Luxury brands embrace crypto + Trump courts crypto leaders + $150M for Web3 gaming 💎💻

It’s Wednesday, and Ripple’s RLUSD is here.

The dollar-backed stablecoin launched on major exchanges today, trading at a premium of $1.50 amid early supply shortages. Ripple plans to use RLUSD for cross-border payments with banks starting next year, while XRP surged 6% to $2.71 in 24 hours.

This is our last edition of the year—happy holidays! 🎄✨

Luxury brands are finally warming up to crypto

Bitcoin's wild surge past $107K has caught the eye of high-end fashion and retailers, with brands like Gucci, Balenciaga, and Printemps jumping on the crypto bandwagon. Printemps even teamed up with Binance and Lyzi to start accepting bitcoin and ethereum in France—making it Europe’s first department store to do so.

Why it’s a big deal: Luxury labels are banking on crypto payments to reel in the tech-savvy, crypto-rich crowd, especially as the industry struggles to woo younger buyers and navigate a post-pandemic slump.

What’s happening:

• Brands dabbling: S.T. Dupont is gearing up to accept crypto in its Paris stores, and Virgin Voyages now lets customers pay $120K for an annual cruise pass with bitcoin.

• Crypto flex: Balenciaga teamed up with crypto wallet company Ledger to create sleek accessories like a €350 leather holder for storing your bitcoin stash.

The bigger picture: Bitcoin's rise isn’t just about wealth—it’s about image. For brands that want to stay relevant, crypto payments are less about utility and more about signaling: We’re not your grandma’s luxury label.

Bottom line: Whether it’s a designer bag or a luxury watch, brands see crypto payments as a way to cash in on new digital wealth—and maybe, just maybe, look a little cooler while they’re at it.

Crypto.com CEO meets Trump as crypto industry eyes influence

Kris Marszalek, CEO of Crypto.com, joined the growing list of tech leaders flocking to Mar-a-Lago for a sit-down with President-elect Donald Trump. The meeting reportedly covered key crypto industry appointments and Trump’s plans for a national Bitcoin reserve.

Why it matters: The crypto world is eager to cozy up to Trump’s incoming administration, especially after his campaign promises to create a crypto-friendly environment.

What’s happening:

• Key appointments: Trump has already tapped crypto advocates like Howard Lutnick for commerce secretary and Paul Atkins to head the SEC, signaling a shift in how digital assets will be regulated.

• Crypto czar surprise: Venture capitalist David Sacks will advise on both crypto and AI, though the industry had lobbied for a dedicated “crypto czar.”

What they’re saying:

• Marszalek tweeted, “Honored to have a seat at the table,” signaling optimism for collaboration under the new administration.

• A Coinbase spokesperson echoed the sentiment, praising the administration’s openness to dialogue with the crypto community.

The bigger picture: Trump’s embrace of crypto, including his family’s decentralized finance project, World Liberty Financial, reflects a calculated effort to align with digital innovation. But the industry’s newfound proximity to power comes with scrutiny, especially as regulators like the SEC face pushback from platforms like Crypto.com and Coinbase.

What’s next: With Trump stacking his administration with crypto allies, the industry hopes to see clearer regulations and a more favorable climate for digital assets in the U.S.

Big Time Studios unveils $150M Open Loot Fund for Web3 gaming

Big Time Studios is betting big on the future of Web3 gaming, launching a $150 million Open Loot Fund to support game developers using its Open Loot platform. The fund aims to fuel the next generation of blockchain-powered games with financial backing, development tools, and marketing expertise.

Why it matters: Web3 gaming has faced criticism for prioritizing blockchain tech over actual gameplay. Big Time Studios wants to change that narrative by funding developers who put engaging gameplay first, with blockchain elements enhancing—not overshadowing—the player experience.

Key details:

• Open Loot Platform: Already home to 1.5M registered users, it offers developers tools to mint crypto assets, design in-game economies, and tap into an established audience.

• $OL Token: The platform’s token powers community growth, rewarding players and developers while driving nearly $500M in transaction volume.

• Targeted Support: The fund offers guidance in game design, sales strategy, marketplace optimization, marketing, and community-building to ensure sustainable growth.

Big Time’s track record:

Since 2020, the studio has:

• Raised $21M in funding.

• Sold $70M in NFTs.

• Reached $443M in marketplace volume with nearly 2M digital collectibles sold.

Its flagship title, Big Time, an action RPG, has set the stage for upcoming releases like World Shards and ShatterPoint, showcasing the platform's potential for high-quality, player-first games.

The bigger picture: As Web3 gaming matures, developers are shifting focus from speculative NFTs to creating compelling, immersive experiences. Big Time Studios is leading this charge with a fund that aims to set a new standard for blockchain-powered games.

Interested developers can apply to join the Open Loot ecosystem and take advantage of the $150 million fund.

WEB3 READS

Cointelegraph: Can this Web3 RPG become the ‘crypto Fortnite’?

CoinDesk: Why Web3 VCs are embracing Crypto+AI.