Glamnetic: Female-focused Brands to Accept Crypto Payments​

Glamnetic: Female-focused Brands to Accept Crypto Payments​

BUSINESS | Jul 23, 2021 | WOZINGA NEWS

Glamnetic: Female-focused Brands to Accept Crypto Payments

  • Bitcoin has recently piqued the interest of the billion-dollar beauty industry.
  • Glamnetic, a magnetic eyelash beauty brand, is now accepting Bitcoin, Ethereum (ETH), and Dogecoin (DOGE).

By Elah Mae Ariate Wozinga Journalist

Glamnetic: Female-focused Brands to Accept Crypto Payments​

While many people regard Bitcoin (BTC) as a store of value, some consumers around the world may disagree. According to recent data, 46 million Americans intend to use cryptocurrency to pay for items like groceries or real estate.

Visa also revealed in July that its crypto-enabled cards processed more than $1 billion in total spending in the first half of 2018.

As a result, it is not surprising that major corporations such as Starbucks, Home Depot. Also, Target have begun to include Bitcoin on their balance sheets, according to Cointelegraph. However, as crypto payments gain popularity and become easier to incorporate, smaller brands. Particularly those geared toward women, are beginning to accept crypto to help drive female adoption.

Beauty industry bets on Bitcoin

Bitcoin has recently piqued the interest of the billion-dollar beauty industry. Glamnetic, a magnetic eyelash beauty brand, is now accepting Bitcoin, Ethereum (ETH), and Dogecoin (DOGE). This is because of the recent partnership with Bitcoin payment provider BitPay, according to Ann McFerran, CEO, and founder of Glamnetic.

Glamnetic, according to McFerran, is one of the first female-founded beauty brands to accept cryptocurrency payments.

McFerran stated that she began investing in cryptocurrencies in 2017 but quickly realized that the space was heavily dominated by men. After launching the Glamnetic brand in July 2019, McFerran  determined to incorporate cryptocurrency payments into the brand to encourage women to use cryptocurrency:

“The beauty industry is a sector where crypto payments aren’t widely accepted. I wanted Glamnetic to be one of the first brands to support crypto payments. Since I’m a huge believer in cryptocurrency and because I want to bring more women into the space.”

Will Bitcoin catch on in the beauty industry?

While it is too early to tell whether crypto payments for beauty products will increase female participation in crypto, a small impact is already being seen. McFerran revealed that Glamnetic has already processed a small number of cryptocurrency transactions from female customers.

Yuvi Alpert, founder and CEO of Noémie, a jewelry company that recently incorporated cryptocurrency payments, told Cointelegraph. The brand has currently only seen crypto sales with female customers.

Despite this, research shows that the top products for females to spend cryptocurrency on are travel and leisure, real estate, and furniture or appliances. While cryptocurrency payments may take some time to catch on in the beauty industry. Brands that incorporate cryptocurrency transactions will likely gain a competitive advantage.

Do you like the idea of Beauty Industry accepting crypto payment?

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