Along with Netflix releasing its new documentary about the mysterious death of a ‘Crypto King’ last week, lots was going on in the crypto space – and this time, it involved the fashion industry. From an April Fool’s joke turned physical reality, to the news that Off-White will be accepting payment in cryptocurrency, here’s your whistle-stop guide to what went down in crypto last week.
Despite many thinking it was little more than an April Fool’s joke, Tiffany & Co. recently announced the creation of the TiffCoin – an 18k yellow gold coin, branded with the Tiffany logo. Despite semi-resembling a shiny £1, these limited coins will set you back $9999, and there are only 499 in circulation. Bringing the crypto TiffCoin into a physical reality, the label paid homage to a historical currency it used from 1973 to 2007 – in which a silver or gold coin could be used to buy its jewellery. Catch the limited TiffCoin on their website.
Elsewhere in the U.S, the Department of Justice just seized around $34 million worth of cryptocurrency from a dark web seller- making this one of the largest operations of its kind in the history of the U.S. Making a fake profile to set up hundreds of thousands of illicit sales across the dark web, the offender deposited the proceeds into various crypto wallets, adding up to millions.
In other crypto-related news, Off-White has just announced that it will be accepting payment in cryptocurrency. With plans to set this method of payment up in the brand’s London, Milan and Paris stores, there is set to be no payment limit. Evolving further into digital endeavours, the brand stated that this move will be an “important step” in its growth, as Off-White “looks towards the future including Web 3.0 technologies, understanding the needs and desires of its ever evolving customer base.”
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