What do model/actress Heidi Klum and a Switzerland based startup by the name of TokenPay have in common?
Well, surprisingly, they both now have stakes in a lingerie fashion brand called NAKD.
As per a filing in accordance with the U.S. Securities and Exchange Commission on the 27th of March, TokenPay now has a 6 percent equity stake worth $1.3 million in the Australian lingerie company, Naked Brand Group. The brand is most famous for it’s signature fashion lines in collaboration with the infamous X-Factor judge and model.
So, why invest in the lingerie business?
Well, In an interview with CoinDesk, TokenPay’s CEO Derek Capo stated that this move was an attempt to expand the company’s strategy towards a more diverse portfolio after a positive token sale in 2017 valued around $20 million worth of Bitcoin. However, as per the report, it might be a while before customers can actually purchase Klum’s designs with the digital tokens.
Speaking about future prospects with the firm, Capo also added;
“They [NAKD] also mentioned they are interested in working with a blockchain company for logistics. We’re interested in them accepting TokenPay’s merchant services platform so that they can accept crypto across all of their brands.”
The TokenPay CEO also elaborated where and how the firm had invested it’s sale earning as of yet, adding that approximately $4 million had already been spent on purchasing the equity in a German bank in 2018.
The interview also established that even though there is no concrete contract or agreement for the integration of TokenPay merchant services to accommodate NAKD customers, the startup hopes that just by investing in a more diversified market will make a strong case for the increased adoption of TokenPay.
According to Capo, “We’re trying to get every single angle possible because we realize there are many opportunities in this industry. Once you start using it [TPAY], then we’ll be able to offer you the opportunity to work with the German bank, open up a bank account there and convert your fiat if you choose.”
In the end, Capo explained that the company has spent $1.5 million on different operating costs, yet retains approximately 10 percent of it’s Bitcoin.
“We’ve built a lot of infrastructure and also a lot of deals. Releasing the development of technology stuff takes time. So now you’ll start to see some of the products benefiting from the deals that we did earlier.”