In an unusual move, Binance, known as the world’s largest exchange, recently introduced a new product – a perfume. Named ‘Crypto’, this fragrance is specifically targeted towards women investors, entrepreneurs, and developers. The perfume comes in an opulent gold bottle and is part of a campaign to address the gender disparity in the crypto industry.
To promote this initiative, Binance is rewarding the first 5,000 women who complete a beginner crypto course on Binance Academy with $25 in Tether token vouchers. The perfume, labeled as a meeting point of fragrance and finance, is not available for purchase but can be sampled at pop-up stands in Bahrain. The purpose of these stands is to spark conversations about bridging the gender gap in the crypto sector.
Binance’s Chief Marketing Officer, Rachel Conlan, expressed that ‘Crypto’ is not just a scent but a powerful message to women about their vital role in the crypto revolution. The exchange released a promotional video showcasing the reception of the perfume in public spaces, creating intrigue around the product.
According to reports, the perfume features fresh notes of ozone, salt, and moss in the opening, giving a crisp and rejuvenating aroma. The heart notes include a blend of Oud, Mandarin, and precious woods, while the base notes of Amber, Woody, and Musk provide a warm and earthy scent that exudes sophistication.
Amidst this creative marketing campaign, Binance has been facing internal transitions. The exchange’s new CEO, Richard Teng, took over in November 2023 after the founder, Changpeng Zhao, faced legal issues in the US for money laundering violations. This week, Nigeria’s House of Representatives Committee on Financial Crimes has summoned Teng over suspicions of Binance’s involvement in money laundering and terrorism financing.
Binance’s introduction of the ‘Crypto’ perfume represents a bold and innovative approach to engage women in the crypto industry. By combining the worlds of fragrance and finance, Binance aims to encourage more female participation in this male-dominated sector. However, while the perfume may be a symbolic gesture, the challenges faced by Binance on the business front indicate a turbulent period ahead. Ultimately, only time will tell the true impact of this unconventional marketing strategy.
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