Binance to make crypto smell good with new fragrance for Women's Day

The blockchain ecosystem and popular cryptocurrency exchange Binance revealed its latest move to encourage more women to participate in the industry by blending high-end goods with finance through its new luxury fragrance, Crypto. 

On March 6, Binance’s female marketing leaders announced their attempts to broaden the company’s inclusivity efforts, focusing on attracting the attention of women with a marketing campaign starring the luxury scent in time for International Women’s Day on March 8.

The Crypto fragrance was initially part of a series of luxury advertisements for the company’s inclusivity campaign, “Crypto is Yours.” Binance said the strategy draws “inspiration from the conventions of beauty advertising” while challenging the “norm” of the crypto space.

Rachel Conlan, the chief marketing officer at Binance, said drawing from her own experience in the crypto space, she’s seen the “invaluable contributions” of women firsthand.

“We’re here to tell women everywhere: Don’t be a bystander. Break those glass ceilings, challenge existing narratives and become part of this digital transformation that’s set to redefine global finance.”

She added it’s not just a scent but a message to women that “they have a significant role to play in the crypto revolution.”

Binance said that the “core component” of the initiative is to encourage more women to explore the crypto industry. It plans to also reward the first 5,000 women who complete one of their beginner crypto courses with $25 in Tether (USDT).

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Conlan emphasized that crypto is universal and all individuals should be empowered to participate in the space.

In 2023, in the lead up to International Women’s Day, Cointelegraph spoke with Binance’s co-founder He Yi, who, as a woman, advised those looking to get into the space to “forget gender” and focus on mindset to make it in Web3. 

Binance isn’t the only crypto platform seeking to cater to the women demographic in 2024. On Jan. 16, the cryptocurrency exchange Bitget pledged to allocate $10 million to go toward women-led Web3 startups through the Blockchain4Her initiative that promotes gender diversity and inclusivity in the industry.

According to a Jan. 11 report from Bitget Research, women-led or created startups received only $1.77 billion of the $27.85 billion in Web3 venture capital funding between the first quarter of 2022 and the third quarter of 2023, accounting for roughly 6.43%. 

Female-led Web3 startups comprised less than 9% of all startups in the space, which speaks to the efforts of many of the major industry players to encourage participation by women.

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