Luxure Global Citizen, a Mayfair-based concierge and rewards service for the ultra-wealthy, is launching its own cryptocurrency.
The organisation offers a cross between Nectar points for billionaires and lifestyle management services like Quintessentially.
The company states that subscribers can earn 5% cash back when they buy from partner organisations ranging from car companies including Lamborghini and Rolls Royce to watch and jewellery brands such as Piaget, Cartier and Patek Philippe.
The business said in September last year that it has over 750,000 customers who purchase goods worth over £1 billion per year from over 300 luxury brands.
For luxury watches, the firm says: “Members can enjoy the benefits of raising new special orders, priority access to exclusive items and get complimentary boutique appointment services”.
LGC first announced in September last year that it would be launching its own cryptocurrency that can be used to buy the next top end timepiece although the timing of that ICO has been thrown into doubt this month after LGC split from Populous World Ltd, which had been announced as the platform partner for its “LGC-Coins”.
In a statement this week, the group said it terminated its arrangement with Populous on February 1st 2018, and anybody who had secured LGC-Coins with Populous World prior to February should contact LGC directly.
“Luxure Global Citizen sympathises with those who have been affected by the unauthorised Populous World Ltd announcement of September 2017,” the statement reads. “As a result of this inconvenience, Luxure Global Citizen will offer all those affected our forthcoming “LGC-Coin” at the initial private sale in the coming weeks. This is a goodwill gesture from Luxure Global Citizen and the date of this private sale will be announced via email.”