American luxury brand Ralph Lauren has said that customers can now pay with cryptocurrency at its Miami Design District location. The store has also been designated as the luxury brand’s focal point for Web3 promotions. Bitcoin, ethereum and polygon are among the cryptocurrencies accepted at the new Ralph Lauren store in Miami.
Focal point of Ralph Lauren Web3 promotions in the Miami store
American luxury brand Ralph Lauren said on April 5 that it will accept crypto payments at its new store in Miami. according to a statement Launched by Bitpay, Ralph Lauren customers can now pay at this store using BTC, ETHMATIC and twelve other cryptocurrencies.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.
In alliance with @BitPaycustomers can make purchases with different cryptocurrencies, including #Bitcoin, #ethereal and #MATIC by @0xPolygonLabs and more. pic.twitter.com/YUHhsDRexB
—Ralph Lauren (@RalphLauren) April 4, 2023
Explaining Ralph Lauren’s decision to accept crypto payments at the store located in the Miami Design District, the statement read:
This store provides customers with new ways to interact with the brand and shop, including accepting cryptocurrency as a method of payment. The Miami Design District location is the first Ralph Lauren retail store to accept cryptocurrency payments. Customers can pay for all of Ralph Lauren’s elevated looks directly from their preferred crypto wallets.
Meanwhile, in addition to accepting crypto payments, Ralph Lauren said it will implement an activation experience that uses non-fungible tokens (NFTs). Ralph Lauren has reportedly since designated the Miami store as its focal point for Web3 promotions.
David Lauren, the luxury brand’s chief innovation officer, said his company chose to accept crypto payments at the Miami store because “it’s one of the most Web3-friendly cities in the world and has a vibrant community of startups, brands and consumers from luxury. He also suggested that the company plans to open similar stores in Europe, North America and Asia.
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