Bitcoin [BTC] leveled up in terms of its global reach over the last couple of years. BTC emerged as a store-of-value asset as opposed to a means of payment. This narrative was certainly changing as mainstream platforms across the globe have been accepting the world’s largest cryptocurrency. Even governments have begun showing interest in accepting crypto assets. Riding this crypto wave, luxury label, Off-White revealed that it was now accepting crypto for payments.
Off-White has an array of stores in London, Milan as well as Paris. Thanks to this luxury label, Bitcoin and other cryptocurrencies would make their debut in the fashion capitals of the world. At present, the platform accepts a total of six cryptocurrencies. This includes Bitcoin, Ethereum [ETH], XRP, Binance Coin [BNB] as well as the largest stablecoin Tether [USDT] and its counterpart USD Coin [USDC].
Speaking about the latest inclusion, Off-White said,
“This is another important step in the growth of the brand, that looks towards the future including Web 3.0 technologies, understanding the needs and desires of its ever-evolving customer base.”
Similar to an array of other platforms, Off-White intends to lure GenZ consumers into its system with Bitcoin and other cryptos. Additionally, the refund process on items purchased with crypto would be issued through store credit.
Bitcoin paints the fashion industry in orange
Fashion brands across the globe have been hopping onto the Bitcoin bandwagon. Philipp Plein, a prominent luxury streetwear label began accepting crypto back in 2021. The brand witnessed a surge in its profits via crypto. Plein reportedly revealed that a minimum of one crypto transaction is carried out every day.
Luxury watch brand, Hublot had recently affirmed the acceptance of crypto this year.
Moving on to the alts. Fashion brand John Richmond steered into the meme crypto world by collaborating with Shiba Inu.
Additionally, as the fashion industry embarks on its digital journey, Bitcoin and other cryptocurrencies seem to be playing a vital role.