Good news is coming from Italy and once again it concerns the fashion industry. The well-known brand Off-White has decided that from now on it will also accept cryptocurrencies as means of payment.
Meeting the expectations of millennials
According to information obtained by VougeBusiness, users of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and XRP can from now on use their coins to make purchases at Off-White. This applies to stores located in Milan, Paris and London. The luxury fashion brand has also decided to accept payments in coins such as Binance Coin (BNB), Tether (USDT) and USD Coin (USDC).
Representatives of the brand, in a brief statement inform:
“This is another important step in the development of a brand that looks to the future by incorporating Web 3.0 technology, understanding the needs and desires of its ever-evolving customer base. “
One of the brand’s goals is to continue the legacy of its founder, who took special care to focus on youth culture as well as innovation. With this in mind, the Off-White team created a TikTok account to stream the Fall/Winter 2022 shows, with millennials being the primary audience, of course. Similar assumptions are behind enabling payments through cryptocurrencies. According to brand representatives, it is this generation that is looking for opportunities to make practical use of digital assets, gradually pushing traditional payment methods out of the market.
Off-White is also mindful of the volatility that cryptocurrencies are characterized by. To this end, the company has decided to use the LUNU POS payment terminal. Its purpose, when making a payment, is to find the best exchange rate between fiat currency and virtual assets. However, customers who make a purchase through cryptocurrencies and wish to return the goods later will be compensated in Euros.
Interest in cryptocurrency payments is growing
Off-White is one of many examples of brands that rely on payments with digital coins. Interest in this type of solution is growing, which not only contributes to the further adoption of cryptocurrencies, but is even a small crypto revolution. We recently reported on a school in Dubai that has also decided to adopt similar payment methods. Haven’t read about it yet? Be sure to check out the article “Dubai school will accept tuition fees in Bitcoin and Ethereum“.
Meanwhile, the fashion industry is getting particularly involved in blockchain and even via meme coins, led by SHIB. You can read about NFT’s fashion project involving the dog coin in the article “Shiba Inu expands horizons by entering fashion industry”. We encourage you to read it!