Ralph Lauren, the iconic fashion brand, is making a bold move by embracing cryptocurrency and exploring the world of NFTs. The company has announced plans to accept cryptocurrency payments at its new store located in Miami’s Design District, marking the first time that Ralph Lauren has incorporated cryptocurrency as a payment method. The move puts them alongside other notable brands like Starbucks that have already ventured into the digital currency revolution.
Accepting Cryptocurrency as Payment
In collaboration with BitPay, Ralph Lauren customers can now purchase merchandise using popular cryptocurrencies such as Bitcoin, Ethereum, and Polygon’s token (MATIC). By doing so, Ralph Lauren is catering to tech-savvy consumers and staying ahead of the curve.
Partnering with Web3 Community Poolsuite
In addition to accepting cryptocurrency, Ralph Lauren has taken another step towards digital innovation 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 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. This partnership is a clear indication that Ralph Lauren is ready to explore the world of NFTs and the possibilities they offer.
Immersive Experience and Future Plans
To celebrate the Miami store opening and the brand’s digital strides, Ralph Lauren is planning 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.
Ralph Lauren’s commitment to digital innovation is clear as they continue experimenting with digital currencies, NFTs, and metaverse activations. By doing so, the company is staying relevant in an ever-evolving digital era. Ralph Lauren’s foray into the world of cryptocurrency and NFTs is a testament to their willingness to adapt and innovate.
