Flubit Limited, the 7-year-old eCommerce start-up (and winners of the prestigious Web Summit competition) have announced that the rights to the Flubit.com marketplace have been acquired by the prominent blockchain technology group MonetaryUnit.
The strategic decision revealed today will see MonetaryUnit lead the future operations and growth of Flubit.com, with a view to integrating their asset-transaction technology – enabling over 500 cryptocurrencies to be spent on millions of consumer goods. Consequentially, Flubit.com will become the world’s largest shopping marketplace dedicated to the acceptance of cryptocurrencies.
In a move that sees the continued rise and adoption of decentralized blockchain technologies into our daily lives, Bertie Stephens, who co-Founded Flubit.com with Adel Louertatani believes the deal reached between the two parties will offer their retail sellers a new avenue for business growth.
Flubit.com currently hosts more than 71M branded consumer goods, making it the largest independent marketplace for products in the UK. Launched in 2012, Flubit Limited has helped generate over £100M in new business for over 2,000+ registered UK-based SME suppliers. As part of the deal, MonetaryUnit’s Flubit.com will also be introducing supply chains to allow its inventory to be shipped worldwide.
Byron Barnard, founder of the MonetaryUnit Blockchain project, believes the deal is significant in offering further validation to facilitating the acquisition & interchange of Crypto assets.
Flubit.com has had over 3 million price conscious shoppers through its doors last year, allowing us a unique opportunity to give even greater savings that the use of cryptocurrencies will offer existing users. In addition, the millions of crypto savvy users will have a real-world use for their many different cryptocurrency holdings which has been a long awaited game changer. MonetaryUnit’s vision is to make cryptocurrency accessible to all and this announcement is another significant step in the direction to fulfil our mission, and to make waves in the e-commerce and Blockchain worlds.”
Over the summer months Flubit.com will undergo a revamp to incorporate the MonetaryUnit technologies and positioning; when finished sellers on Flubit.com will have unique and direct access into the $270BN crypto user base, where current volume sees over $10BN of assets purchased and sold daily. Flubit.com will continue to allow traditional transactions too.
Whilst the finer details of the arrangement are not being released by either party, Flubit Limited will continue to trade & grow its B2B business ‘SKU Cloud’, which gives opportunities for retail sellers to sell across multiple channels.