The UK-based fashion store Harvey Nichols just opened a brick-and-mortar NFT shop in Hong Kong. Situated in the Pacific Place shopping complex, Harvey Nichols’ new NFT store will focus on selling the most distinguished NFT collections.
Indeed, the only NFTs allowed in the “HN NFT Vault” must have an undisputed “blue-chip” status. According to Harvey Nichols’ website, the NFTs that meet its high expectations include the following:
- The Bored Ape Yacht Club
- RTFKT MNLTH
- Clone X
Leaders at the London-based department store said anyone who holds an NFT in these collections could sell it in the “HN NFT Vault.” If a visiting customer likes an NFT on display, they could buy it on the spot with crypto or a credit card. Harvey Nichols also said customers could instantly transfer their new NFT to a hardware crypto wallet.
Current reports suggest the prices for NFTs in “HN NFT Vault” start around $650 and go up to $130,000. Harvey Nichols wants to maintain a wide range of prices to attract as many potential NFT collectors.
Although Harvey Nichols isn’t the most aggressive fashion retailer in Web3, it has previous experience with NFTs. Most significantly, Harvey Nichols teamed up with RTFKT Studios in 2021 for a Clone X giveaway. Both UK and Hong Kong residents had the chance to win a Clone X NFT if they tweeted a selfie at a Harvey Nichols store or answered a Clone X-related question after buying an HN product.
NFT Shopping Is Getting More Convenient
Harvey Nichols’ Hong Kong store highlights a growing trend to make buying virtual collectibles more convenient for average customers. Many in the crypto space argue using fiat onramps could make it easier for more people to get involved in the NFT sector.
Despite the rapid growth in the NFT market, surveys suggest many shoppers aren’t comfortable using crypto to buy virtual collectibles. For instance, a recent UTA poll suggests about 6 percent of Americans now own an NFT. However, 38 percent of survey respondents want to own an NFT in the future.
To help these NFT-curious customers, more online NFT markets are opening up to non-crypto payments. For instance, OpenSea now accepts credit card transactions and Apple Pay. The new Coinbase NFT market also has a partnership with MasterCard to make buying NFTs easier for customers.
Although Harvey Nichols’ “HN NFT Vault” is the first known physical shop dedicated to virtual collectibles, there are other innovative IRL ways people could buy NFTs. For instance, Rarity Sniper recently reported on an NFT vending machine in NYC. Just steps away from the NYSE, this novel machine gives customers a QR code that they could use to redeem an NFT on the Neon app.
As more people want to get into Web3, pop-up NFT stores and vending machines may become a common sight.