Tiffany and Gucci’s dip into crypto is a balance of reputation and revenue

Is there evidence of increased use cases for digital assets and Cryptocurrencies by brands and sports teams?

Tiffany & Co., Gucci and FC Barcelona all have partnerships with digital asset companies. Tiffany will sell 250 NFTs for about 30 ether, around $50,000, to CryptoPunks holders, who will be able to redeem custom pendants in the style of their Nft.

A $100 million euro investment from fan engagement app Socios.com was announced by FC Barcelona. The soccer league has collaborated with Socios.com since February 2020, when it launched FC Barcelona's fan token, called BAR.

Even though the financial upside of creating new revenue streams and channels for culture is clear, brands that command this level of attention aren't keen to risk their brand value and reputation. The strategy for these initiatives have been approved by the most senior leadership.