Ralph Lauren is taking a big step by adopting cryptocurrency and exploring the world of NFTs. The famous fashion brand has shared its plans to accept cryptocurrency payments at its new store in Miami’s Design District.
The move is the first time Ralph Lauren has included cryptocurrency as a payment method, and they join other brands such as Starbucks in taking the leap into the digital currency revolution.
In collaboration with BitPay, Ralph Lauren customers can now purchase merchandise using popular cryptocurrencies such as Bitcoin, Ethereum, and Polygon’s token (MATIC). By providing these alternative payment methods, Ralph Lauren is catering to tech-savvy consumers and staying ahead of the curve.
Exclusive NFTs and a Metaverse Fashion Statement
In addition to accepting cryptocurrency, Ralph Lauren is taking its digital step further by partnering with Web3 community Poolsuite to release a co-branded Ralph Lauren NFT.
This exclusive, limited-edition NFT will be gifted to existing Poolsuite NFT membership collection holders. The move offers these loyal customers new ways to engage with the brand.
Members who receive the Ralph Lauren NFT gain exclusive access to a special event and can modify their “Leisurist” avatars with digital Ralph Lauren wearables.
Immersive Experience and Future Plans
To celebrate the Miami store opening and the brand’s digital strides, Ralph Lauren plans an immersive three-day event at a private estate in North Miami at the end of April. The aim is to showcase the brand’s innovative spirit and commitment to providing memorable experiences for its customers.
In an interview, Ralph Lauren’s chief innovation and branding officer, David Lauren, shared that the brand sees immense opportunity in digital goods and virtual experiences. He emphasized that the Miami store will serve as an opportunity to gather critical insights as the brand continues exploring and expanding its digital presence.
Lauren told WWD, “We are in the early stages of our road map, but we see an exciting opportunity ahead across digital goods and virtual experiences to build upon our past touchpoints in the metaverse.”
Ralph Lauren’s foray into the world of cryptocurrency, NFTs, and digital fashion is a testament to their willingness to adapt and innovate. As the company continues experimenting with digital currencies, NFTs, and metaverse activations, it shows that Ralph Lauren is committed to staying relevant in an ever-evolving digital era.
