Hublot adopts Bitcoin and other crypto payments
Swiss luxury watchmaker – Hublot – has partnered with bitcoin payment service provider BitPay to allow its customers to purchase 200 of its limited-edition watches in cryptocurrency.
The new limited edition luxury edition of the ‘Big Bang Unico Essential Grey’ watch collection can be purchased through BitPay.
The company stated, ‘Exclusively on our Hublot United States eBoutique, clients will be able to shop using select Cryptocurrencies with BitPay.’
The new watch is priced at US$ 21,200, which means that customers have to fork out the equivalent of 1 Bitcoin, just a little more than 1 BTC at the current market price.
The luxury watchmaker, Hublot was founded in the year 1980 by Carlo Crocco and is currently owned by a French luxury corporation LVMH, who acquired the watchmaker in 2008.
LVMH also acquired TAG Heuer, another luxury watch brand. Tag Heuer has already partnered with Bitpay to include 12 cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and five dollar-pegged stablecoins as viable payment options.
TAG Heuer has also unveiled an NFT-displaying smartwatch to allow users to flaunt their NFT collections, safely connect their wallets to the watch, which verifies the NFTs’ ownership. It also announced its intentions of venturing into the Web3 space and launching its own NFTs.
Despite the overall downturn of the crypto market, many luxury fashion brands are embracing cryptocurrency as a payment option, including Gucci, Farfetch and Balenciaga.