“Cryptocurrency has emerged as a critical part of the evolution of finance, just as the metaverse is the evolution of the internet from 2.0 to 3.0,” CEO Evan Gappelberg said
Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF, NEO:NTAR) announced that it is now accepting major cryptocurrencies as an optional form of payment, giving customers increased flexibility.
The Vancouver-based augmented reality (AR) firm said it believes that crypto economies are the next emerging market and that crypto will be a major payment method in the metaverse.
Through an integration with Coinbase Commerce, it said new customers initially will have the ability to choose from several cryptocurrencies for payment, including Bitcoin, Ethereum, Litecoin, and USD Coin. It is also exploring further options and may accept more cryptocurrencies in the future, the company added.
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In addition, it said it is working on integrating cryptocurrency payment at self-serve checkout, allowing for a seamless, flexible payment process for all recurring Software as a Service (SaaS) customers as well.
Coinbase Commerce is an enterprise blockchain service that facilitates cryptocurrency transactions between customers and merchants, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and USD Coin.
“Cryptocurrency has emerged as a critical part of the evolution of finance, just as the metaverse is the evolution of the internet from 2.0 to 3.0,” CEO Evan Gappelberg said in a statement.
“With this Coinbase integration Nextech is positioning not only as a metaverse technology company that offers metaverse solutions to its customers but also as an end-to-end metaverse company that accepts crypto, keeping us ahead of the curve in everything we do,” he added.
Nextech noted that a study from Deloitte found that more than 2,300 US businesses currently accept Bitcoin, including major retailers like Microsoft, Paypal, Starbucks, Etsy (NASDAQ:ETSY), Whole Foods and more, with an increasing number of companies worldwide projected to follow suit.
Accepting cryptocurrency as payment provides numerous benefits to both the company and its customers, including but not limited to payment flexibility, access to a wider customer base and new demographic groups, faster transactions (in comparison to wire transfers), irreversible payments (eliminates chargeback risk), and increased security and privacy, it added.
Nextech develops and operates AR platforms, transporting three-dimensional product visualizations, human holograms and 360-degree portals to its audiences altering e-commerce, digital advertising, hybrid virtual events and learning and training experiences.
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