PHILLIPSBURG, N.J.--(BUSINESS WIRE)--Edison Nation, Inc. (NASDAQ:EDNT), a multifaceted ecosystem which fosters innovation and drives IP, media and consumer products, announced today that it is partnering with Buyaladdin to make its products available direct-to-consumers (DTC) in Asia. Buyaladdin is the first multi-payment shopping platform that provides a convenient, secure and efficient online marketplace for those who want to transact using cryptocurrency assets along with fiat currency or credit cards.
Buyaladdin joins an already expansive list of partnerships that Edison Nation has with many of the world’s top brands, companies, and manufacturers, further enhancing the reach and sales channels for its innovators’ products across 20 global markets. Buyaladdin serves upwards of 100 million shoppers who make purchases using a variety of cryptocurrencies such as Bitcoin, Ethereum, and ABBC Coin.
“Buyaladdin opens the doors on our DTC efforts in Asia by providing us the reach and flexibility for consumers to purchase our inventors’ products in multiple ways and with a variety of currencies,” said Chris Ferguson, CEO of Edison Nation. “We’re charging into the DTC market in Asia, on the heels of similar efforts in Europe and North America, because turning great ideas into successful products requires not only focus, dedication and money, but most of all reach and exposure to consumers who want to purchase goods in the currency of their choosing.”
Buyaladdin is an emerging e-commerce player that has integrated with more than 100 major retailers worldwide—including Amazon, eBay, Coupang, Rakuten, Allegro and Lazada—to offer a wide variety of high-quality products. By partnering with Edison Nation, Buyaladdin brings its first community of innovators and their exciting products into its marketplace.
“Buyaladdin is an ideal partner to support Edison Nation’s DTC foray into Asia, because we’re the first and only online shopping platform to accept crypto as a payment method,” said Geun-Woo Lee, CSO of Buyaladdin.com, Inc. “We’re excited to add Edison Nation’s products to our growing global marketplace. Not only are our shoppers going to love Edison Nation’s clever, fun and sometimes quirky products, they’re going to be ecstatic that for the first time they can purchase them using crypto.”
The Edison Nation platform has a community of more than 200,000 innovators that confidentially submit ideas via the company’s online platform. From this community, Edison Nation reviews, selects and applies proprietary algorithms to discern which are the most suitable projects for development. Those innovative products that are selected and brought to market globally with the Buyaladdin platform will also be available in Asia.
About Edison Nation, Inc.
Edison Nation, Inc. (EDNT), is an inventor ecosystem driving IP, media and innovative consumer products. Edison Nation offers innovation sourcing, design, sales, fulfillment and shipping services. Edison Nation's model is to source innovative ideas for internal launch or license to brand partners. Throughout 2019 and beyond, Edison Nation looks to establish prominence in the media space through its television show “Everyday Edisons” and additional properties. For more information, please visit www.edisonnation.com.
Buyaladdin.com, Inc., headquartered in Delaware, USA, with R&D and Service Centers located in Dubai, UAE, is the first ever multi-payment shopping service system in the world. The payment system allows global buyers absolute freedom in choosing their method of payment among fiat currency, credit cards and crypto-currency.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the Company's views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company's products, any difficulty in marketing the Company's products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service the Company's debt. Additional information that could lead to material changes in the Company's performance is contained in its filings with the SEC. The Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.