STORY: This luxury fashion store lets you pay with crypto
Fashion designer Philipp Plein has opened a Crypto Concept Store
The store accepts more than 20 different digital currencies
It uses QR codes rather than price tags
because cryptocurrencies are so volatile and constantly changing
(SOUNDBITE) (English) PHILIPP PLEIN, FASHION DESIGNER, SAYING:
“So every 10 minutes we try to recalculate the price and update the exchange rate, which will help us to stay always on the right price for the consumer, OK? And that's very challenging. And we do that also in the store. Now, the idea was, how do you do that in a store? You go in a store and when you print a price on a tag right, this is the price tag. You cannot make it one bitcoin because tonight maybe it's going to be 1.2 bitcoins. So we have a QR code. You go with your phone, you scan it, and then very simple as it is, you see the price which it would cost you today in crypto right now, right here."
The store also includes a museum selling Plein’s NFT art collection