The crypto industry has printed its first foot in almost every sector. As crypto-assets evolve faster in the digital world, cryptocurrency adoption has become a trend, with many industries accepting cryptocurrency. Cryptocurrency is now making its first foray into the fashion industry.
Philipp Plein is the first fashion brand to accept cryptocurrency as payments for both online and in-store. This popular, fashion giant is accepting 15 cryptocurrencies, which include Bitcoin and Ethereum.
As of the announcement on August 3, the company accepts the digital currency for purchases in the group’s many brick-and-mortar retail stores worldwide, as well as on the brand’s e-commerce platform.
Philipp Plein, a German designer, and Switzerland-based company has always been at the forefront of digital-technology investment and development in the fashion industry. Moreover, Philipp Plein is the first fashion brand to embrace the domain of the crypto industry. The Founder of Philipp Plein, Mr. Plein stated:
“I believe that cryptocurrencies are the way of the future, and my team and I have made a significant time and resource commitment to make all necessary system modifications in order to adopt this new type of currency. I am very pleased to be able to provide our customers with this additional payment tool and the flexibility that it entails.”
Crypto Adoption
Philipp Plein was among the first global brands to embrace digital technology. They were an early supporter of fashion technology, to create and implement an in-house e-commerce platform.
The crypto payments option for Philipp Plein is just a small drop in an ocean of crypto adoption. Whereas, on the other hand, a historic brand Burberry releases NFT collectibles and luxury brand conglomerate LVMH integrated blockchain-based services.
Many other high-end beauty and accessory brands, including Hublot and Franck Muller, accept cryptocurrency payments. Lately, in the B Word conference, Tesla CEO, Elon Musk also gave an announcement that he will resume BTC payments for purchasing cars. As simple as it seems, digital currencies are progressing around the world as the digital world’s future.
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