Gucci Delves Into Crypto: Top Fashion Brand Submits Trademark Applications for Crypto Marketplace, Virtual Clothing, and Metaverse

0
170
Gucci

Gucci, a giant luxury fashion company, has joined a growing list of top brands to apply for five NFT, crypto, and Metaverse trademark applications.

These trademarks will cover part of its blockchain business consisting of digital marketplaces for virtual goods, virtual assets, digital media, financial brokering of virtual goods, and crypto-collectibles.

Other businesses include conducting virtual fashion shows, ticket reservation and booking services, including the provision of tickets authenticated by NFTs, authentication, issuance, and validation of digital certificates, and also software for the display, virtual currency and the electronic transfer plus exchange of virtual assets, and transfer of NFT-backed digital goods and virtual assets among others.

Related: Gucci to Accept Shiba Inu and Dogecoin (DOGE) in Selected U.S. Retail Stores This Month

Gucci Accepts Crypto Payments

Gucci owner, Kering had initially announced that the brand intends to break into the crypto world and become a pioneer in the Web3 space. Consequently, the company has taken a bold step into the blockchain industry.

The clothing brand became an active player in the crypto market when it began receiving crypto payments (Shiba Inu and DOGE) in some outlets in the United States sometime in May.

Furthermore, it plans to expand the trial program to all of its directly managed locations in North America by the summer. This action constituted a significant endorsement of cryptocurrency from preeminent luxury brands.

Gucci is an Italian fashion house established in 1921 by Guccio Gucci, making it one of the oldest Italian fashion houses still standing today. Initially, the company was an equestrian supply and baggage maker, catering to Italy’s wealthy upper classes with high-end travel items and horse gear.

“We think that Web3 and NFTs are a real breakthrough, and we want to be pioneers on that. Luxury has a role to play. There’s a real opportunity for us to create digital products that would be ways to express our houses.”

Read More: Balenciaga Joins the Crypto World: Top Fashion House Accepts Bitcoin and Ethereum Payments in the United States