“The news of Gucci announcing its accepting cryptocurrencies as payment later this month means that there will be a growing demand for crypto-to-fiat conversion as Gucci will be ultimately accepting fiat funds,” said Fuad Fatullaev, founder and CEO of WeWay.
“On the flipside, acceptance of cryptocurrency payments could provide an amount of unpredictability on sales given the volatility of the crypto market in general,” Santos said.
Santos said this is not Gucci’s step into the world of tech and Web3.