Gucci the uber-luxury brand to accept crypto payments by may end.
Gucci is the most famous luxury brand that the Richie riches love to flaunt. It’s called a “Luxury brand” for a reason. Be it celebs, Billionaires, or millionaires everyone loves to flaunt the GG symbol on their bags, clothes, belts, almost everything. This Italian fashion brand is a dream come true for millions who wonder what is so special well they have the trendiest collections. This luxury giant announced its plans to accept payments in cryptocurrencies. Speaking of cryptocurrency, interested people are reading news articles about cryptos from being digital assets to growing payment methods.
Good News for Crypto markets
Well, this is great news for all the cryptocurrency billionaires they can buy Gucci products and pay easily Via cryptocurrencies. Currently, the big fashion giant will start accepting cryptocurrencies like Bitcoin, Bitcoin cash, wrapped Bitcoin, Ethereum, Shiba Inu, Litecoin, Dogecoin, and 5 more stable coins as payment in their stores that are directly managed in North America.
Pay through QR code
The luxury brands’ acceptance of crypto payments is part of a pilot program in stores managed directly By Gucci. Initially, the Gucci stores in Los Angeles, New York, Atlanta, Miami, and Las Vegas will accept payment in cryptocurrency. The brand has plans to expand and implement crypto payments in all 111 stores in North America. Clients will get an email with a QR code so that they can make payments through digital wallets. Gucci has trained their employees in cryptos, Web3, and NFTs way before adopting the payments plan across North American stores
Gucci in Metaverse
Gucci previously dropped 2 NFT collections Gucci Grial and SUPER GUCCI in 2022. Gucci has also tried its hands into the Web3 world by buying land in the virtual world Sandbox. Now the giant wants to fully explore the world of cryptocurrencies by accepting payment in crypto.
CEO statement
Gucci CEO Marco Bizzari quoted “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 into our payment system, it is a natural evolution for the customers who would like to have this option at their disposal.”
This is just a beginning
So this is just the beginning of a luxury brand in the future we will see many brands joining the bandwagon of crypto payments. Surely cryptocurrencies are here to stay with more big giants adopting and embracing cryptocurrencies. cryptocurrencies have become immensely popular in a few years. But there are a few still wondering why to choose cryptocurrencies over Local currency which works fine. Well, there are multiple perks of crypto payments and which is why big brands are embracing crypto payments.
Cryptocurrency payments are super fast and can be completed in mere minutes. Just one block and your transaction are confirmed with help of the network, payment is done and funds are ready to use.
Cryptocurrencies are accessible, you can set up a cryptocurrency wallet very fast when compared to banks. No ID checks, no background checks, or even credit checks. No centralized authority no banks involved.
Cryptocurrency payments are secured no one can access your funds or sign transactions or no one can recover your funds. Unless someone has access to your private key for your crypto wallet.
Many big giants are accepting Bitcoin as payment like
- AT&T
- Microsoft
- Wikipedia
- Burger King
- KFC
- Subway
- Overstock
- CheapAir
- Gyft
- Shopify
- AMC theatres
- Paypal
- Starbucks
- Twitch
- Amazon
Rakuten
Well, the list is very long there are many big names, big companies that accept and also pay in cryptocurrencies. The future is cryptocurrencies undoubtedly now you can buy a property, a coffee, a luxury bag, a burger, a car, or jewelry; almost everything can be bought with cryptos.
