Luxury fashion brand Philipp Plein now accepts cryptocurrency as a payment method both online and in its stores. Here is our take on the German designer’s candidacy to become the next king of crypto.
The time many tech-savvy buyers have been waiting for is finally here. Cryptocurrencies have made their way into the fashion consciousness. While many fashion designers and entrepreneurs are crypto investors themselves, very few have the courage to expand its use into their own businesses. But no, Philipp Plein, the German fashion designer known for his avant-garde designs. Two days ago, the creator announced to his 2.5 million Instagram followers that the brand will accept 15 different types of cryptocurrency as a means of payment for its products.
Partnering with the payment getaway, Coinify, the brand will redirect their crypto payments to their payment page to complete the purchase. Cryptos accepted are Bitcoin, Bitcoin Cash, BNB, Bitcoin SV, 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 nickname Crypto King. This new payment model corresponds to the type of young and dynamic clientele that Plein usually targets.
As we dig 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 collection of non-fungible tokens (NFTs) in partnership with Mythical Games. Dubbed Burberry’s B-Series, these limited-edition products will be available for in-game purchase through the Blankos Block Party Marketplace on August 11. Even Dolce & Gabbana has announced plans to launch NFT clothing in partnership with luxury market UNXD. These technological insurgencies in the fashion world are definitely one to watch out for.