Crypto is all the rage, and companies are trying to hop aboard the hype train.
US-based meat product manufacturer and household name, Oscar Mayer, has launched a new marketing and advertising campaign that hopes to catch a ride along the cryptocurrency hype train.
The new ad made its debut this week, featuring a Bitcoin alternative dubbed “Bacoin” that Oscar Mayer is calling “the first-ever cryptocurrency backed by the gold standard of Oscar Mayer Bacon.” The goal of the Bacoin campaign is to attempt to encourage viral sharing on social media, to spark additional interest in their bacon and other meat products through alignment with cryptocurrency.
Bacoin can be “mined” on Oscar Mayer’s official website, and as more and more people take interest, the ‘price’ of Bacoin (BACN) – currently valued at 15 BCNS (slices of Oscar Mayer bacon) – increases with demand. The official website reads:
“As the gold standard of bacon for the past 100 years or so, Oscar Mayer is the only leading authority to help lead bacon into the future of tomorrow - by creating a currency today. So, we're releasing a limited number of Oscar Mayer Bacoins, all redeemable for packs of real Oscar Mayer Bacon. Even better, you help control the value of each Bacoin! If that sounds pretty tasty to you, start mining today and see if you're a lucky winner.”
Bacoins can be redeemed by customers for actual bacon.
The marketing campaign is comedic parody on bitcoin, with Bacoins spokesperson donning the name Keith Sizzle. Both bitcoin and bacon share in social media popularity, so combining the two with some comedy, Oscar Mayer could have their most effective advertisement since the classic “I wish I was an Oscar Mayer wiener” song that made the brand famous.
Oscar Mayer is not the only food company to bank on cryptocurrency’s popularity. This year, KFC Canada offered up a ‘Bitcoin Bucket’ of chicken to their customers.