According to the Vogue Business media portal, Bitcoin, Ethereum, and Ripple users may now use their holdings to shop at Off-White, a modern luxury apparel company with outlets in Paris, London, and Milan.
Other cryptocurrencies such as Binance coin (BNB), tether (USDT), and USD Coin can also be used to pay for Off-White products instantaneously (USDC).
“This is another significant step in the brand’s evolution as it looks to the future, incorporating Web 3.0 technology and recognizing the wants and wishes of its ever-changing client base,” the company said in a statement.
In particular, as interest in the emerging asset class grows internationally, Ripple (XRP) payments have continued to gain traction across various businesses.
Off-White will take the fashion sector by storm
Notably, Off-White is well aware of the volatile nature of cryptocurrencies, which, if not constantly watched, have the potential to see a catastrophic drop in value.
To counteract this danger, the Italian design house said that it had implemented the LUNU POS, a payment terminal that can find the best fiat-to-crypto conversion rate at the moment of purchase.
Customers who buy things using cryptocurrency and want to return them will get reimbursements in local money.
The fashion label’s objective, according to the study, has always been to carry on its founder’s heritage of young culture and creativity.
Off-White developed a TikTok account to webcast its Autumn/Winter 2022 show to the younger generation as part of its commitment to fostering youth culture.
Off-White’s use of bitcoins also appeals to the younger generation, which is passionate about the asset class and sees fashion as a viable financial choice.
Millennials have embraced cryptocurrency because they feel it is a technology that better meets their requirements than traditional payment systems.
More firms are adopting cryptocurrencies due to the tremendous interest in the new asset class.
With global adoption coming soon, more prominent financial institutions are accumulating crypto. Some might say that is because of the fear of missing out.
Others think that it is true because they believe in the underlying technology and see a formidable future. Luxury brands will soon join the crypto, NFTs, and metaverse bandwagon. The only question is when?