- An initiative by Hublot to enter WEB3 space.
- Balenciaga, Tag Heuer, and Gucci to mirror Hublot regarding Crypto payment.
- BitPay Collation with Hublot may increase regulation of Crypto and Bitcoin.
Hublot is a watch manufacturing company founded in 1980 by Carlo Crocco and is headquartered in Nyon, Switzerland. The company is owned by FLC (French Luxury corporation).
Hublot launched their limited edition watches in the market that can be purchased by making payments with cryptos. The name of these Premium and limited editions of watches is “Big Bang Unico Grey”.
A buyer can purchase these luxury Watches on the Hublot e-commerce platform, and payments will be accepted in the form of Crypto by the payment platform BitPay.
Hublot mentioned that Only 200 Premium and limited edition watches are available on Hublot’s platform.
According to the sources, many other Watch brands worldwide have started adopting Crypto and Bitcoin payments.
BitPay is taking the initiative and offering its Payment gateway to many brands to let them enter the Crypto market. It provides a facility to accept Crypto and other bitcoin payments.
Mirroring of Hublot’s by other world-famous brands
Other widely popular brands like Balenciaga, Tag Heuer, and Gucci have mirrored the idea of Crypto payment, Like Hublot has adopted.
An official statement from Hublot stated that these luxury watches could only be bought in the US with the official website of Hublot by making Crypto payments with renowned payment gateway BitPay.
The estimated price of the newly launched luxury watch of Hublot “ Big Bang Unico Grey” is nearly $ 22,000 in the US. And according to the current market price, one bitcoin is around $20,735 US dollars.
Many watch companies are planning to enter the Web3 space, and this decision to enter the web3 space will expand the use of blockchain technology and digital currency like crypto and many other NFTs.
Conclusion
An initiative by Hublot, a world-famous watch manufacturing company, regarding the adoption of payment in the form of Crypto and Bitcoin will help expand the regulation of Crypto and Bitcoin. And the Step taken by Hublot may be in a positive direction and will be an example for many other multinational brands to adopt a new kind of payment mode.
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Source: https://www.thecoinrepublic.com/2022/06/23/hublot-adopted-payment-like-crypto-and-bitcoin/