The rise of cryptocurrency has been nothing short of a Cinderella story. The unlikely rise to prominence of crypto cash has seen an explosion in popularity over the past year as more people became aware of what exactly cryptocurrency is, and how convenient it can be to use across a variety of platforms and retailers. With Millenials leading the charge into the realm of cryptocurrency, it’s no wonder more high-profile businesses are taking note and taking advantage of the newfound love affair for the digital currency. Resorts World in Las Vegas has just announced their partnership with cryptocurrency exchange Gemini, and they’re not the only hotel expanding their reach on the digital market.
Resorts World Announces Partnership With Gemini
Thursday, Resorts World announced that they are moving forward in a partnership with cryptocurrency exchange Gemini. Resorts World’s integrated and tech-forward property provides visitors ample opportunities to connect with their digital wallet to enhance their stay.
Resorts World hopes this team-up will make their property the most crypto-friendly property on the Vegas strip. Gemini users can navigate the resort with confidence in the security and convenience that only their Gemini wallet can provide.
The press release announcing the partnership shares, “‘As the first ground-up resort development on the Strip in more than a decade, Resorts World Las Vegas is committed to integrating innovative technology conveniences across the resort to enhance the overall guest journey,’ said Scott Sibella, President of Resorts World Las Vegas. ‘By partnering with Gemini, a leader in cryptocurrency exchange, we are taking another step toward providing progressive guest experience solutions for today’s Las Vegas traveler.’
‘We are incredibly excited to work with Resorts World Las Vegas, the first casino on the Las Vegas Strip to partner with a crypto platform and explore integrating crypto into their guest experience. Whether it’s the ability for their customers to use cryptocurrency at Resorts World Las Vegas or convert dollars into crypto, being one of the first to support crypto is a great way to meet the needs of the next generation of customers and provide a 21st century experience,’ said Tyler Winklevoss, CEO of Gemini.”
Other Hotels Have Capitalized on the Crypto-Craze
While Resorts World may be the biggest property to provide this partnership, they’re not the first. One of the first hotels to team-up with a cryptocurrency was actually The Bobby Hotel, in Nashville. Widely accepted as one of the first independent properties to accept cryptocurrency, the Bobby Hotel partnered with Bitpay, the largest digital currency provider. Guests of Bobby Hotel can use Bitcoin, Ethereum, Dogecoin, and stable coins for their reservation and stay in Nashville. The tech uses QR codes to access the digital wallet, streamlining the connection.
And Kessler Collection, one of the country’s premiere hotel chains, has also recently partnered with a crypto provider. The first luxury chain in the world to do so, all eight hotels in the chain will accept the Bitpay exchange.
Forbes shares, “‘This is one of the most innovative concepts in the hospitality industry right now,’ said Richard Kessler, chairman and CEO of The Kessler Collection. ‘I believe cryptocurrency is only going to gain acceptance, and partnering with BitPay allows us to offer more choices in the payment process.’ With locations from Savannah to St. Augustine and Beaver Creek to Charlotte, in lieu of cash or credit cards, each property will send an email invoice allowing all guests to pay from their crypto wallet through BitPay. Customers will be able to pay in BTC, BCH, ETH, DOGE, and stable coins USDC, BUSD, GUSD, and PAX.”
Sotheby’s To Accept CryptoCash for Upcoming Banksy Sale
It’s not just hotels making the leap into digital currency. Other luxury services and businesses are expanding into the crypto world. World-renowned art auction house Sotheby’s recently announced plans to accept cryptocurrency. And the sale they’re starting the process over? It’s none other than famed Banksy piece, “Love is in the air.”
CNBC shares, “It represents the first time a major auction house will accept the two cryptocurrencies as payment for a physical piece of art, according to Sotheby’s. The winning bidder can also pay in U.S. dollars.
‘What better combination to introduce crypto than an iconic Banksy painting,’ Sotheby’s CEO Charles Stewart said Tuesday on CNBC’s Squawk Box.
Sotheby’s latest entrance into the world of digital assets is being done through a partnership with the cryptocurrency exchange Coinbase, which went public in April. Sotheby’s first jaunt came last month, when the auction house sold nonfungible tokens, or NFTs, created by the digital artist Pak.”
In recent months, cryptocurrency has really begun to shine. After Elon Musk goaded day traders into investing big over Dogecoin, even non-market-savvy people began paying attention to the digital market. As Dogecoin and Ethereum continue their rise in value, and Bitcoin dips slightly, more and more people are getting on board with the kind of cash that can grow – and can be used across a wide variety of platforms and retailers. Now with luxury hotels like Resorts World and the Kessler properties including cryptocash, and even Sotheby’s making a foray into the world of digital wallets, it’s clear that the future is going to include far less cold hard cash, and far more cold coded cash.