Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced a co-marketing agreement with rapper, record producer and entrepreneur Wesley Eric Weston, Jr., better known as Lil' Flip aka "Flip Gate$".
Under the agreement, Lil' Flip and FitPay will collaborate to market a contactless payment device that allows Bitcoin holders to make contactless payments in millions of retail locations with value exchanged from their cryptocurrency. The device, which will include artwork designed by Lil' Flip and carry his branding, leverages the FitPay® Bitcoin Exchange and payment Token Requestor platforms.
"I've always been ahead of my time. This move was planned 10 years ago. I'm a calculated mastermind. I pattern my biz moves after greats like J.Prince, Warren Buffet, Jay-Z and Bill Gates. That's why my nickname is FLIP GATE$ and don't forget the dollar sign. Checkmate!!!!! #KINGLIFE," said Lil' Flip. "Great to work with a company like FitPay that is forward thinking and shares my vision."
The coin-shaped device will store a preloaded amount of U.S. dollars that are exchanged from the user's existing Bitcoin account and has a digital wallet that allows users to set how much value they would like their device to hold and when they would like it to reload. It includes near field communication (NFC) antenna allowing users to tap and pay at any retail point of sale location that accepts contactless payments. The artwork on the device will be designed by Lil' Flip and reflect his branding.
"Through his music, videos, social media and other content channels, Lil' Flip speaks to and connects with a broad of community of Bitcoin and cryptocurrency enthusiasts," Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. "We see this agreement as a unique avenue for reaching an audience that is highly interested in new technologies within cryptocurrency."
Lil' Flip's primary content and social media platforms include his website CloverG.com, video channel YouTube.com/CloverGtv, and @LilFlip713 on Facebook, Instagram, and Twitter. Through these outlets Lil' Flip will be introducing his branded contactless payment device or "Flip Chips" via interviews, tutorial videos, his signature freestyles, and a variety of other strategic marketing techniques.
Lil' Flip and Fit Pay will collaborate on the marketing and promotion of the device. A launch date for the product has not been released. Consumers interested in joining an interest list for the product can sign up at www.LilFlipChip.com. There are account and exchange fees associated with using the device.