Luxury fashion brand Philipp Plein is now accepting cryptocurrency as payment both online and in his stores. Here’s our bit on the German designer’s bid to become the next crypto king.
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The time that many tech-savvy shoppers have been waiting for has finally arrived. Cryptocurrencies have made their way into fashion’s consciousness. While many fashion designers and entrepreneurs are investors in crypto themselves very few have the gumption to extend its use to their own businesses. But not, Philipp Plein, the German fashion designer known for his edgy designs. Two days ago, the designer announced to his 2.5M followers on Instagram that the brand will be accepting 15 different types of cryptocurrency as payment for its goods.
Partnering with payment getaway, Coinify, the brand will redirect its crypto payments to their payment page to complete the purchase. They accepted cryptos are Bitcoin, Bitcoin Cash, BNB, Bitcoin S.V, Dogecoin, Ethereum, Litecoin, Nano, OmiseGo, Paxos Standard Token, Qtum, Tron, TrueUSD, USD Coin, Tether ERC-20.
With this monumental decision, Philipp Plein hopes to make history and earn the moniker of Crypto King. This new payment model aligns with the kind of dynamic, young clientele Plein usually caters to.
Digging deeper, crypto and fashion were made for each other. In the recent past, brands like Prada, Cartier, LVMH have explored blockchain technologies in their fight against counterfeits. More recently, Burberry launched its first non-fungible token (NFT) collection in partnership with Mythical Games. Dubbed Burberry’s B-Series, these limited edition products will be available for in-game purchases via the Blankos Block Party marketplace on August 11. Even Dolce&Gabbana announced its intent to launch NFT wearables in partnership with luxury marketplace UNXD. These technological insurgencies into the world of fashion are definitely one to watch out for.