Erik Weijers, 9 months 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!
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Cardano had a rough start this week with an outage of more than half of its network. Things have been fixed shortly after the incident happened and got a little bit brighter this week. Not because of Cardano’s nodes, but because of a small automotive project in Sri Lanka that is leveraging its blockchain technology.
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Charles Hoskinson is the founder of Cardano, and most of his public statements are broadcast on his own YouTube channel. Hoskinson is usually giving updates on Cardano and the recent developments and upgrades that are in the making. Recently, he announced something that comes as a little bit of a surprise.