In recent years crypto payments have begun to be accepted by the most exceptional hot couture brand known for their extraordinary and infamous collections, especially BTC and ETH. Crypto is recognized online at Balenciaga’s popular stores and brand site in Los Angeles, New York.
While not sure of what to do next and if this decision is taken keeping in mind holding the latest fashion event in New York and thus use fake bankrolls as invitations- for attendees, or one can not increase the boundaries of fashion to a new level without using Crypto, while Balenciaga has already joined the elite company of pro-crypto brands in its innovations.
Although it’s still unclear what approach towards the solution the fashion house will choose to make crypto payments, to this moment the brand is certainly considering pursuing crypto in its long-term plans and they have not abandoned the idea even after the record decline in BTC prices.
Frederick Arnault, CEO who personally owns NFTs and other Web3 assets, commented that cryptocurrencies have the potential to change the whole way the fashion industry works and functions. Speaking to Vogue Business regarding the announcement, Arnault said that:
We have been following the cryptocurrency developments very closely since Bitcoin first started trading. As an avant-garde watchmaker with an innovative mindset, we know that shortly, despite the ups and downs, Tag Heuer will embrace the promise of comprehensive technology worldwide and beyond.
Various popular physical flagship stores on Rodeo Drive, Beverly Hills, and Madison Avenue in New York, will start accepting BTC and ETH payments at their local stores, while US-based customers can pay using crypto on the brand’s respective official websites.
The brand that waited for colleagues and competitors in the luxury world to introduce crypto into their operations seems to have now chosen exactly the right strategy and instantly exemplifies what works, what is refined, and what is not worth using. The last point in particular resonated with the recent hack of the famous NFT artist Beeple Twitter account in the run-up to his collaboration with Louis Vuitton, which resulted in the theft of approximately $440,000.
While looking forward to the invitations to Balenciaga’s next show, we are expecting models wearing laser eyes and hard wallets in the show.