2022 was certainly the year when brands — perhaps driven by a kind of imperialist fever to be the first to conquer that unexplored land of Web 3 — experimented with more blockchain technologies. Among the absolute innovators when it comes to the Metaverse, Gucci He immediately established himself as one of the first to adopt Web3 technologies, through NFT projects such as SuperGucci and Gucci Grail or the video game Gucci Vault on Sandbox. So it’s no surprise that the brand recently announced that it will start accepting this month Cryptocurrency payments in some US stores, a move that clearly links Gucci’s fledgling Web3 community with real-world consumption. “Gucci is always trying to embrace new technologies that can provide an improved experience for our customers” – Marco Bizzarri, President and CEO of Gucci, said in a statement – “Now that we are able to integrate cryptocurrency into our payment system, this is a natural progression for those customers who want this option to be available to them.”
JUST IN: Coinbase CEO says 1 billion people have used or tried #cryptocurrency within the next ten years.
– Watcher.Guru (@WatcherGuru) May 3, 2022
Cryptocurrency payments within the store will be made through a link that is emailed to the customer, containing a QR code that allows you to pay from your crypto wallet. Gucci accepts payments in more than 10 currencies, including Bitcoin, Bitcoin Cash, Ethereum, Rolled Bitcoin, Litecoin, Sheba Inu and five stablecoins pegged to the US dollar, plus DogecoinThe cryptocurrency meme was originally born as a joke. similarly Off-White™ It now accepts crypto payments at its flagship stores in London, Paris and Milan: “Another important step in the growth of the brand, which looks to the future including Web 3.0 technologies and the ever-evolving needs of customers” Brand commented. luxury watch brand Hublot The choice was made possible last February, while the Italian luxury street brand Philip PleinOne of the first to adopt crypto payments in August 2021, he said he has already raised 150 bitcoins (equivalent to about 6 million euros at the time of writing) so far.
An option that can simultaneously be a functional strategy for brands to consolidate their grip on the Web3 community and a new generation of digital consumers, but at the same time it is a challenge and a risk in the virtual currency landscape that is not yet regulated. To overcome fluctuations in value for example, a special Off-White™ uses LUNU . POS Terminal, which finds the best cryptocurrency exchange rate at the time of the transaction and is compatible with multiple crypto wallets by scanning the QR code to settle the payment. there volatility When it comes to cryptocurrencies, this is a concrete issue, just think about the fact that the price Bitcoin In November 2020, it set a new all-time high by overtaking 68000 dollars It then fell below $30,000 in July, all while Ethereum hit an all-time high at the end of last year. Meanwhile, public interest in cryptocurrencies – a hot topic not only among enthusiasts but also in popular culture – has soared, thanks to long-standing investors such as Elon Musk And supported trading platforms are everywhere, from bus stops to Tik Tok ads.
As a result, US government and Biden administration officials have expressed increased interest in introducing new regulations for cryptocurrency. there Bipartisan Infrastructure Law The $1.2 trillion president signed in November includes reporting provisions that could make it easier to track cryptocurrency movements among Americans, even as online platforms like PayPal and Square consider incorporating them as potential payment methods. Tesla It continues to contemplate the option of accepting payments in Bitcoin, even though the company itself already owns billions of cryptocurrencies, while Amazon He recently shared a job posting for the role of “Cryptocurrency and Blockchain Product Leader” on LinkedIn. Bitcoin’s trend is a good indicator of the cryptocurrency landscape in general, given that it is the most important cryptocurrency in existence, the rest of the market tends to follow its own trends. But how high will bitcoin go? Many experts say it is only a matter of time before the currency becomes valuable $100,000. Bitcoin’s past may provide some clues about what to expect in the future, according to Kiana Daniel, author of Cryptocurrency investing for beginners: «Short-term fluctuations and long-term growth.