Tiffany and Gucci’s dip into crypto is a steadiness of popularity and income – TechCrunch

Are crypto integrations by family identify manufacturers and sports activities groups proof of accelerating use instances for digital belongings and cryptocurrencies — or extra of a advertising ploy?

This week, Tiffany & Co., Gucci and FC Barcelona all dove deeper into the crypto sphere with partnerships within the digital asset world. Tiffany launched NFTiffs — it’ll promote 250 NFTs for about 30 ether, round $50,000, to CryptoPunks holders, who will be capable to redeem customized pendants within the fashion of their CryptoPunk NFT.

In the meantime, Gucci began accepting ApeCoin, the token related to Bored Ape Yacht Membership NFTs, and FC Barcelona introduced a $100 million euro funding from fan engagement app The soccer league has been collaborating with since February 2020, when it launched FC Barcelona’s fan token, referred to as BAR, however the funding will add to its web3-related plans.

“The monetary upside of making new income streams and channels for tradition are clear, no matter market circumstances, however manufacturers that command this stage of consideration aren’t eager to danger their model worth and popularity,” John Wu, president of Ava Labs, mentioned to TechCrunch. “It’s secure to imagine technique for these initiatives have been mentioned extensively and accredited by probably the most senior management.”

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