With the launch of its luxury fragrance CRYPTO, the blockchain ecosystem and well-known cryptocurrency exchange Binance unveiled its newest initiative to promote more female involvement in the sector by fusing luxury products with finance.
In an effort to increase the company’s diversity, Binance’s female marketing executives stated on March 6 that they will be launching a marketing campaign featuring a luxury smell in time for International Women’s Day on March 8.
The company’s inclusion campaign, “Crypto is Yours,” used the CRYPTO fragrance in a set of opulent advertising. According to Binance, the tactic challenges the “norm” in the cryptocurrency market while taking “inspiration from the conventions of beauty advertising.”
Chief marketing officer at Binance, Rachel Conlan, stated that she has personally witnessed the “invaluable contributions” made by women in the cryptocurrency industry.
“We want to encourage women everywhere to take action and not just watch. Climb over obstacles, question preconceived notions, and join the digital revolution that will reshape the global finance industry.”
She went on to say that it’s a message to women that “they have a significant role to play in the crypto revolution,” rather than just being a smell.
Encouragement of more women to investigate the cryptocurrency business is the “core component,” according to Binance. Additionally, $25 in USDT will be given to the first 5,000 women who finish one of their introductory crypto courses.
Conlan underlined that since cryptocurrency is “universal,” everyone should have the ability to engage in the market.
Prior to this year’s International Women’s Day, He Yi, a female co-founder of Binance, gave advice to people wishing to enter the field to “forget gender” and concentrate on mindset in order to succeed in Web 3.
Not all cryptocurrency platforms are aiming to serve the female market in 2024, including Binance. The cryptocurrency exchange Bitget announced on January 16 that it will provide $10 million to Web3 firms managed by women as part of the Blockchain4Her program, which supports inclusivity and gender diversity in the sector.
A Jan. 11 research from Bitget Research states that only $1.77 billion, or around 6.43%, of the $27.85 billion in Web3 VC funding from Q1 2022 to Q3 2023 went to women-led or -created firms.
Less than 9% of all Web3 startups were led by women, which is indicative of the efforts made by many of the main industry leaders to promote female participation.
