Philipp Plein, a German luxury fashion house known for its flamboyant and garish style, has begun accepting a slew of digital assets in an apparent attempt to entice the crypto nouveau riche following a recent bull run.
Those looking to spend their crypto holdings on $6,500 sneakers now have a great opportunity. Among the supported cryptocurrencies are Bitcoin, Ethereum, Dogecoin, Litecoin, and Tether.
It collaborated with Coinfy, a crypto payments company that was recently acquired for $84 million by crypto broker Voyager Digital.
If the total value of the buyer’s orders exceeds 10,000 euros, the buyer will be required to provide their know-your-customer (KYC) information.
The “King of Bling” switches to cryptocurrency.
Philipp Plein, the controversial designer behind one of the world’s most recognizable fashion labels, recently took to Instagram to share the news with his 2.2 million followers and proclaim himself the “crypto king.”
Plein, who is not known for his humility, has emerged as the fashion world’s anti-hero with his brazen attitude and extravagant antics that tend to match his outfits.
Despite receiving a lot of flak for his rude behavior and tacky outfits, his polarizing fashion business was a huge success. Paris Hilton, Floyd Mayweather, Naomi Campbell, and others are among the many celebrities who have collaborated with Plein.
The “king of bling” now claims to be a cryptocurrency investor, and he, of course, believes that cryptocurrency is the future.
While Philipp Plein is the first major luxury brand to accept cryptocurrencies, a much larger competitor has already entered the market.
Gucci, the Italian fashion behemoth, began selling non-fungible tokens (NFTs) based on its spring collection in May.