Hodlmoon Raking In Profits from ‘Ugly Crypto Sweaters’
When one think of an ugly Christmas sweater, one usually thinks of seasonal clothing featuring festive colors, usually something along the lines of red and green. One company, however, has introduced a new spin on the classic sweater, and it’s making them a killing.
UglyChristmasSweater.com recently founded a spin off company, Hodlmoon, which sells bitcoin-themed sweaters, embellished with the aesthetics and logos of major crypto currency brands, like the pionner; bitcoin, and others. The company refers to them fondly as ‘ugly crypto sweaters’.
The sweaters, a niche product for a niche, has seen a lot of demand from the crypto currency community, with sales in 2017 sailing past 2,000 units.
The man behind the concept of a ‘crypto-themed ugly Christmas sweater’ is Zac Cohen, on of UglyChristmasSweater.com’s web developers, who says that he got the idea for the clothing after he made a successful investment in bitcoin, when the $100 investment he made in 2013 turned to $5,000 in 2017. Cohen explains that the idea of bitcoin made sense to him, hence why he made the investment.
While most people were busy being enamored with cryptocurrency, Cohen decided to make a different financial decision regarding them, seeing a possible business opportunity for the company he was working for. He then took his idea of ugly crypo-sweaters and pitched it to the company’s owners, brothers Fred and Mark Hajjar, who approved of the idea, giving Cohen full creative control over the spinoff company, which he dubbed Hodlmoon.
The idea took off with the cryptocurrency community almost instantly, as evidenced by the number of upvotes on Cohen’s Reddit post, where he first showed the internet the crypto-themed sweaters, after getting the initial samples of the sweaters, which sported the logos of Bitcoin and Ethereum.
Cohen says that the sweaters have been a hit so far, thanks to the cryptocurrency community being so passionate about their niche. Currently, cryptocurrency is en vogue, with many companies hoping to jump on the trend and make profits from them somehow.
Hodlmoon isn’t the only business that’s focused on crypto-themed products. More recently, on April 14, 2018, Ancora, the luxury pen manufacturer, launched it’s Ethereum-themed pen line to follow up on the successful Bitcoin pen line.
