Dive Brief:
Betting big on the future of Web3, lifestyle brand Alo Yoga now accepts cryptocurrency as payment for online purchases, according to a press release shared with Retail Dive. Customers who pay using crypto will be given one free month of Alo Moves, the company’s online fitness class subscription.
The DTC retailer will also allow employees to have full or partial paychecks deposited directly into crypto wallets.
Alo Yoga plans to launch a non-fungible token collection and corresponding apparel line ahead of September’s New York Fashion Week, per the release.
Dive Insight:
According to Alo Yoga, which sells athletic apparel and wellness products, Web3 – a new stage of the internet driven by blockchain technology – is “quickly becoming the future of fashion and wellness.”
“The Alo community has grown exponentially over the past few years — they’re fun, vibrant and craving new and authentic ways to engage with us. As early adopters, Web3 has become a large part of their daily...
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