Cryptocurrencies are increasingly finding their way into everyday life. Now the German star designer Philipp Plein has announced that he will accept Bitcoin and 14 other cryptocurrencies as a means of payment with immediate effect - and is overwhelmed by the response.
"Rule number 1: Never be number 2".
For Philipp Plein, founder of Philipp Plein International Group with the brands Philipp Plein, Plein Sport and Billionaire, there is no doubt: "Cryptocurrencies are the future," says the 43-year-old fashion guru and founder of a multi-million dollar empire.
"I BELIEVE CRYPTOCURRENCIES ARE THE FUTURE, AND MY TEAM AND I HAVE INVESTED A LOT OF TIME AND RESOURCES TO MAKE ALL THE NECESSARY SYSTEM CHANGES TO LAUNCH THIS NEW TYPE OF CURRENCY. I AM VERY PLEASED THAT WE CAN OFFER OUR CUSTOMERS THIS ADDITIONAL MEANS OF PAYMENT AND THE FLEXIBILITY THAT COMES WITH IT."
In concrete terms, this means that customers can now pay with 15 cryptocurrencies, including Bitcoin, Ethereum and even the joke currency Dogecoin, among others. On Instagram, Plein calls himself the "crypto-king" and comments in the course of his crypto-adaptation: he is aiming for 100 million euros in sales this year. The Munich native:
"I AM A CRYPTO INVESTOR AND BELIEVE IN THE FUTURE OF CRYPTO - THAT'S WHY I DECIDED TO OFFER THIS PAYMENT METHOD IN MY STORES AND ONLINE ! !!! HAVE FUN PEOPLE."
"Am overwhelmed by the feedback"
Plein enthuses, saying the move to accept cryptocurrencies as a payment method has generated an overwhelming response so far. Plein writes to his more than 2.5 million Instagram followers:
"RULE NUMBER 1 - NEVER BE NUMBER 2. SINCE MONDAY WE ARE THE 1ST LUXURY FASHION HOUSE TO ACCEPT 15 DIFFERENT CRYPTOCURRENCIES AS AN OFFICIAL PAYMENT METHOD IN MY FASHION GROUP - I'M OVERWHELMED BY THE RESPONSE AND FEEDBACK WE'VE RECEIVED SINCE OUR LAUNCH."
The cryptocurrencies accepted so far are Bitcoin, Bitcoin Cash, BNB, Dogecoin, Ethereum, Litecoin, Nano, OmiseGo, Paxos Standard Token, Qtum, Tron, TrueUSD, USD Coin, Tether ERC-20 and even the controversial Bitcoin fork Bitcoin SV. To be able to offer crypto payments, Plein cooperates with the payment provider Coinify. If Plein customers decide to pay with cryptocurrencies, they are redirected to Coinify, where the purchase is then completed. For Plein, cryptocurrencies are a "game changer", as he writes.
Philipp Plein is thus the latest luxury brand to open up to the topic of cryptocurrencies and blockchain. More and more big brands, names and companies are integrating Bitcoin and Co. or intend to offer corresponding options in the future.
The Bitcoin price is currently flirting with $45,000 again. Source: Coinmarketcap.com
For example, the traditional auction house Sotheby's recently sold a type IIa diamond - for an undisclosed cryptocurrency worth $12 million. Burberry is also getting into the crypto business. The tradition-steeped designer brand is partnering with Mythical Games (the studio behind Blanko's Block Party) to offer branded in-game digital toys.
But that's not all: luxury watchmakers like Franck Muller and Hublot are also betting on cryptocurrencies like BTC and Co: both offer watches that can be bought exclusively with Bitcoin. Ricardo Guadalupe, CEO of Hublot, comments:
"THE LAUNCH WAS A SUCCESS. THE INTEREST WAS GREAT AND WE PRE-SOLD 210 WATCHES.
Guadalupe also emphasises that virtual currencies are the future.