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Luxury Brands Gucci, Tiffany Dive Into NFTs Despite Slump

  • Crypto downturn hasn’t dissuaded brands from digital tokens
  • Firms still see NFTs as promising for customer engagement

Even the cold winds of a crypto winter can’t keep luxury brands away from nonfungible tokens.  

Kering SA’s Gucci and LVMH’s Tiffany & Co. this week added to the throng of high-end brands diving further into the cryptosphere, launching NFT-related projects. For Gucci, it’s adding another crypto to the wheelhouse of currencies it accepts as payment, while Tiffany will use NFTs as a digital passport to make custom physical jewelry for crypto aficionados.