TL;DR Breakdown
- For a long time, crypto has been considered as an asset class that one should hold.
- But, this year, new schemes have come up for the use of crypto as a payment currency.
- Big brands like Starbuck, Visa while small beauty brands all gear up for crypto payment acceptance.
Bitcoin might be the most prominent store of value among all the cryptocurrencies that exist in the current crypto market. Various organizations are considering using Bitcoin and other cryptocurrencies for crypto payments.
A recent survey reported that a whopping 46 million people in the USA are considering using cryptocurrencies to pay for common items and groceries for daily use.
Many merchants and businesses seek to enter the crypto space and accept cryptocurrencies as payments for their products and services. While huge giants like Starbucks have mentioned Bitcoin in their datasheet, small-scale women-centric brands have gained popularity for accepting crypto payments.
Crypto payment adoption rises manifold
Visa has revealed in its report that as much as 1 billion USD was exchanged using cards that allowed the spending of cryptocurrencies. Such optimistic statistics have led to an increase in the number of businesses accepting crypto payments.
Glamnetic, a huge name in the beauty industry, provides magnetic eyelashes to its customers. The company has already partnered with BitPay, one of the leading crypto exchanges, and therefore, it became one of the first women-centric beauty brands to accept crypto payment in the form of Ether, Doge, or even Bitcoin.
Ann McFerran claims that the crypto space has great potential, but the only problem is that the presence of males highly dominates it. Therefore, she took the step to claim the land. She has been sitting on the sidelines as an investor since 2017 and decided to do something about it.
The beauty industry will surely not remain in the hands of the few and eventually reach the global beauty landscape following Glamnetic. It can be said that the integration of crypto payments with beauty brands is beginning, and a lot of potential opportunities await for women-centric brands in the industry.
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