Earlier, Breitling became the first luxury watch brand to extend digital blockchain technology to all of its products. In particular, the company started offering a digital passport secured by the Arianee protocol with all of its watches.
The fashion industry is expanding its adoption of crypto, with more luxury brands getting involved in blockchain-related activities and participating in crypto projects. One of the latest examples of this adoption is Breitling, a Swiss luxury watchmaker, that announced accepting Bitcoin (BTC), Shiba Inu (SHIB), and other cryptos as a payment method. Its customers can now pay in crypto through the crypto payments processor BitPay.
Luxury watch brand, @Breitling now accepts crypto! Welcome to #BitPay, we are excited to partner with you to bring new payment options to your customers.
Shop now: https://t.co/rA0JAWLwyV #crypto #cryptopayments pic.twitter.com/tXJ2fGnRsp— BitPay (@BitPay) June 28, 2022
Apart from Bitcoin and Shiba Inu, BitPay also supports Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), and the five USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP), which means that Breitling customers can use these currencies to pay for purchases as well.
Breitling is a Switzerland-based watch producer, the 15th most recognizable Swiss watch brand in the world, well-renowned for its pilot’s watches and chronographs. In October 2020, Breitling became the first luxury watch brand to extend digital blockchain technology to all of its products. In particular, the company started offering a digital passport secured by the Arianee protocol with all of its watches. The passport allows owners to prove the authenticity of their products and the legitimacy of their ownership. It contains every detail of the owner’s watch, including its serial number, and the product is time-stamped with the activation date of its digital warranty and its purchase.
Other Brands Embracing Blockchain
Other luxury brands are adopting blockchain developments as well. Gucci, Balenciaga, as well as watchmakers like TaG Heuer and Hublot, have added Bitcoin as a payment option. Notably, they started accepting cryptos through BitPay platform. For example, Hublot decided to start slowly, with the release of a limited-edition collection of 200 Big Bang Unico watches. In order to secure the purchase of the watch from this collection, customers will be paying around $21,800 or slightly more than the current price of 1 BTC.
Another example is Balenciaga whose establishments on Madison Avenue in New York and Rodeo Drive in Beverly Hills started accepting cryptocurrency payments in May. The company hopes to expand to other regions and e-commerce sites, with its crypto-initiatives being a part of a long-term development strategy. Earlier, in 2021, the company revealed its plans to build a metaverse business unit.
Similarly, luxury jewelry reseller SFLMaven, as well as the Continental Diamond jewelry store also announced they would offer an option to pay in BTC.
Other fashion brands that have shown interest in blockchain include Louis Vuitton, Nike, Burberry, Givenchy, JW Anderson, Tommy Hilfiger, Dolce and Gabbana, and Dior.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.
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