Luxury Brand TAG Heuer started Accepting Crypto
While the crypto market is bearish and we can see the bitcoin price below the $30k mark but dring this time we see lots of good news in crypto. More of it is related to adoption and its really good. Real estate, aviation industry, and luxury brands are showing interest in crypto and recently Gucci announced crypto acceptance. Other than this Emirates also announced their entry in crypto and they will also launch their NFTs which is another great news. More details are yet to get unfolded but hopefully, we will have it soon and this will help us know how the crypto use case in our real-life makes things easy and convenient.
TAG Heuer is a luxury watch brand and they have started accepting crypto payments for online purchases in the US. This is great news because this is live on their website and even now anyone can buy the watches by paying through crypto. While the crypto payments are live, the brand also has the plan to enter web 3 along with the usage of blockchain and NFTs. So if we see the list of supported coins then we can find all the leading coins including some stale coins as well. Looks like they are also aware of the value of stable coins these days but UST is not in the list.
> Accepted coins include many you likely know (even if you've been actively avoiding the crypto scene) like Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), and several stable coins that are pinned to the USD – including USDP, BUSD, DAI, USDC, and GUSD. The functionality is being supported via a partnership with BitPay, a well-known app for buying and selling a variety of cryptocurrencies.
I checked their website to see how the options are displayed and added along with other payment options including cards and Paypal. Its good that many luxury brands are coming to crypto and with this, we can expect an increase in demand. The Crypto market is based on supply and demand so if we have more demand then we can expect the prices to grow and with the entry of such a reputed brand, we can even expect more names to come.
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Its interesting to see that crypto adoption is growing even in a bear market and I believe that its because they have realized the potential of this new money. Many countries are taking time to decide if they should enter or not but others are not and at least with such names entry we can say the same. This bear market is not good to sell anything instead its the time to build so this type of news is going to play an important role in onboarding more investors in the crypto space.
Thanks for reading.