In 2023, there are more crypto millionaires than ever before, and despite market volatility and the scandals and dramatic price crashes that have punctuated the last year, it seems we still can’t get enough of Bitcoin, Ethereum and other up-and-coming alt coins.
As our digital fortunes continue to grow, so, too, does our demand for new and more diverse ways to spend it. Yes, it’s a long-term investment, but where’s the fun in owning assets you can’t splurge on lavish goods and experiences when the mood strikes and you have plenty to burn?
The good news is that as a result of our ever increasing appetite for crypto spending, there are now myriad ways to do just that, and from luxury getaways and high-end fashion to online entertainment, the luxury market is adapting to cater to the changing habits of its consumers.
So, if you’re in the mood for a spree, then look no further, as here are three ways you can splash the crypto cash on something extravagant now.
Online casinos came into their own during the pandemic, and although already popular amongst many players, the ongoing closures of land-based venues around the world as a result of lockdowns drove more players than ever to seek out a digital alternative. While pre-existing online offerings like CryptoBetting.com saw it as a reason to up their games, some of the biggest bricks-and-mortar operators also made the move online, which ultimately saw increased competition and better perks as they battled it out with one another to get or maintain the attention of the world’s biggest high rollers.
Accustomed to being spoiled with lavish gifts, free luxury suite stays and first class flights in exchange for their custom, it’s no small feat to keep big money players engaged, but some seem to have devised the perfect recipe. To keep them sweet, many online casinos have ramped up their VIP programmes to offer bigger bonuses and better perks – but one of the biggest changes to come out of it all was the move towards accepting deposits in cryptocurrencies like Bitcoin, allowing players to place eye-watering wagers in all manner of digital coins and potentially win some more in return.
The luxury fashion market has been one of the fastest in the luxury sphere to embrace cryptocurrency as a means of payment, with some of the biggest names in the fashion world now welcoming payments in a wide variety of digital coins as well as looking ahead to how they might fit into the Metaverse as it slowly but surely comes to fruition.
Gucci made headlines when it became the first major luxury women’s fashion brand to accept crypto as payment in store and online back in 2021, with customers initially able to pay for their goods in Bitcoin, Ethereum and several other major coins. And in May 2022, it was the first to reveal that it was now accepting ApeCoin, bringing the current total of accepted cryptocurrencies to 12.
Fashion designer Philipp Plein is another whose label has clearly been keen to stay one step ahead of the competition, having last year thrown open the doors to the world’s first ever ‘crypto concept store’ on London’s iconic Old Bond Street. Spread over three stores, the store merges physical and digital shopping in one space and customers can peruse intriguing exhibits comprising one-0f-a-kind NFTs of coveted garments and accessories that can of course, be purchased using various different cryptocurrencies.
Fancy jetting off on a lavish luxury getaway this year? Well now, you can cover the costs with your crypto fortune, as a host of high-end travel companies now accept payment in Bitcoin, Ethereum and a number of other digital coins,
UK-based online travel concierge Arburton offers complete lifestyle management services to elite clientele around the world and accepts a huge number of cryptocurrencies, providing comprehensive services to affluent, high-net-worth customers. And at high-end travel operator Destinia, you can use Bitcoin to book hotels, flights, or even your ski lift ticket and organise activities and attractions at many different locations to build a cohesive trip.
Even Expedia – which is easily one of the most popular travel websites for booking hotel rooms online today – has embraced the digital world more fully, and you can now book one of a plethora of lavish five-star hotels and flights to choose from, wherever in the world you fancy going. And Travala, which boasts more than two million options for affluent travellers and holidaymakers to choose from, will readily accept your Bitcoin or preferred alt coin, too.
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