Ralph Lauren is making a mark in the cryptocurrency scene by accepting a large variety of cryptocurrencies at its stylish and cutting-edge Miami Design District store!
This is the brand’s first store to accept cryptocurrency payments, embracing South Florida’s lively culture.
Ralph Lauren Partners With BitPay
The shop will accept an array of cryptocurrencies, thanks to its partnership with BitPay, a prominent cryptocurrency payment provider. The number of available payment methods for shoppers doesn’t stop with well-known ones, like Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC).
Together with other cryptocurrencies including ApeCoin (APE), Bitcoin Cash (BCH), Dai (DAI), Euro Coin (EUROC), Gemini Dollar (GUSD), Litecoin (LTC), Pax Dollar (USDP), USD Coin (USDC), and Wrapped Bitcoin (WBTC), Ralph Lauren is also catering to Dogecoin (DOGE) and Shiba Inu (SHIB) lovers!
When the subject becomes refunding, refunds will be paid with the same crypto which was used for the initial payment.
Ralph Lauren x Poolsuite
The brand also collaborates with Poolsuite, whose NFT-gated membership is in line with the Miami way of life (formerly Poolsuite FM, an online radio station).
About 3,000 members of the Poolsuite community will receive a co-designed Ralph Lauren x Poolsuite NFT as part of the relationship. The NFT has a real-world utility; the holders can get the chance to join a party later this month!
Cryptocurrencies & NFTs Become Popular Among Fashion Brands
Like Ralph Lauren, Gucci announced that the brand takes ApeCoin, Bitcoin, Ethereum, Dogecoin, and Euro Coin through the cryptocurrency payment processor BitPay. Furthermore, the French luxury brand Balenciaga announced that it will be receiving Ethereum and Bitcoin as payments. In addition to these brands, the luxury fashion retail platform Farfetch has announced that it will accept Bitcoin payments with other sizable stores; the brand intends to let all US, UK, and Europe pay with cryptocurrencies.
As it can be understood from the above examples, the fashion industry is embracing cryptocurrencies and NFTs!