In a bid to engage more women in the crypto space, Binance, one of the leading cryptocurrency exchanges, launched a crypto-themed perfume named "CRYPTO" in conjunction with International Women's Day.
The Fragrance of Controversy
Described with notes ranging from ozone to musk, "CRYPTO" is more than a scent; it was aimed to be a symbol of Binance's larger effort to attract women to the crypto space.
Thereโs still not enough women in crypto.
— Binance (@binance) March 6, 2024
We've launched our new fragrance โCRYPTOโ as a new way to open up conversations with the public on what needs to be done to bridge the gender gap.
Find out more ๐ https://t.co/z2ICGrhSnC pic.twitter.com/LDTtLWME4o
The campaign for the perfume included pop-up sampling events and a promotional offer for the first 5,000 women to complete a beginner course on Binance Academy has sparked widespread criticism, highlighting a disconnect in efforts to genuinely include women in the crypto community.
Community Backlash: A Call for Meaningful Inclusion
The crypto community's response to Binance's campaign has been overwhelmingly critical, comments from various community members reveal a consensus that perfume does little to bridge the gender gap in crypto, instead, there's a clamor for actions that recognize and value women's expertise, contributions, and potential in shaping the future of finance and technology.
Bitchhhhhhhhhhhhes women donโt want perfumeโฆ
— ๐ฐ๐๐๐๐๐๐ ๐ฟ๐๐๐๐ ๐๐ค (@EmpressTrash) March 6, 2024
We want you to value our technological, intellectual, cultural and art contributions for what they are worth
We want to be included in history instead of written out
We want you to treat us like humans instead of objects or charityโฆ
"Women donโt want perfumeโฆ We want to be included in history instead of written out," reads one of the many critiques highlighting the superficiality of the gesture, another comment sarcastically suggests, "Let us lure in the women folk with pretty smells, surely then they will be interested in decentralized finance."
Let us lure in the women folk with pretty smells, surely then they will be interested in decentralised finance. More of this. This is how we bridge the gender gap. MORE PERFUMES. ๐๐ญ https://t.co/NMLoDxziF5
— BETTY (@betty_nft) March 6, 2024
These reactions underscore a broader issue within the crypto industry: the need for strategies that truly address gender disparities, rather than token gestures disconnected from the real challenges women face in this field.
Beyond Perfume: What Real Inclusion Looks Like
For the crypto industry to thrive as a diverse and inclusive ecosystem, platforms must go beyond superficial initiatives, hiring women for their expertise, ensuring they have a voice in key discussions, and creating safe, welcoming environments are critical steps.
Maybe ditch the lip service about wanting more women and actually hire the brilliant ones already here to be part of your marketing team cause... what is this? ๐ https://t.co/V3fV9IETiG
— หหห Shavonne Wong หหห โจ(NFT Asia/Bloom) (@shavonnewong_) March 7, 2024
As one community member poignantly put it, "Maybe ditch the lip service about wanting more women and actually hire the brilliant ones already here."
Binance's "CRYPTO" perfume campaign serves as a cautionary tale of how not to market to women in tech, the path to gender equality in crypto is not scented with perfume but paved with actions that respect, include, and elevate women's contributions and leadership, as the industry moves forward, let this moment be a reminder of the importance of authentic engagement and the value of listening to and addressing the needs of all community members.
