Elevate Brands announced today its “Cash or Coin” acquisition program and integration with Coinbase Prime.
As per industry observations, Elevate Brands is always looking for ways to make its acquisition and operating processes more efficient. They announced today that they would be integrating with Coinbase Prime to receive payment in bitcoin or other cryptocurrencies. It should help them conserve money by not having upfront costs when acquiring products from the Amazon marketplace.
This innovative new strategy enables Elevate to capitalize on opportunities in the crypto space and offers investors unprecedented access.
Ryan Gnesin, CEO of Elevate Brand, said;
“We’re excited to be at the forefront of Amazon’s new digital age, and we believe that cash or coin will make it easier than ever for consumers who want access into cryptocurrencies”
He further added;
“Integrating with Coinbase Prime gives us an edge in bringing our brands closer towards achieving this goal.”
Nick Eary sold his company last year to Elevate. He will receive his bitcoin payouts next month. Sellers who get paid directly through the Coinbase Prime account benefit from lower fees or high volume limits and can access features not available on other platforms.
Nick said with excitement in an interview about Elevate’s first crypto payee:
“When I sold my business, I had planned to allocate some of the funds to bitcoin. The fact that I could be paid in crypto instantly through Elevate made investing a much simpler process.”
Elevate Offer Bitcoin Payouts For Referral Program
In a move that could be the start of many more crypto-based incentive programs, Elevate has recently introduced its new referral program. Anyone who refers a business to Amazon that they successfully acquire is eligible for up to $500K in cash or equivalent blockchain-based cryptocurrency (i.e., Bitcoin). Empowery ECommerce Cooperative received the first referral payout in Bitcoin.
Empowery founder Steve Simonson stated that Elevate’s Cash or Coin Program came at just in time. In his words, “Luckily we found the perfect way to learn more about cryptocurrency. We know it will be an exciting year, with many changes already happening. So we decided on Coinbase Prime as our crypto holder.”
Elevate’s team is making waves in the Amazon market. The company, which has rapidly grown its portfolio of private-label goods through deals and acquisitions over last year alone, has raised $370 million from leading global institutional investors and acquired 32 brands at a pace of 3-4 per month. The firm has grown by more than 500% since it opened its second headquarters in Austin, Texas.
Elevate Brands is a company that specializes in launching products on Amazon. They are currently ranked among the top 100 sellers of all time, and own 32 private label brands, including Sqribble bedding accessories for millennials.
Featured image from Pixabay, chart from TradingView.com