Philipp Plein is officially the first luxury fashion house to accept crypto currency payments
Luxury fashion brand Philipp Plein is now accepting cryptocurrency as payment both online and in stores. The German designer is on a mission to become the next crypto king. The time that many tech-savvy shoppers have been waiting for has finally arrived. Cryptocurrencies have made their way into fashion industry. While many fashion designers and entrepreneurs are investing in crypto as indivisuals, 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 made a groundbreaking announcment to his 2.5M followers. The brand will be accepting 15 different types of cryptocurrency as payment for its goods.
The german luxury partnered up with payment getaway, Coinify, the brand will redirect i'ts crypto payments to their payment page to complete the purchase. The accepted crypto currencies include 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. Recently, 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 wearable in partnership with luxury marketplace UNXD. These technological insurgencies into the world of fashion are definitely to watch out for.
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