physical stores.

“This is great for SHIB and crypto in general,” said Into The Meta News Co-founder Kelly Ann Collins. “This shows that the business world is ready to expand its consumer base. OG brands, like Gucci, are getting more innovative, and they are taking note of the massive influence that the SHIB community, and crypto enthusiasts in general, is having on the marketplace.”

The rollout starts with five stores in New York, Los Angeles, Miami, Atlanta, and Las Vegas. Soon after, it will extend to 111 stores across North America.

Gucci isn’t leaving its employees behind. They are investing in training for employees in NFTs, crypto, and Web3.

This is not Gucci’s first tangle with Web3. It has already released two NFT collections – SuperGucci and Gucci Grail this year. They also purchased virtual land in Animoca Brands’ decentralized blockchain game The Sandbox. The virtual land is for their virtual concept store, “Gucci Vault,” for Gucci-themed NFTs.

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” said Marco Bizzarri, Gucci’s president and CEO, in a statement. “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.”

More brands adding cryptocurrencies to payment systems is a positive nod.

We look forward to more developments.

 

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