Baisakhi MishraA Louisville coffee business is rebranding as Dogebean, a pun on Dogecoin, and will accept payments in the meme cryptocurrency. According to the article, the coffee store is located in the neighborhood of Phoenix Hill, is now undergoing a rebranding, and is only taking online orders at this time.
Image Source: Daily Advent
Dogebean co-founder Andrew Lutes was reported as saying that cryptocurrency accounts for 25% of the coffee shop’s sales. Lutes also stated that he intends to create a café where Dogecoin will be accepted as payment for a cup of coffee. He has not, however, established a date for the café’s reopening.
Lutes fell in love with the Shiba Inu because of the DOGE Military. Although he claimed to be “crypto-adjacent” due to his numerous buddies who were into cryptocurrency, he did not really understand it.
Lutes added that he had misjudged the DOGE Military — a reference to the coin’s following — as a DOGE investor who entered the coin at 7 cents in January and felt he was a genius when he bought at 12 cents.
This year, Dogecoin has grown in popularity, thanks in part to Tesla Inc. (NASDAQ: TSLA + Free Alerts ) CEO Elon Musk’s unwavering backing. Companies are increasingly embracing Dogecoin as a form of payment and releasing new Dogecoin-themed products. Unilever PLC (NYSE: UL -0.02 percent + Free Alerts ) has created a limited edition of DogeCan, a deodorant that can inspire by Dogecoin. Dogecoin was developed in 2013, although Bitcoin, its much-loved precursor, has been active for more than a decade.
Lutes is confident that DOGE will be accepted at the cash register. “I’m curious to see how we approach the problem of level of sale,” he said, “because that’s where transaction velocity comes into play, and Doge is great in that regard.”
Conagra Brands Inc. (NYSE: CAG +0.09% ) and candy bar Snickers have both used the cryptocurrency, which originated as a joke, for marketing purposes.
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