🏎️Why Ferrari’s Crypto Expansion in Europe Sets a Trend for Luxury Brands🏎️

Ferrari said it will extend its scheme to accept crypto payments for its luxury sports cars to its European dealer network from the end of this month. It follows an initial launch in the US last year.💲

By the end of 2024, the Italian automaker plans to expand this scheme further. This will include other dealerships in its international network, in countries where crypto is legally allowed.🌐

🛍️Using Crypto to Attract Image-Conscious Consumers🛍️

Consumers often select products that mirror their identity, values, and goals — a concept central to advertising theory.🎯

According to Vijay Pravin Maharajan, CEO at bitsCrunch, Ferrari can leverage crypto adoption to connect with a demographic of wealthy, technologically adept individuals who embrace cutting-edge financial solutions.🔗

✨Luxury Brands Expected to Embrace Crypto to Woo Younger Customers✨

Erik LaPaglia, Propy’s chief strategy officer, believes that prestigious global brands should capitalize on the potential of digital currencies by incorporating them into their business operations.👨‍💼

“Not only will it raise its stature with a younger and more diverse customer base than it currently might engender otherwise, it also allows for optionality down the road,” he said.🗽

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