Nev Hyman—Burleigh Heads surfer, shaper and entrepreneur—found himself overwhelmed with orders after he sold some of his NEV brand surfboards on a Facebook page for users of Qoin cryptocurrency.
Enthusiastic Qoin customers snapped them up, and he was soon contacted by customers who wanted him to produce custom-made surfboards.
“I had people approach me saying ‘I’d love to get a custom order and I want to pay with Qoin.’ At the time, I wasn’t even making surfboards, it’s not my core business. It’s just more of a hobby.”
A partnership founded on Qoin
Nev was soon inundated with requests for longboards and stand-up paddle boards (SUPs) as well—products he did not sell. Nev was already an ambassador for The Surfboard Warehouse, one of the country’s largest online sellers of surf products. So he spoke to them about selling their products using Qoin, and they said yes.
On a fateful Sunday morning in October 2020, Nev decided to make a brief post on Facebook saying anyone could buy his custom-made boards, NEV brand short boards, along with any product in the Surfboard Warehouse range using Qoin.
“Well, I didn’t leave my desk all day. I sold $30,000 worth of longboards and SUPs in one day, all on Qoin. That continued for the next week, and after 10 days that figure was up to $80,000,” Nev says.
The result is testament to the growing merchant base behind the Qoin cryptocurrency, and the trust within the Qoin community.
The importance of having a cash reserve
Nev, however, found himself a victim of his own success! In the lead-up to Christmas, he had tens of thousands of dollars of orders from customers—paid for in Qoin—and a partner who was overwhelmed by demand, and asked Nev to pay cash to release the stock. He now warns people to carefully consider how much they can accept via Qoin, because the need to cash out immediately can result in loss of margin.
But despite the inconvenience, Nev is still a dedicated Qoin advocate and supports the platform and community it has fostered. And he’s continuing to sell products from The Surfboard Warehouse—just on a new arrangement with more limited sales.
“Everybody, everyone, understood. They all got their product. They were all happy. The Qoin people were amazing.”