UglyChristmasSweater.com is Now Making Cryptocurrency-Themed Sweaters
You might have thought that the business in UglyChristmasSweater.com appears seasonally but there is one garment which has been ensuring that the fashion is running all the year. The latest trend is of fully knit sweaters which have logos of popular digital currencies like Bitcoin, Litecoin and Ethereum which are being called ugly Crypto sweaters. The sweaters are becoming very popular among the online crypto community. Holdmoon, which is the brand of these sweaters, is also from of the UglyChristmasSweater.com. More than 2000 sweaters were sold in 2017 alone.
These sweaters are mainly used during holiday office parties but long after the parties’ crypto investor are sharing the photos of the sweaters on Twitter.
The originator of the idea Zac Cohen who is a web developer at UglyChristmasSweater.com says he got the idea of making Bitcoin-themed sweaters after he made 5000 dollars from an investment of 100 dollars in Bitcoin. Zac had bout one Bitcoin in 2013 because according to him the basic math behind the currency made a lot of sense to him.
Bitcoin has for long being compared to Gold especially because the two are scarce. Total Bitcoin supply will never be more than 21 million and that’s why people buy with the believe that the price will continue to go up as the supply decreases. According to Zac:
“I liked the idea of Bitcoin and I decided to buy one so that I could say that I have one of the 21 million coins.”
Zac then watched as the price of Bitcoin went up while it gained in value day after day. The Currency was then helped by bullish investors and the media ensuring that at least everyone heard about Bitcoin. With many people having knowledge about Bitcoin they began to buy thus sending its prices very high. During this period it’s when Cohen saw the opportunity of having the Bitcoin themed sweaters an idea he shares with UglyChristmasSweater.com owners Fred and Mark Hajjar.
The two company owners then gave Cohen a creative control over a spinoff company which has specialized in fully knit sweaters with logos of the popular digital currencies like Litecoin, Bitcoin and Ethereum. They then called that section Hodlmoon.
When the first samples were manufactured, he shared a photo of the sweaters on Reddit and they received more than 2000 up votes. This was followed by the first online sales in October 2017 when he sold more than 200 sweaters on the first weekend. This was then followed by total sales of 2000 sweaters in 2017 with each sweater retailing for $59.99. The beauty is that Hodlmoon accepts cryptocurency payments and also credit cards.
Big crypto investors like Dmitry Buterin the father of Ethereum Founder Vitalik Buterin posted a picture on twitter wearing the Hodlmoon’s Ethereum-themed sweater.
Cohen believes the sweater’s success has been because of the passionate crypto investors which he describes as a ‘niche inside a niche.’