Erik Weijers, a year ago
Gucci will launch a pilot: later this month, it is going to accept crypto as a form of payment in five stores in the US. Besides Bitcoin and five stablecoins, the luxury brand will gladly take your Doge and Shiba. It is yet another confirmation that crypto is penetrating all levels of the market.
In addition to the aforementioned coins, Ether and Litecoin will also be accepted. It raises the question of how brands like Gucci make the choice of coins. Bitcoin, Ether and a stablecoin are obvious. But beyond that? Fashion label Off White, for example, opted for BNB and XRP. There seems to be some randomness behind it. Or maybe Gucci did some good research on which coins are most popular with their target market. Either way, it is clear that crypto is here to stay.
If the pilot is a success, Gucci will expand the payment option to all of its stores in North America. Gucci is explaining crypto, NFT and Web3 to staff through a game it developed itself.
Luxury brand Gucci is also an early adopter when it comes to NFTs and the Metaverse. Like Adidas, it bought virtual land in The Sandbox. Gucci also launched its own NFT collection in collaboration with Superplastic: Supergucci (you can see an impression on the image above this article). The Supergucci's now have a floor price of 4 ETH on OpenSea.
These NFTs serve as more than just collectables. Owners of a Supergucci, for example, will be able to pre-order items from new collections - and we're talking actual bags and dresses - not digital objects!
May 19, 2023
We wrote about it earlier: Jason Lowery believes Bitcoin could become the world's reserve currency and that countries should engage in a peaceful "arms race" to mine Bitcoin. He believes Bitcoin is a form of digital property that will be defended similar to how navies secure maritime thoroughfare. Not everyone is sold on this concept. Let's discuss a contrarian view.
May 18, 2023
Stablecoin issuer Tether (USDT) in its recent reserves report reveals that the company holds approximately 52 thousand BTC, worth a respectable $1.5 billion. This is only a fraction of its total assets but signals an interesting potential trend of institutions allocating a piece of their capital to Bitcoin.
May 12, 2023
MakerDAO is a decentralized autonomous organization and the issuer of the decentralized stablecoin DAI. Maker has been a success story for many years, surviving a stablecoin crisis, bear and bull markets, and skepticism regarding its decentralized organization from politicians and authorities. Crypto is an everchanging market, and Maker is no exception when it comes down to adapting its protocol to new technologies.
May 10, 2023
Banking is something that ought to become obsolete with the inception of Bitcoin. Bitcoin has evolved into what many believe is the only sound money on earth. On the other hand, financial products have been introduced on other blockchains, such as Ethereum. At the same time, banks might face competition from central banks looking extensively into central bank digital currencies (CBDC). Yesterday, a German company announced it would become the world’s first DeFi bank.
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