Bitcoin (BTC) and other cryptocurrencies are increasingly accepted as a means of payment by more and more parties. Now it is the well-known clothing brand Ralph Lauren who has announced that it will accept crypto in a new store in Miami. This will therefore be the clothing brand’s first store where crypto payments will be possible.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.
In partnership with @BitPaycustomers 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
Pay with BTC, ETH or DOGE
To enable payments with digital assets, it has previously teamed up with crypto payment provider BitPay. Customers can pay for all of the brand’s distinctive styles directly from their preferred wallet. Refunds will also be issued in the same cryptocurrency used for the purchase.
In addition to bitcoin, customers can also pay with ethereum (ETH), Polygon (MATIC), dogecoin (DOGE) and Shiba Inu (SHIB), among others.
Miami has been at the forefront of Bitcoin adoption for some time now, with the Bitcoin 2021 conference in Miami, Bitcoin 2022 in Miami Beach and this year it will once again return to Miami beach. Miami was also named as one of the top five US cities for Bitcoin enthusiasts, citing the events and day-to-day uses for Bitcoin, which Ralph Lauren will now be contributing to.
Ralph Lauren comes with its own NFT collection
The new Miami store will also be part of a larger move into the Web3 world. It also works together with the Web3 community Poolsuite to release a non-fungible token (NFT) that will be given to existing holders of the Pool suite NFT membership collection. Members will have exclusive access to a ”special event” and can use their ”LeisureistUpdate ” avatars with digital wearables from Ralph Lauren.
The brand is slated to host an immersive three-day experience at a private estate in North Miami in late April to coincide with the store’s opening.
The chief innovation and branding officer of Ralph lauren, David Lauren, said the following about Web3’s exploration in an interview with WWD:
“This store will be an opportunity for us as a brand to gather important insights as we continue to explore the space. We are in the early stages of our roadmap, but we see an exciting opportunity ahead in digital goods and virtual experiences to build on our previous touchpoints in the metaverse.”