Binance a cryptocurrency exchange, has released a new advertising campaign in honor of International Women's Day. Launching a "CRYPTO" scent, the campaign hopes to start debates about the gender imbalance in the business.
Binance Exchange "Launches" Expensive Fragrances for IWD
With the announcement of its new initiative, Binance—one of the world's biggest exchanges—celebrated International Women's Day (IWD) and addressed the gender imbalance in the sector.
A marketing effort to spark a conversation about "what can be done to bridge the gap" and a Binance Academy starter course to assist women in beginning their crypto adventure are both part of the initiative.
Exchange officials are "on a mission to assist women across the globe in taking their initial steps in crypto" in honor of International Women's Day. Among these initiatives is the Binance Academy short quiz, which will award $25 in USDT to the first 5,000 women who complete it.
An X (previous Twitter) tweet initially hinted to the 'CRYPTO' scent on Tuesday. A "luxurious fusion of exotic ingredients including HODL, DYOR, YOLO, and LFG." that is how the perfume is described.
As part of Binance's 2024 International Women's Day (IWD) inclusion campaign, the perfume was confirmed to be a part of the announcement. In an effort to attract the attention of passing female customers, the exchange put up a perfume kiosk.
The video explains that the 'CRYPTO' stand aimed to "spark conversation" since "women are still not investing in crypto as much as men."
The majority of the ladies featured in the film said that they had not started their crypto adventure just yet. But they weren't afraid to show their interest in the industry, and they even hinted that a "fear factor" was the reason they were hesitant to go into cryptocurrency.
When Fragrances and Money Meet, It Sparks the Wrong Discussion
Everyone in the neighborhood was talking about the marketing plan. A number of individuals voiced their opinions on the campaign, with some speculating that this time around the exchange was off base.
Betty, whose Deadfellaz NFT line was a smashing hit, is front and center in this campaign that seems to be predicated on the notion that "pretty things" may entice women.
Community members reacted negatively to the ad because of its stereotyped tone, which may or may not have been deliberate.
Some commenters questioned Binance's actions to "bridge" the gender gap in the sector and the campaign's true objective, while others criticized the exchange for launching this portion of the initiative.
Despite the gravity of the issue, responses included humorous asides about the gender gap and the injustices women endure on a daily basis. Many voiced their unease and proposed incorporating humor and memes.
Is There More to the Crypto Community Than Meets the Eye?
One idea that came up in the responses was to create a forum where women working in the crypto industry could talk about their experiences. According to one community member, "it's not just a bro club." If more people knew about the business, maybe they would become involved.
A number of other businesses have also launched programs to help close the gender gap. The 'Blockchain4Her' program, launched in January 2024 by Bidget, an exchange and Web3 firm, aims to empower women working in the blockchain field.
A blockchain women's conference, award ceremonies, venture capital contests, and plans for female entrepreneur incubation will all get $10 million from the initiative.
The foundations of the cryptocurrency sector are openness, democracy, and financial liberty. To Bitcoinist, Gracy Chen, director of Bidget, said, "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."
The sector has seen a dramatic growth in the number of female employees, despite the fact that it is still mostly a male-dominated field. Especially in nations and areas vulnerable to economic upheaval, women of all ages are reportedly feeling empowered to study and integrate into society.
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