Today I found out you can buy luxury products using your favorite crypto currency. The platform is called KNXT Boutique. It is run by the Kering group and features their esteemed brands: Alexander McQueen, Balenciaga, Bottega Veneta, and Gucci. You can create an account and link your wallet, or just use a regular credit or debit card if you insist on living in the past.
Of course, there is a major difference in the presentation on this site in comparison to the luxury retail sites. The blue background is likely a nod to the metaverse, in contrast to the sleek white pages used on the brand sites. In addition, it has a much tighter returns window (7 days) in comparison to the more typical 30 days. They also don’t feature the newest seasons and only display a limited selection across the included brands for sale.
This is a major way for luxury to finally tap into and profit from the blockchain and find a way to tap into a very particular set of consumers. On the other side of it, this is a great way for people to be able to use up that cryptocurrency they have on real goods that will be shipped to their homes. But if you are still operating using purely legal tender, it would probably be best to continue visiting the regular e-commerce sites.
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