Erik Weijers, 9 months ago

Gucci will accept Bitcoin, Doge and Shiba

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.

Gucci is an early adopter

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!

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Ark Invest released a new Big Ideas report, focusing on the disruptive potential of technologies such as AI and crypto. Bottom line: the recent price crash hasn't changed the research and investment firm's view on the growth potential of crypto. For 2030, they envision a 25 trillion-dollar market cap, a 25x from now. How is this possible?

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