Tiffany and Gucci’s Cryptocurrency Dive is a Balance of Reputation and Income

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Cryptocurrency integrations well-known brands and sports teams indicate an increase in the use of digital assets and cryptocurrencies – or is it more of a marketing ploy?

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This week, Tiffany & Co., Gucci and FC Barcelona delved into the cryptosphere through partnerships in the world of digital assets. Tiffany launched NFTiffs He will sell 250 NFTs for about 30 Ether, about $50,000, to CryptoPunk holders who can redeem custom pendants in the style of their CryptoPunk NFTs.

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Meanwhile Gucci started taking ApeCoin, NFT-linked token Bored Ape Yacht Club and FC Barcelona announced 100 million euros investments from the Socios.com fan engagement app. The Football League has partnered with Socios.com since February 2020 when it launched a FC Barcelona fan token called BAR, but the investment will add to its web3 plans.

“The financial benefits of creating new revenue streams and channels for culture are clear, regardless of market conditions, but the brands that get this kind of attention don’t want to risk their brand value and reputation,” John Woo, president of Ava Labs, told TechCrunch. “It is safe to assume that the strategy for these initiatives has been widely discussed and approved by senior management.”

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Credit: techcrunch.com /

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