The British-Portuguese luxury fashion retailer Farfetch said it will accept crypto assets soon thanks to a partnership with the German crypto platform Lunu. Farfetch will accept seven different crypto assets including bitcoin, етериум, and binance coin, and the feature will be rolled out to select clients and then expanded to the general public.
Luxury House Farfetch Partners With Lunu and Plans to Accept 7 Different Crypto Assets for Payments
Luxury and high-end fashion houses are dipping their toes into the world of digital currencies and blockchain concepts like non-fungible tokens (NFTs). During the first week of May, the luxury fashion house Gucci обявено that its retail stores will accept crypto for goods and services. Now, the luxury fashion retailer Farfetch plans to accept crypto assets as the business has разкри to Market Watch that it has partnered with Lunu, a German-based crypto platform.
Farfetch will leverage Lunu’s point-of-sale infrastructure and according to the firm, the decision to accept crypto stemmed from Off-White stores in Milan, Paris, and London that have already been using Lunu’s technology. Farfetch will accept seven different crypto assets to start, and the beta testing of the feature will begin with whitelisted clientele. Later this year, Farfetch’s crypto acceptance will expand after the testing into the U.S., U.K., and Europe.
Sellers of luxury goods have been gravitating toward crypto during the last year. Например, both luxury auction houses Sotheby’s and Christie’s accept crypto assets for payments. Italian luxury brand Michele Franzese Moda разкри it will accept crypto assets this year, and Luxury watchmaker Franck Muller accepts crypto as well. Cryptocurrencies will also be accepted at Browns, the retail chain store owned by Farfetch.
The news about Farfetch accepting digital currencies for payments follows the crypto solutions company Ripple partnering with Lunu in order to enable luxury retailers to accept crypto assets. “For luxury retailers, it is vital to stay on top of the latest trends, and when it comes to payments the greatest innovation is coming from the evolving crypto scene,” Lunu’s Rajesh Madhaiyan, director of product, said on June 7. “Thanks to Lunu, these retailers get access to new, younger, more affluent audiences that are constantly growing in numbers.”
What do you think about Farfetch partnering with Lunu and accepting crypto asset payments in the coming months? Кажете ни какво мислите по този въпрос в раздела за коментари по-долу.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Stella McCartney fashion show photo by Shutterstock contributor sama_ja
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. krakow3d.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.