Alo Yoga to allow employees to be paid in cryptocurrency
Alo Yoga is moving further into Web3 by allowing its employees to convert part or all of their paychecks into cryptocurrency, alongside the news that it will also accept the currency on its e-commerce site.
The US fashion and wellness brand said that its employees, regardless of employment type, will be able to choose to have full or partial paychecks deposited into their crypto wallets. Converting their wages from US dollars to crypto with no transaction fees.
Danny Harris, co-founder and chief executive of Alo Yoga, said in a statement: “We always want to be ahead of the curve. Activating in the metaverse was that first step for us. Enabling crypto payments takes it even further, introducing a real-world connection to Web3, something we find more and more of our customers are interested in.”
This isn’t Alo Yoga’s first foray into the Web3 space, the wellness brand partnered with gaming platform Roblox earlier this year to bring mindfulness to the metaverse with a yoga and meditation sanctuary, in addition to digital fashion.
Alo Yoga also added that it will unveil a NFT collection ahead of New York Fashion Week in September, along with a corresponding apparel line.
Angelic Vendette, vice president and head of marketing at Alo Yoga, added: “The Alo community has grown exponentially over the past few years — they’re fun, vibrant and craving new and authentic ways to engage with us.
"As early adopters, Web3 has become a large part of their daily lives, and we want to meet them where they’re at. This includes us forging the way for wellness within the metaverse, digital fashion, cryptocurrency and NFTs.”