More and more luxury companies are adopting cryptocurrencies. Farfetch, an online retail platform specializing in high-end clothing, has announced that it will accept payments in crypto-assets later this year.
Farfetch accepts cryptocurrencies
Farfetch, a luxury fashion retailer plans to accept cryptocurrencies by the end of the year. To do this, the company has partnered with Lunu, a Germany-based crypto platform.
The new feature will be rolled out to select customers and then rolled out to the general public. Initially, Farfetch will accept seven cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB).
The move follows the successful launch of cryptocurrency payments at Browns, a London-based boutique owned by Farfetch.
Jose Neves, Founder and CEO of Farfetch, said using cryptocurrency at Browns was a crucial step to test and learn.
Moreover, he has shown real enthusiasm for the use of cryptocurrencies for his many other shops. As a reminder, Farfetch operates an online marketplace similar to Amazon.com, with products from around 1,400 luxury brands.
Companies specializing in luxury and high-end fashion are throwing themselves headlong into the world of digital currencies and blockchain concepts like non-fungible tokens (NFTs). Recently, it was around the luxury fashion house Gucci to announce that it would accept cryptocurrencies for the purchase of goods and services.
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