Luxury Brands Gucci, Tiffany & Co. Dive Into NFTs Despite Slump

Even the cold winds of a crypto winter can’t keep luxury brands away from nonfungible tokens.

Kering SA’s Gucci and LVMH’s Tiffany & Co. this week added to the throng of high-end brands diving further into the cryptosphere, launching NFT-related projects. For Gucci, it’s adding another crypto to the wheelhouse of currencies it accepts as payment, while Tiffany will use NFTs as a digital passport to make custom physical jewelry for crypto aficionados.

The companies described these initiatives as “the future” and “yet another step” in their exploration of web3, a moniker given to next-generation internet ...