The biggest cryptocurrency exchange in the world, Binance, is well-known for its importance in the industry and is currently in the news not only for its financial dealings but also for its unexpected venture into the fragrance industry. Unexpectedly, the marketing division of Binance has started a novel campaign to honor International Women’s Day and inspire women to explore the world of cryptocurrencies through an unusual avenue: their sense of smell.

The Difficulties Binance Faces

Recognizing Binance’s difficulties is crucial before embarking on this fragrant journey. Following the company’s and its co-founder Changpeng Zhao’s recent guilty plea to money laundering charges, the U.S. Department of Justice levied a whopping $4.3 billion fine. The exchange’s American division, Binance.US, suffered major difficulties including personnel layoffs and a sharp drop in trading income. Notwithstanding these difficulties, the global exchange for Binance had its greatest transaction volume in six months in February, demonstrating the tenacity of the industry leader in cryptocurrencies.

“CRYPTO” or “Eau de Binance” is the fragrance.

One of Binance’s boldest marketing campaigns is the launch of a scent called “CRYPTO,” or “Eau de Binance.” Designed to dispel misconceptions about the cryptocurrency business, the fragrance has a composition that combines ozone, salt, and moss notes that are refreshing and create a windy feeling. The base notes bring in Amber, Woody, and Musk, creating a warm, musky-sweet, earthy scent, while the heart notes showcase an opulent blend of Oud, Mandarin, and precious woods.

International Women’s Day marketing

The aim of the campaign, according to Binance’s Chief Marketing Officer Rachel Conlan, is to be irreverent, entertaining, and boundary-pushing. With a sarcastic and satirical tone, the fragrance ad was launched in honor of International Women’s Day with the goal of luring women into the cryptocurrency field. The company is aware of the gender gap in the cryptocurrency space, where women make up only 27% of workers at leading crypto startups and only 7% of web3 founders.

To get attention, the marketing uses the humorous idea of a scent with crypto influences. Binance produced about a hundred bottles of the perfume, not for sale but rather for women to sample in pop-up stores in a Bahraini shopping mall. The underlying promotion gives $25 in USDT to the first 5,000 women who complete a basic course on Binance Academy, notwithstanding the ridiculousness of a cryptocurrency perfume.

Taking Issues and Intentions Seriously

Conlan responds to worries that the advertisement would flatten women into stereotypes by saying that it is meant to be playful and lighthearted. The purpose is to disprove the notion that men predominate in this field by using codes from the fragrance and beauty industries to draw attention to cryptocurrency.

Binance’s entry into scent is an attempt to bring fun and sarcastic commentary to a serious problem – the gender gap in the cryptocurrency business, even though the campaign may cause mistrust and raise questions. It remains to be seen if a whiff of “Eau de Binance” can actually dismantle barriers and inspire more women to pursue careers in finance. Unconventional methods could be required in the dynamic world of cryptocurrencies to dispel prejudices and advance inclusivity.