The American fashion brand Ralph Lauren will open a new store in Miami (Florida, USA) that will accept payments in digital assets.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.
In partnership with @BitPay, customers can make purchases with different cryptocurrencies including #Bitcoin, #Ethereum and #MATIC by @0xPolygonLabs and more. pic.twitter.com/YUHhsDRexB
— Ralph Lauren (@RalphLauren) April 4, 2023
The brand has signed a partnership with payment processor BitPay. The store will accept Bitcoin, Ethereum (ETH) and Polygon (MATIC).
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This initiative marks the first step in Ralph Lauren’s push into Web3. Over the course of the year, the company will host “a series of innovative and exciting events” dedicated to the crypto space.
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The store’s design also leans toward a more modern and digital aesthetic, with interactive screens that allow customers to browse the brand’s catalog and book virtual consultations with stylists.
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In addition, Ralph Lauren announced a multi-tier partnership with the Web3 community Poolsuite from Miami. All of its members will receive an exclusive NFT as a gift, which will unlock access to a joint offline event.
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Palm trees and eternal sunshine. Welcome to #RLxPoolsuite. For the first time, @RalphLauren celebrates Miami’s vibrant energy in collaboration with @Poolsuite #RLMiami pic.twitter.com/FdhZc1bzwe
— Ralph Lauren (@RalphLauren) April 4, 2023
Earlier, Gucci and Balenciaga added the ability to pay with cryptocurrencies in their flagship stores and on online platforms.
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In March, the French fashion house Balmain released 130 limited pairs of Unicorn sneakers and their NFT version.