Boosting Crypto Adoption: Ethereum Teams Up With Nike
Ethereum was recently in the spotlight when it’s been revealed that one of their dream about enhanced transaction privacy came true.
This is a protocol for stealth payments on Ethereum.
Next step in improving ethereum’s privacy (in addition to ongoing improvements to https://t.co/f8JT3wFmD4 and the like): some clean easy-to-use stealth-address-like scheme to send coins to an ENS name without publishing to the world that they got coins.
— vitalik.eth (@VitalikButerin) April 1, 2020
Ethereum teams up with Nike
A new partnership between Ethereum and Nike is offering shoppers up to 3% in crypto and 9% in cash as rewards for making online purchases.
The apparel and footwear giant tamed with London-based Plutus, which is a finance app that’s allowing users to manage both fiat and crypto from the same UI.
This partnership allows the users who are spending euros and British pounds to buy Nike merch with their Plutus-branded Visa card and they will earn Pluton (PLU) which is an ETH-based loyalty token, according to the reports coming from the online publication the Daily Hodl.
An important move for mass adoption of cryptos
The token can be used for the various functions:
- Convert into additional fiat card balance
- Redeem for Plutus Premium services
- Exchange without fees on the Plutus decentralized exchange
- Transfer the tokens between wallets
It’s also worth noting that the team at Plutus explained that rewarding regular debit card shoppers with tokens will get them into the crypto space.
“We enable millions of enthusiasts to make use of their crypto-assets and spend at over 400 million merchants worldwide utilizing the existing Visa infrastructure.”
This is an important move for one of the main goals that the crypto industry has – the mainstream adoption of digital assets.
There have been made more moves in this direction back in 2019 and this year as well, despite the global crisis triggered by the pandemic.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.