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Newegg to Accept Shiba Inu (SHIB) Cryptocurrency as a Form of Payment on Newegg.com in Time for the Holidays
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Newegg Commerce (NASDAQ: NEGG) has announced its acceptance of Shiba Inu (SHIB) cryptocurrency as a payment option starting in December. This move is part of a major promotional campaign, highlighted by a grand display on North America’s largest DOOH billboard located in Downtown Los Angeles. Newegg, a pioneer in cryptocurrency acceptance since 2014, aims to enhance customer shopping experiences by offering more flexible payment options through its partnership with BitPay.
Positive
Newegg will accept Shiba Inu (SHIB) as a payment option starting in early December.
The digital billboard campaign is expected to enhance brand visibility during the holiday season.
Newegg's history as a pioneer in accepting cryptocurrencies may attract more tech-savvy customers.
Negative
None.
Company Unveils the News on North America’s Largest DOOH Billboard in Downtown Los Angeles
LOS ANGELES--(BUSINESS WIRE)--
Newegg Commerce, Inc. (NASDAQ: NEGG), a leading tech-focused North American e-retailer, has announced that it will accept Shiba Inu (SHIB) cryptocurrency as a form of payment on its platform in time for the holidays. The company made the news official on a grand scale with a massive digital out-of-home (DOOH) campaign displayed on The Reef, North America’s largest DOOH billboard. Situated at the intersection of the busy I-10 and I-110 in downtown Los Angeles, The Reef is a larger-than-life platform for Newegg to drop its latest crypto news.
Newegg announced that it will accept Shiba Inu (SHIB) with a massive digital out-of-home (DOOH) campaign displayed on The Reef, North America’s largest DOOH billboard. (Photo: Business Wire)
Newegg has a longstanding reputation as a pioneer in the crypto space. Newegg was the first major ecommerce company to accept Bitcoin as a payment method in 2014 through its partnership with BitPay. Subsequently, Newegg was among the first to accept Dogecoin in early 2021, followed by Litecoin in July 2021. Newegg will begin accepting SHIB in early December, further cementing Newegg.com as a preferred destination for online shoppers who want to pay with cryptocurrency.
“We are always looking for ways to innovate the shopping experience on Newegg.com, and something our customers want is greater flexibility and options, including the ability to pay with a wide range of cryptocurrencies,” said Andrew Choi, Director of Brand Marketing at Newegg. “Through our partnership with BitPay, we have the ability to move quickly and lead the market with flexible cryptocurrency payment options. To that end, we’re excited to offer SHIB as a payment option on Newegg.com.”
The Reef wraps around three sides of a large office building spanning an entire Los Angeles city block. At 55 feet tall and 736 feet wide, the 40,000+ square foot DOOH billboard is one of the most impressive billboards in the world, and a central component of Newegg’s holiday promotional campaign.
Newegg Commerce, Inc., headquartered in the City of Industry, California, is a leading tech-focused e-retailer in North America and serves a global customer base throughout Europe, Asia Pacific, Latin America and the Middle East. Founded in 2001, the company offers direct sales and an online marketplace platform for desktop PCs and IT computer hardware, consumer electronics, automotive, gaming products and finished goods. Newegg also offers an extensive portfolio of technology, marketing, logistics and other partner services to help companies grow their business. For more information, please visithttps://www.newegg.com/.
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at http://www.sec.gov.
