Online Luxury Retailer myGemma Accepts Bitcoin (BTC) and Ethereum (ETH) Payments For Its Designer Fashion Products.
A number of top brands accepting Bitcoin and Ethereum payments soar.
myGemma, the luxury resale site, based in New York City, is the first in its industry to accept cryptocurrency as payment.
According to an announcement today, the move is imperative to expand the company’s client base to onboard cryptocurrency users, who have been looking for new ways to spend the digital currencies.
Andrew Brown, the CEO of myGemma stated that the luxury resale platform’s mission is deeply rooted in sustainability, with the company’s focus on keeping products out of landfills and giving them an extended life.
“So naturally we continue to listen to our customers and adopt new movements ahead of the curve. Crypto users are among the many constituents of luxury consumers. We want to cater to this growing consumer base as cryptocurrency becomes more mainstream,” Brown added.
In recent times, there has been a growing demand for several luxury brands to accept crypto payments, as the asset class becomes increasingly popular.
Firms that refuse to accept cryptocurrency payments lose many of their customers to their competitors who are quick to integrate the nascent asset class into payments.
Top luxury brands like Hublot are not prepared to lose their clients as they have added cryptocurrencies to their payment methods.
With Hublot accepting Bitcoin and Ethereum payments, myGemma noted that it is only natural that it joins the popular wristwatch developer.