Cryptocurrency has taken off and is now being used in many more places than it was just a year ago. Elevate Brands has decided to offer brand owners payouts in dollars – or cryptocurrency. It will be interesting to see how many Amazon sellers take them up on their offer.
Amazon Marketplace owners who sell their business to Elevate Brands will now have the option of being paid in crypto.
- “We’ve learned that [Fulfillment by Amazon] sellers are already well entrenched in crypto, so we are thrilled to be the first company in the Amazon ecosystem to offer the option of Cash or Coin,” Ryan Gnesin, CEO of Elevate Brands said in a press release.
- Elevate has raised over $370 million from institutional investors, and owns over 30 private label brands. The company says it’s a top 100 seller on Amazon.