- Gucci makes bullish announcement of accepting crypto payments.
- The high fashion luxury brand now accepts Ethereum (ETH) and Dogecoin (DOGE).
- However, this move only adheres to a few select stores in the USA.
Mainstream adoption of crypto continues to grow rapidly, with the latest news coming from the luxury fashion sector. In detail, the high fashion brand Gucci makes bullish announcement of accepting crypto payments, including the pioneer altcoin Ethereum (ETH) and the pioneer memecoin Dogecoin (DOGE). This is highly bullish news for altcoin holders, especially ETH and DOGE enthusiasts.
Gucci Makes Bullish Announcement of Accepting Crypto Payments
Since the web3 industry’s arrival, the world has taken a long time to warm up to the rapid and disruptive changes cryptocurrencies and blockchain technologies have brought to the world. However, chaoting it may have been at first, the world has grown to accept and grow alongside these disruptive technologies by finding the right utility and application for web3 tech within existing industries.
The first few years were most interesting, as innovation was just testing the possibilities of web3 applications in the real world. While most were skeptical, mostly due to the many rampant scams involving crypto due to a lack of regulations, expertise, and public knowledge, many sectors found that using blockchain technology would actually make a profound impact on their industries.
Gucci Now Accepts ETH and DOGE
For instance, intellectual property, high security sectors, and sectors attached to transparency and in need of immutable systems all came to understand that using blockchain technology would be highly beneficial for them. Companies such as wine makers and other food industries could showcase the ethical and organic processes they had in place to prove that their products were authentic.
It is this authenticity that then brought the attention of high fashion brands. Much like artists using blockchain technology to prove ownership and authenticity, fashion brands began to put their products on the blockchain, thereby proving the authenticity and originality of their products is a strong effort to reduce the sale of knockoffs across the world. Thus, many see that Gucci’s latest announcement was only a matter of time.
As we can see from the post above, the high-fashion luxury brand, Gucci, just announced that it has begun to accept payments in cryptocurrencies, including the pioneer altcoin Ethereum (ETH) and the pioneer memecoin Dogecoin (DOGE), in select stores across the USA. While some respond to this announcement saying that Gucci is making a smart move to capitalise on the crypto market and popular cryptocurrencies, others see it as a strategy to farm from an engaging and active crypto community.
