Crypto exchange Binance has launched a new marketing campaign to celebrate this year’s International Women’s Day. The campaign aims to spark conversations about the gender gap in the industry with the launch of a “CRYPTO” fragrance.
Binance “Launches” Luxury Perfume For IWD
Binance, one of the largest exchanges in the world, recently announced its new project to celebrate International Women’s Day (IWD) and discuss the gender gap in the industry.
The project includes a marketing campaign to open the discussion of “what can be done to bridge the gap” and a beginner course on Binance Academy to help women start their crypto journey.
For this IWD, the exchange is “on a mission to help women across the globe take their first steps in crypto.” This includes offering a $25 reward in USDT to the first 5,000 women who take a short quiz on Binance Academy.
The ‘CRYPTO’ fragrance was first teased to the public on Tuesday in an X (former Twitter) post. The fragrance is labeled a “luxurious fusion of exotic ingredients including HODL, DYOR, YOLO, and LFG.”
Fragrance meets finance.
The new #Binance scent is here… pic.twitter.com/0A8kEuhYhR
— Binance (@binance) March 5, 2024
The real announcement revealed that the perfume was part of Binance’s 2024 IWD inclusivity campaign. The exchange set up a perfume stand to captivate the female audience that passed by the stand.
As stated in the video, the goal of the ‘CRYPTO’ stand was to “spark conversation” since “women are still not investing in crypto as much as men.”
Most of the women showcased in the video said they had not begun their crypto journey yet. However, they expressed their curiosity about the sector and suggested that a “fear factor” played into their caution to dive into cryptocurrencies.
Fragrance Meets Finance Ignites The Wrong Conversation
Undoubtedly, the marketing strategy sparked a conversation among the community. Many users expressed their thoughts on the campaign, suggesting that the exchange might have missed the mark this time.
Highlighted by Betty, an artist and creator of the successful Deadfellaz NFT collection, the campaign seems to be based on the stereotype that women can be allured by “pretty things.”
The campaign’s seemingly stereotypical approach, whether intentional or not, was met with negative reactions from the community.
As the replies show, the post raised criticism for the exchange’s decision to launch this part of the project, with some questioning the campaign’s real purpose and Binance’s steps to “bridge” the gender gap in the industry.
Although the gender gap and inequality that women face daily are a serious matter, humor was not absent from the replies. Many expressed their discomfort and suggested using comedy and memes.
Is The Crypto Community Just A Mojo Dojo Casa House?
Some suggestions in the replies included giving women a platform within the crypto space to share their experiences. This could encourage others to educate themselves about the industry and show that “it’s not just a bro club,” as a member of the community stated.
As a woman in crypto I thought this was a joke. Sweet Jesus how did this idea get through??
Why not just share more about the incredible females already in the space? Use your platform to elevate them so other women that are not yet in the space can see it’s not just a bro club
— Rondelle
(@rondelledesigns) March 6, 2024
Other companies have started initiatives to bridge the gender gap. Exchange and Web3 company Bidget announced in January 2024 its ‘Blockchain4Her’ initiative to support women inside the industry.
The project pledged to invest $10 million into female entrepreneur incubation plans, venture capital competitions, award ceremonies, and a blockchain women’s summit.
Moreover, the crypto industry is based on accessibility, democracy, and financial freedom. Bidget director Gracy Chen told Bitcoinist that “this original ethos should also apply to gender equality, as we are also working on building a space that is equally accessible to people no matter their gender, race, or religion.”
Despite being a male-dominated market, the number of women entering the industry has significantly increased. Recent reports show that women of all ages feel empowered to learn and become part of the community, especially in regions and countries prone to economic instability.
