Recently, the founder and former CEO of Binance, Changpeng Zhao (CZ), introduced a new communication feature called "Pay to Reach" to improve the interaction between individuals and himself. This feature allows users to send direct messages to CZ for a certain fee.

CZ launches "Pay to Reach"

This feature was announced on Binance Square 18 days ago and is designed to help CZ manage the enormous number of messages he receives daily. "Pay to Reach" operates through the ReachMe.io platform, where users can pay 0.2 BNB (formerly known as Binance Coin) to send a direct message to CZ with a commitment to receive a response.

Based on the current BNB price of 627.03 USD, the cost for one message is about 125 USD. This is likened to the "cheap version of lunch with Warren Buffett," giving users the opportunity to directly connect with a highly influential figure in the cryptocurrency industry.

The reason for the creation of "Pay to Reach"

According to CZ, the number of messages he receives each day is too large, with most of them being short or lacking valuable content. Initially, he set a fee of 0.1 BNB, but still woke up to over 100 messages each day. To control the number of messages and encourage more quality conversations, CZ raised the fee to 0.2 BNB. His goal is to adjust the price to maintain about 10 messages per day.

This feature not only helps CZ manage communication better but also creates a new mode of communication within the Binance ecosystem. Using BNB as a payment method could increase its utility and demand for this cryptocurrency.

Influence and growth potential

Not only CZ, but over 100 influential people (Key Opinion Leaders - KOLs) have joined the ReachMe.io platform, setting a message fee from 0.01 to 0.2 BNB. The fee for interacting with celebrities not only helps reduce spam messages but also opens up a new avenue for communication and earning in the cryptocurrency community.

Nevertheless, some people remain skeptical about this feature. Some users questioned: "Isn't this just time.fun?" – referring to another platform with a similar mechanism that already exists in the market.

In addition, ReachMe.io also asserts that they do not have an official token. Users are warned to be cautious of self-proclaimed tokens linked to ReachMe.io, as they may be scams.

The controversies surrounding "Pay to Reach"

"Pay to Reach" was launched in the context of Binance facing several controversies. Previously, CZ's first transaction on the decentralized exchange (DEX) with the meme coin TST caused its price to rise by 50%, demonstrating his significant influence on the market.

In addition, the strong volatility of the cryptocurrency market raises questions about the transparency and fairness of transactions conducted by highly influential individuals.

The commercialization of direct communication with celebrities has also sparked debates about fairness and access to information. While this model helps reduce spam messages and enhance communication quality, it may also make contacting important figures more expensive and less accessible to the wider community.

CZ emphasized that there is no need to register an account to use ReachMe.io; users only need a cryptocurrency wallet to make payments. "The fee is the gatekeeper," CZ shared.

Impact on BNB price

Although the "Pay to Reach" feature is expected to increase the utility of BNB, the price of this token has not shown signs of recovery. In the past 24 hours, the price of BNB has dropped nearly 1%, indicating that broader market factors may be affecting the value of this token more than new applications.

Conclusion

The launch of "Pay to Reach" reflects a new trend in the cryptocurrency field: personalizing and commercializing online communication. Although there are still many controversies, this feature may help minimize spam messages and enhance the quality of interactions between influential figures and the community. However, questions of fairness and accessibility will remain a topic of discussion in the future.