Fashion Brands Start Using Cryptocurrency
Cryptocurrencies are becoming more and more widely accepted around the world. One of the most “open” and crypto-acceptable sectors is the fashion industry. Let's take a look at our's prominent brand names that accept crypto payments and/or participate in the NFT segment!
Accepting Cryptocurrency Payments
Philipp Plein – August 6, 2021
Luxury brand Philipp Plein is the first major in the fashion industry to accept cryptocurrency payments. Initially, they support payments in BTC, ETH and 13 other cryptocurrencies.
TAG Heuer – May 20, 2022
High-end watch brand TAG Heuer supports customers who shop online in the US to pay with crypto via BitPay. Specifically, the US-based TAG Heuer website accepts BTC, ETH, LTC, DOGE, SHIB and 5 stablecoins.
Balenciaga – May 24, 2022
French luxury fashion brand Balenciaga accepts Bitcoin and Ethereum payments from May 2022.
Hublot – June 21, 2022
Swiss luxury watch maker Hublot allows Bitcoin payments through Bitpay, and begins to apply for a collection of 200 edition watches latest limit.
However, this is limited to customers paying online in the US.
Gucci – August 3, 2022
Most recently, Gucci accepts payment in ApeCoin via BitPay.
Earlier in May, Gucci tested accepting payments in BTC, ETH, BCH, WBTC, LTC, DOGE, SHIB and 5 other stablecoins at some stores in North America.
Join the field of metaverse and NFT
You can see real-time NFT sales data of fashion brands here:
Dolce & Gabbana – August 30, 2021
Venice Fashion Week 2021 has shocked the global crypto community when fashion house Dolce & Gabbana presents an NFT collection called “Collezione Genesi”.
This collection contains 9 NFTs, including a rare tiara decorated with diamonds and red emeralds – “The Impossible Tiara”.
All NFTs in the collection are auctioned exclusively on UNXD, a platform built on top of Polygon.
NIKE – 11/22/2021
Sportswear brand NIKE entered the metaverse for the first time in November 2021 when it announced the creation of a virtual world in the Roblox game. This world is named NIKELAND, allowing players to outfit their characters with NIKE items, from hats, clothes to sneakers.
A month later, NIKE acquired the fashion startup NFT RFTKT to further encroach into the digital fashion segment. And the first product of this duo was released in April 2022 with the name RTFKT x Nike Dunk Genesis CryptoKicks. This is the NFT shoe collection built on Ethereum.
Most recently at the end of May, NIKE continued to spend heavily 19.72 ETH (equivalent to 35,000 USD) to buy Ethereum Name Service (ENS) domain name.
It can be seen that NIKE is one of the fashion brands that are most actively exposed to crypto and NFT today.
Adidas – December 3, 2021
NIKE's rival Adidas is no less competitive when it quickly bought Bored Ape Yacht Club (BAYC) number 8774 in December 2021. In addition, the sportswear company announced that it is collaborating with Yuga Labs to further penetrate the metaverse – aiming for a new vision of the future Internet, where users interact and share 3D worlds with collections. their NFT files.
Just a few days later, adidas Originals had the first NFT sale, causing a big fever in the community. Nearly 30,000 NFTs were sold out, bringing the sportswear company a total of $23.5 million. This collection also quickly reached the top of the top popular NFTs on OpenSea.
Under Armor – December 22, 2021
To honor the peak of his career, basketball superstar Stephen Curry collaborates with Under Armor shoe brand to open NFT on December 22 2021.
The collection, named The “Genesis Curry Flow”, includes 2,974 pieces that are digital copies of the “Curry Flow 9” sneakers made by Under Armor. Thanks to these shoes, Curry broke the record of NBA legend Ray Allen. Each NFT starts at $333, with all proceeds going to children's sports charities.
Crocs – 11/01/2022
Footwear brand Crocs has filed a trademark application to expand its presence into the NFT sector.
According to the application, Crocs' NFT collections of shoes, clothing, bags, accessories and decorative items are all protected. In addition, software for sending, receiving and trading NFTs, as well as an online store for selling NFTs are also in the legal category.
This is a signal that Crocs is preparing to release NFT.
New Balance – January 13, 2022
Just 2 days after Crocs, New Balance also filed 3 trademark applications with the intention of selling shoes, clothing and virtual sports equipment.
Gap – Jan 13, 2022
Starting January 13, Gap presents a collection of NFTs running on Tezos, based on a hoodie theme.
Prada – January 21, 2022
At the end of January, adidas teamed up with Prada to launch a new NFT project on Polygon. NFT is inspired by Prada's hit Re-Nylon collection, which was first launched in 2019. Auction proceeds from the NFT will be donated to a charity that supports artists and creators. create.
In addition, Prada and adidas also said that they are hatching plans to launch the next collaboration aimed at the metaverse space, called "adidas x Prada Re-Nylon".
At the beginning of June, Prada released NFT on Ethereum. This batch of 100 NFTs was sold at the same time as the company's latest Timecapsule shirt collection.
Gucci – 10/02/2022
The next name to mention is Gucci. It seems that the high-end fashion house is very active in its exposure to crypto and NFT. In February 2022, Gucci purchased The Sandbox land to enhance the metaverse experience. By June of this year, the company invested $ 25,000 in DAO SuperRare, preparing to launch "Digital Art Vault".
Lacoste – June 14, 2022
French fashion brand Lacoste launches an NFT collection called UNDW3. The event comes just a week after the famous fashion brand launched its Discord server, and 30,000 people signed up in the first two days.
The NFT UNDW3 count includes 11,212 pieces, referring to a Lacoste L1212 signature polo t-shirt. They will be sold for 0.08 ETH.
TAG Heuer – June 15, 2022
TAG Heuer, the Swiss watch manufacturer owned by the luxury fashion empire LVMH, has now allowed the integration of NFT on the face of a watch. smart watch model number.
Accordingly, owners can display NFT on the watch face in JPEG and GIF formats. The NFT will appear on the background as a hexagon with a moving cloud around. This feature is similar to how Twitter used to attach NFTs to users' profile pictures.
Balenciaga – June 17, 2022
On June 17, Meta announced that it has partnered with three popular fashion brands Balenciaga, Prada and Thom Browne to launch a digital fashion store called Avatars Store.
This feature will appear on Instagram, Facebook and Messenger in the coming months. Currently, Meta is providing more than 100 free avatar sets on the platform and supports many forms of payment.
Burberry - 11/07/2022
Burberry, the "famous" pillar of the British fashion industry, has just launched a virtual handbag in the Roblox game, inspired by designs made hence the name of the company.
Virtual handbags sell for just a few dollars and are paid in Robux, Roblox's currency. Each bag comes with an exclusive emoji.
Tiffany & Co. – August 1, 2022
High-end jewelry brand Tiffany & Co. collaborated with CryptoPunks to launch a series of necklaces printed with NFT Punks in gemstones and diamonds.
Each NFT necklace costs 30 ETH, including the cost of the NFT, custom pendant, chain material and shipping and handling.
It seems that NFT and metaverse are extremely potential lands for fashion giants to show their creativity. In the coming time, we will see many big fashion brands step into this game.
Aug 20, 2022