A total of 200 such watches have been made available exclusively on Hublot’s platform. Many such luxury brands have now adopted and embraced crypto payments.
Despite an overall fall in the cryptocurrency market, these brands have been quite positive about adopting Bitcoin as a payment option.
Recently, Tag Heuer, Gucci and Balenciaga have started to accept crypto payments. Some luxury brands are also in their limited testing phase of crypto payments.
Payment intermediaries such as BitPay, which is a renowned cryptocurrency infrastructure provider is facilitating these companies to enter the crypto space.
What’s even better is the companies need not have technical knowledge about the industry in order to start accepting Bitcoin or other crypto as a form of payment.
Customers Can Buy These Watches With Crypto Only On The US Hublot Website
The price of this limited edition watch ‘Big Bang Unico Grey’ is around 27,200 Euro. This means that in the United States, one watch will be available for $22,000. At the moment Bitcoin is priced at $20,400.
To purchase one of these watches, one has to pay a little over 1 BTC, going by the price of the digital asset at the moment. The Luxury Watchmaker, Hublot was founded in the year 1980 by Carlo Crocco. This company is owned by a French luxury corporation LVMH.
LVMH is a luxury goods conglomerate which had acquired Hublot in the year 2008. LVMH also owns the other Luxury watch brand Tag Heuer. It was only a matter of time till Hublot started to accept digital currency as payment, given that Tag Heuer recently did the same.
Related Reading | Now You Can Pay In Crypto And Buy A Tag Heuer Watch Online
Luxury Watch Brands And Their Plans To Enter The Web3 Space
As mentioned above, LVMH has Tag Heuer in their portfolio of luxury watch brands. In the same vein, Hublot also started to accept digital asset payments.
Tag Heuer recently added digital currency payment in partnership with BitPay. The brand will accept a total of 12 cryptocurrencies which include Bitcoin, Ethereum and even Dogecoin. Apart from these the brand has also decided to accept payment from other dollar-pegged stablecoins.
Tag Heuer had previously mentioned its plans of getting into the Web3 space. It meant that this would happen with a wider adoption of the blockchain technology that also included Non-Fungible Tokens. This would start from the acceptance of digital currency payments.
Tag Heuer stuck by its word. Now even Hublot has started to walk the same path of embracing digital currency payments. Tag Heuer also introduced a brand new feature which is concerned with NFTs. It has incorporated a feature specially for the smartwatch which shall allow users to display their collection of NFTs on their watches.
Related Reading | Tag Heuer Launched A New Feature, NFT Display On Watches
Featured image from Hublot, chart from TradingView.com