SFLMaven (OTC:SFLM) is a Florida-based retailer of luxury jewelry through its digital marketplace on eBay. The company has shown phenomenal growth in 2022, even in a challenging consumer environment. Truth be told, the luxury jewelry industry might be seeing a short-term boost due to the volatility in other assets like equities and bonds. While gold is often seen as the top store of value historically, jewelry is also a popular hedge against things like inflation, market volatility, and currency weakness.
SFLMaven is also one of several companies leading the charge into the future of Web3 and the Metaverse. Last month, the company opened the world’s first luxury jewelry-based NFT marketplace in Decentraland. While the crypto and NFT markets have seen a slight pull back as of late, as the industry mirrors the bear market in equities, SFLMaven has a first mover advantage in the space, alongside the likes of Meta Platforms (NASDAQ:META), NVIDIA (NASDAQ:NVDA), Nike (NYSE:NKE), and Adidas.
For now, SFLMaven is focusing on its core business of jewelry auctions. In June, the company reported monthly sales of $1.29 million, which puts it on a projected 12-month pace of more than $15 million. This would be a record for SFLMaven, and also represents a 46% sequential monthly growth from May of 2022. The company continues to thrive in a difficult consumer environment, and is setting itself up for the future of digital finance with its Metaverse offering as well as adding Bitcoin to its balance sheet.
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