SFLMaven Corp., a high-end luxury goods retailer, is banking on bitcoin and will accept the cryptocurrency for vintage jewelry purchases in physical and digital retail in the Metaverse.
The company is also diversifying its cash exposure to include bitcoin exposure as a line item in registered holdings of assets, according to a press release.
“We believe in the future of bitcoin and digital payment systems and that fiat currency systems represent a risk to the productivity of assets on the balance sheet as they are subject to monetary expansion, stimulus and debt, which could continue to depress value,” Joseph Ladin, CEO of SFLMaven, said in the statement. “As such, we have begun to diversify the company’s exposure to the cash side with periodic investments in bitcoin. We will also be increasing this step by moving to enable BTC purchases as we continually work to expand our access to viable end-market customers interested in our unique products.
“We are excited to begin accepting bitcoin as a valid method of payment, especially as we establish our new presence in the metaverse and the sale of digital goods, creating an avenue for an expanding relationship with a new end market. massive and tech-savvy.”