TL;DR Breakdown
• Philipp Plein shows support for cryptocurrencies.
• Gucci presents an NFT auction with featured products.
Several global businesses and retail stores are joining the crypto trend by accepting cryptocurrencies as payment. Opinions on crypto may be diverse, but from a broader perspective, their acceptance exceeds 50 percent.
In the first days of August, two recognized companies have accepted the challenge and have imbibed trust in cryptocurrencies. The Philipp Plein clothing brand represents one of these, and on the other hand, is the American brand Quiznos. Both brands are are well known in the fashion world, and their crypto adoption could positively accept crypto as a whole.
Philipp Plein’s amazing entrance
German clothing brand Philipp Plein confirms that it will become the first fashion clothing line to accept cryptocurrencies. The company authenticates that it will adopt over 10 cryptocurrencies, including Bitcoin and Ether, in an announcement. The fashion brand will likely accept other cryptocurrencies such as Dogecoin, Cardano, Litecoin, and Bitcoin Cash.
Users interested in the German clothing line will have fiat or cryptocurrency purchases available. These crypto transactions can be completed in physical stores or online on the website Plein.com.
Philipp Plein, founder, and designer said the brand acting as a progressive clothing brand comes as no surprise. He even believes that crypto belongs to the financial future, and wants to ensure his team will be part of it. The fashion brand has adjusted to accept this new payment method and expects that customers will love it.
Philipp Plein has become one of the most recognized fashion brands globally, and this announcement will increase its fame. By the end of 2021, the luxury clothing brand expects to bill around $120 million in crypto payments.
Other global brands join crypto payments
The Philipp Plein founder announced crypto payments on his Instagram account, taking advantage of his over 2 million subscribers. Even the famous designer name himself the crypto King.
The German clothing brand is not alone in joining crypto as Gucci has also taken positive steps. The Italian firm Gucci held non-fungible token auctions with products from its collection. Gucci is expected to lay the groundwork with cryptocurrencies in the coming months and embrace them for virtual payments.
Also, the Italian brand Dolce & Gabbana presented its NFT collection a few weeks ago, which succeeded. Moving away from the fashion world, the fast-food line Quiznos accepted crypto payments as part of its updates. Even McDonald’s and Germany-based Burger King have accepted Bitcoin payments among their services.
