article thumbnail

FARFETCH Joins Gucci and Other Luxury Brands in Accepting Crypto Payments

Retail TouchPoints

Luxury platform FARFETCH will accept cryptocurrency payments for all purchases on the FARFETCH Marketplace, with plans to expand to FARFETCH Private Clients in the coming months and to all customers in the U.S., UK and Europe by late 2022.

article thumbnail

Why 2022 Will Be a Big Coming Out Party for NFTs

Retail TouchPoints

And 2022 is shaping up to be a big coming out party for NFTs for marketers. These NFTs also allow brands to create virtual communities populated by the consumers who own them. As a result, more consumers will start to understand what NFTs are. Now we are moving into a new phase: NFT Utility. Here’s how and why exactly.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cryptocurrency Regulations In The United Kingdom – A Guide To Follow

365 Retail

In essence, Cryptocurrency isn’t really considered to be a legal tender model in the UK. As per CNBC, the UK administration has announced a plan to mint their own NFT recently in April, 2022. Critically, your company will have to comply with CFT/AML reporting and consumer protection obligations as well.

article thumbnail

Ecommerce Check-In: Has 2022 Shaped Up the Way We Predicted? 

Retail TouchPoints

At the end of 2021, the editors of Retail TouchPoints took a stab at predicting what would happen in ecommerce in 2022. 2022 certainly isn’t turning out how anyone thought it would. 2022 certainly isn’t turning out how anyone thought it would. Not to toot our own horn, but we hit the nail on the head with this one.

eCommerce 302
article thumbnail

4 Ways Retailers Can Add Crypto Successfully

Retail TouchPoints

Many people in finance and retail considered 2021 the “year of the cryptocurrency.” While the NYC payroll department likely cannot do that, it signals the mayor’s intentions to encourage cryptocurrency adoption. These machines function the same as traditional ATMs, with the extra capability of purchasing and storing cryptocurrencies.

article thumbnail

As Gen Z Gains Spending Power, Luxury Brands Go Big with Digital  

Retail TouchPoints

As younger consumers gain greater spending power, once notoriously inaccessible brands are now expanding from exclusive boutiques into virtual worlds and experiences. During its July 26, 2022 earnings release, LVMH reported revenue of approximately $37.3 Customers’ cryptocurrency wallets are accessible simply by scanning a QR code.

article thumbnail

GameStop Lays Off Additional Workers, Cuts Crypto Exposure Following Weak Q3

Retail TouchPoints

While the scale of the layoffs is unknown, the cuts are reportedly having a greater impact on the cryptocurrency side of the business, where at least six software engineers have said they were let go, according to Axios. These factors weighed heavily on GameStop’s results for Q3 2022, which ended Oct. in Q2 2022. year-over-year.