Charles & Keith joins cryptocurrency and metaverse race

Homegrown fashion retailer Charles & Keith has launched cryptocurrency as a payment mode on its eCommerce site, ahead of the brand’s participation in the Metaverse Fashion Week hosted on Decentraland, a 3D virtual world browser-based platform. According to Charles & Keith, this initiative marks the brand’s first foray into digital currencies and will be rolled out in Singapore, US, Australia, Canada, Malaysia, UK and the EU during the initial launch phase in the first half of 2022.

This new offering caters to Charles & Keith's online customers who own cryptocurrency and are seeking additional channels where they can purchase goods and services using their investments. Customers with existing wallets will have to scan a QR code at checkout to make payment with their cryptocurrency. Accepted coins include popular digital currencies Bitcoin, Ethereum and Tether USDT. The brand has partnered with crypto payments platform TripleA for this offering. 

At the same time, fans can roam the digital grounds in Decentraland as avatars and discover Charles & Keith’s booth located within the marketplace, which remains open to the public in the metaverse until 14 April. The booth, decked in the brand's Spring floral print, features its candy-coloured Koa shoulder bag and tie-up Alex sandals. Avatars can also try on digital wearables akin to a physical store experience, with the option to click through to the digital website to purchase the physical products as well. 

Additionally, fans who take a screenshot of their avatar at the Charles & Keith booth and post it on Instagram or Twitter stand a chance to win a micro Koa bag, with 20 of them up for grabs. MARKETING-INTERACTIVE has reached out to Charles & Keith for comment.

The company is currently running its floral-themed Spring 2022 campaign featuring its first-ever global ambassador Krystal Jung, who is also a K-pop star. A celebration of hope and new beginnings, the Spring 2022 collection is an enticing evocation of a sun-drenched garden. Spritely colours and enthralling florals inspired by the season are captured against a pastel backdrop that allows the brand’s vibrant products to shine.

Charles & Keith joins a slew of retail and luxury brands that have made their foray into the metaverse. Last month, luxury fashion house Gucci doubled down on its commitment to the metaverse by purchasing an undisclosed amount of virtual land on The Sandbox, according to Vogue. According to a tweet from Gucci, the virtual world will feature its "Gucci Vault" platform, which is an umbrella for fashion house's metaverse-related projects. Gucci Vault is an experimental online space created by the luxury brand from the vision of the creative director, Alessandro Michele. The vault is also where the luxury house sells its recent NFT collection and vintage pieces.

Meanwhile, last December saw fashion company Ralph Lauren dip its toes in the metaverse scene with the launch of "The Ralph Lauren Winter Escape" with Roblox. The experience features an exclusive collection of gender-neutral clothing and limited-edition items. According to Roblox then, this is a first-of-its-kind holiday-themed experience that allows fashion fans to explore the world of Ralph Lauren through the metaverse and build the company's commitment to digital innovation. The experience was developed in collaboration with a Roblox community developer, Funomena, a creative game design and development studio bringing unique and innovative experiences to life on the platform. 

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