Brand completely associated with crypto - page 2.

wheelz1200

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I mean why would you limit the purchase of something with an altcoin. Any reason you wouldn't allow someone to buy something with bitcoin? Sounds like you have a bag that you want to push and are trying to build a reason for people to buy that coin. It's a dumb idea it's not solving anything and you won't make that many sales

lalabotax

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

This is not something impossible. This would make sense and could possibly happen. However, this may not be as easy as you imagine. Unless crypto is already used to being used in that area. In fact, crypto has begun to be widely used as a transaction tool, but there are several obstacles that often prevent owners from accepting it. In this case, when you think about certain altcoins, make sure that they are altcoins that really have a high value and market cap. because it will be very risky if you receive new coins, this could be a scam or shit coins.

then, it's a struggle, especially when it's just the beginning.
It certainly won't be easy because you have to introduce it to the public first. Moreover, you also have to start explaining about crypto and introducing them even though at first they may not be interested.

tvplus006

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I think that you will lose a large number of potential buyers of your products. Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him. Thus, you can use the sale of your products for altcoins as an additional payment method, and not as the main one.

bluebit25

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

That could be seen as a bad business idea, and when someone asks the OP why do that? And are you really serious about combining payments with the service's cryptocurrency, and what do you think the user will accept or even know about crypto?

And more importantly, if you don't want to get into the trouble of duplicating ideas and brands, imagine a series of memecoins created with meaningless content as well as names that really just want to chase the hype spread in the media. It's similar to how you mentioned branding in relation to a market that's generating traction. Seriously looking at the problem and its results in terms of challenges and risks when applied will help you figure out what to do next.

Silberman

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

Then you will have to file for bankruptcy within a few months, merchants since the profession has existed as such have strove to accept as many currencies as possible in order to increase the number of people they can serve and the profits they can generate, and this is just as true today as it was back then, so by only accepting a specific altcoin for the purchase of your products you will severely limiting yourself to just the users of that coin, reducing your sales and making your business very unlikely to succeed.

Marvelman

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This thing sounds like a pretty creative idea to me. That's often how it goes in the entrepreneur world - someone comes up with a funky new concept and it takes off into something big. But you'd probably want to think about how it would really work for people and is this altcoin gonna be easy for your customers to get their hands on? And will it really appeal to the folks you're aiming at? I guess theres no reason to limit your potential buyers unless that limitation gives you some other kind of edge. Overall it seems like an exciting concept, you just gotta work out the practical stuff.

oktana

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Quote from: mk4 on October 31, 2023, 12:37:53 AM

That's surely one way for your business to not get off the ground.

My thoughts exactly!

OP, for a fact, you’d expect your business to bring you money, so why crash it by limiting potential buyers? People love to be able to make choices. I’m an advocate for crypto but I’m not an advocate for forcing things on people (especially in this case where you’ll need to make sales.) In my opinion, you should rather accept both fiat and crypto. This way, you have normal users who are purchasing yet learning that you accept crypto and thinking of the crypto sphere as growing rather than having a bunch of users attempting a purchase to see that they can’t make a choice as the payment method is compulsorily crypto. To even make people use crypto more (out of their own will) you can give a good discount for people paying with crypto. Yes, it could get so tempting that people who aren’t in the crypto sphere could be triggered to learn.

Bushdark

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

There are people who create altcoins and give them value based on there product the market. There are altcoins that are attributed to dogs, for the purchase of dogs, their food, care and donations just like we have doge coin and other coins too in the market that are attributed to dog and there wellbeing. It is very important for us to know the kind of altcoin we want to create and the problems it is meant to solve in the physical world. You can create your own coin and give it some qualities attached to cosmetics so your customers can use your coin to buy cosmetics from different dealers.

Sophokles

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Your product will not be that popular if you are thinking about only accepting crypto for your product payments as the crypto community that wants to use their crypto to buy goods is small and they are all over the globe. If you are thinking that this will popularize your brand you are totally wrong. Top online marketplaces already accept some crypto assets along with fiat currencies. You can do something similar to give your customers a better experience but using crypto as a bait to attract more consumers to your brand won't work really well.

edmundduke

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I wouldnt really completely associate it with your brand. I really do not see any benefits to that.
What you could do is for example enable payments via cryptos. Set up a lightning channel for bitcoin.
If you want to help with doption, you coudl set up a system where people who buy from you, get a small kickback in form of your token if they install a wallet or something.

