Luxury brand Balenciaga is a member of the criptocurrency club. The fashion company's CEO Cedric Charbit announced that some Balenciaga stores in the US would accept Bitcoin BTC and Ether ETH payments starting in June.
The fashion house's establishments on Madison Avenue in New York and Rodeo Drive in Beverly Hills will accept cryptocurrencies payments.
Balenciaga's creative director, Demna Gvasalia, said on Instagram that the brand would also accept cryptocurrencies for website transactions.
The NFT collection was dedicated to the memory of Cristobal Balenciaga, who founded the firm in 1919, which was later bought over by French luxury major Kering.
In December of last year, Balenciaga had also announced a metaverse business unit.
The Paris-based fashion house isn't the only luxury brand that accepts payments via criptocurrency. TAG Heuer, Gucci, Off White, and many others announced recently that they would be accepting payments for cryptocurrencies.
The widespread adoption of cryptocurrencies by luxury brands could have a domino effect, leading to adoption of cryptocurrencies among other sectors as well.