Premium British department store Harvey Nichols has launched an NFT retail space in its Pacific Place store in Hong Kong. The new concept is dubbed the ‘HN NFT Vault,’ and will essentially serve as a physical NFT marketplace where customers can conveniently browse, purchase, and even sell NFTs via swift and secure transactions.
On brand with the store’s luxury appeal, the concept exclusively caters to NFTs of the blue chip variety, meaning only assets from collections such as CryptoPunks, Bored Ape Yacht Club, CloneX x Takashi Murakami, Azuki and Doodles collections are likely to be on display.
With this in mind, the prices of the digital assets on offer in the store range from HK$5,000 (US$637) to more than HK$1 million (US$127,490), meaning a casual hit of retail therapy most probably won’t be on the cards for many of its visitors.
That being said, for those with the financial backing to make a novel purchase in the store, they can do so via cryptocurrency or a credit card, and can also store their digital purchases in a cold wallet. In addition, customers will also be able to create and purchase apparel based on their NFTs.
In wake of its launch on Wednesday, a spokesperson from the global fashion retailer had this to say: “Through the new space, Harvey Nichols aims to make NFTs more accessible to a broader audience by featuring a range of NFTs from some of the most successful projects globally available for in-store exploration and purchase”.
To extend upon the first-of-its-kind concept, the company may also be launching a service which allows NFT homeowners to showcase and promote their NFTs via the HN NFT Vault. However, only NFTs from respected initiatives will likely be accepted in the project, as the HN NFT Vault has employed a rigid vetting policy when deciding which NFTs are worthy of being showcased.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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