EmpoEX

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

The question is how well know the alt coin is. It will depend on the rank of alt coin, the usage of the alt coin. If you want to use only a specific alt coin, that will be a problem for your customers. If you allow multiple coins, that might be a good choice. But let's say you offered them your products that can be bought with Elon coin only at this moment, surely customers won't buy elon coin just to buy your product unless it's too important. Moreover, most of the cosmetics they can buy with fiat and other currencies. So, they won't take the hassle.

electronicash

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for it to be considered a brand, it should already be popular just like crypto.com is associated with UFC, they've been sponsoring shirts and VEchain is a brand partner of UFC as far as i know. Vechain is all over their canvasses and even on walls.

cosmetic products mean you are promoting these products to women and so shall the users of this token, you know how hard it is to invite women into this industry right?

Mate2237

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I don't know if I really understand your point but if I may understand it I will say yes you can but you need to make it general so that people who interested to use it can use it to purchase other things in another cosmetic products. It is a good idea so don't limit it to only your self. Everything has a starting point so you have to start from somewhere. Make sure the brand should be legit for people to use. Cryptocurrency is not meant for only one company to be using but for everyone. Just like the different fiat currencies that all have their values.

Yogee

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

[...]Like , the purchase of cosmetic products of my company being available only with certain alt coin.

Bad idea. Not only are you limiting the sale of that product but you are also causing inconvenience to your customers. I think it's better to offer as many options as possible then create some special perks to whoever buys using a certain altcoin. Leave it up to them if they want to avail that or not.

danherbias07

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Anything is possible. It can actually be done but that won't be your main problem at all.
Marketing. This is where most cryptocurrencies business is failing. It's difficult to market anything in the crypto field, especially with the scams and hacks lurking in the shadows.
If you are aiming for selling your cosmetics by means of old cryptocurrencies like Bitcoin, Ethereum, or stablecoins then I don't think there will be much of a problem.
But if you are trying to create your own altcoin then it adds a workload. A team to manage it, investors, maintenance, developers, and more. It's not like it can be done with just the flick of your finger.
Then, you will have to market it and try your best to make it attractive to buyers.

Orpichukwu

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

The idea looks great, but you might not completely get the kind of sales that you desire. You need to start up a shop that will help you make a profit, and at the same time, you want to promote crypto using that shop. That's understandable, but do you know that it's not just everyone that will like a product in your shop that will be a crypto user? The majority of people will like to pay with their fiat.

So I will advise that if you want to make a shop like that, add both your desired altcons available as methods of payment and also allow the use of your local currency for purchase. That way, you can be rest assured that your business won't fail even before you start it up. If the business has now gained some value and constant customers, then you can evaluate between those monthly sales and check which method was mostly used to purchase products from your shop. From there, you can know the next step to take.

batang_bitcoin

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Quote from: selezneve on October 30, 2023, 06:43:22 PM

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I have seen many companies did this but many of them failed. It's because many people chooses to use those coins that are already established and they don't want to take risk buying something with their 'only' coin. They prefer to use fiat over their own coin on it thus, the customers will just avoid that brand. It's not going to work because those that I have seen were established but little to no success. So, for the smaller and unknown brands, you'll have hard time unless you work hard with a bit of luck is with you, you'll succeed.

Publictalk792

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As you know this is the crypto world and here anything can be happened like you have some examples like Luna and FTX. You must have knowledge about the market and
You would need to careful about the feasibility of using a specific altcoin as the only payment method for your products. Altcoins can be volatile and their value can fluctuate significantly.

Bureau

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Quote from: siedemtrzy on October 31, 2023, 02:46:15 AM

Are you sure that's a good idea? I may be wrong, but most crypto users are men. Crypto cosmetic bard will just not find a big audience.

A lot of them are men, that doesn't mean that women are not into crypto. Cosmetic doesn't mean that it is associated with only female. Male cosmetics are also available in the market and OP would be selling both as most cosmetics website do.

It is better that OP provide multiple payment option. Like fiat and known altcoins, the more options are available the more convenient it becomes for a buyer. I won't suggest restricting the customer to only use crypto for purchase of any product.

siedemtrzy

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Are you sure that's a good idea? I may be wrong, but most crypto users are men. Crypto cosmetic bard will just not find a big audience.

Topic: Brand completely associated with crypto - page 2. (Read 396 times)