Luxury designer Philipp Plein has recently launched a groundbreaking “crypto concept store” at his flagship location on Old Bond Street in London. The store, which is set to expand to other locations in the near future, is accepting payments in 25 different cryptocurrencies, signaling Plein’s belief in the future of crypto as a valuable form of currency within the fashion industry. Surprised by the widespread adoption of cryptocurrencies, Plein is eager to explore how accepting crypto can significantly boost his business’s online retail turnover.

To accommodate the volatile nature of cryptocurrency values, Plein’s store utilizes QR codes instead of traditional price tags. By scanning the QR codes with their mobile devices, customers can access product images and prices in various currencies, ensuring a seamless and user-friendly shopping experience. Plein intends to implement this QR code system in over 100 stores in the coming weeks, further revolutionizing the luxury retail space.

However, Plein’s “crypto store” concept surpasses the notion of merely accepting cryptocurrency as payment. Visitors to the store can explore The M.O.N.A. (Museum of NFT Art) located on the upper level, which is hailed as the world’s first physical art gallery of the metaverse. Here, a mega screen projects Plein Plaza, a virtual land in Decentraland that Plein purchased for a staggering $1.4 million. Additionally, the store features its own NFT marketplace, where customers have the opportunity to purchase digital art, participate in auctions, and directly engage with artists.

Plein aims to make the NFT experience accessible and enjoyable for consumers. He plans to link physical products with NFTs, so when customers purchase an item in the store, they automatically receive an NFT as well. Plein views NFTs as collectible works of art, and even offers picture frames in various sizes for customers to display their digital artwork at home.

In a further display of innovation, Philipp Plein is launching an exclusive NFT video game for a limited time. Players can immerse themselves in an arcade treasure hunt-style game and collect exclusive NFTs, with the chance to win a real diamond gift.

Plein firmly believes that the metaverse will have a profound impact on the world and consumer products in the years to come. He envisions a future where a virtual world coexists alongside the physical one, and he aims to position himself at the forefront of this transformative shift in the fashion industry.

Overall, Philipp Plein’s crypto concept store and NFT platform exemplify the brand’s forward-thinking approach to merging luxury fashion with emerging technologies. By embracing cryptocurrencies and NFTs, Plein aims to create a truly distinctive shopping experience for his customers, while remaining at the forefront of the ever-evolving digital landscape.

Please find two relevant links below for further information on this topic:

1. Philip Plein Crypto Concept Store
2. Philip Plein NFT Video Game