Gucci and Starbucks Go Crypto to Bond with Customers
Iconic Brands Tap NFTs and In-Store Payments
By: Jason Levin •Byte
The crypto markets may be swooning, yet mainstream companies continue to embrace blockchain technology to deepen their connection with customers.
The latest converts: Gucci and Starbucks.
Gucci, the iconic Italian fashion house, plans to accept digital tokens — Bitcoin, Bitcoin Cash, Ether, Dogecoin, Litecoin, Shiba Inu, and several stablecoins — in select U.S. stores at the end of May.
Gucci will allow in-store crypto payments via an email sent to the customer. This email contains a QR code that allows them to execute the payment from their crypto wallet.
Previously, Gucci had released an NFT collection called Supergucci as a partnership with animation studio Superplastic and an NFT collection called 10KTF Gucci Grail inspired by Alessandro Michele, Gucci’s new creative director .
Meanwhile, Starbucks, the gourmet coffee giant with 32,000 stories in 80 nations, is launching NFT collections to “allow for access to exclusive experiences and perks.” Translation: the company wants to use nonfungible tokens to strengthen its loyalty programs, a function that’s attracting attention from corporate marketing departments and investors.
Playing off the idea that customers work in Starbucks shops in addition to offices and residences, Starbucks is dubbing its foray into blockchain as The Digital Third Place. The team plans to create NFT collections based around coffee-related art.
Starbucks’s approach will “likely be multi-chain or chain agnostic […] and will certainly start collections backed by blockchains and infrastructure that is consistent with our multi-decade commitment to sustainability,” according to its press release.