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Oscar May­er Just Cre­at­ed Bacoin, a Cryp­tocur­ren­cy You Can Redeem for Bacon (Seri­ous­ly)

Image result for Oscar Mayer Just Created Bacoin, a Cryptocurrency You Can Redeem for Bacon (Seriously)

Oscar May­er is trad­ing in its wee­nie whis­tle for some­thing kids these days actu­al­ly want.The Wis­con­sin-based cold cut behe­moth just launched a pro­mo­tion­al cam­paign for its bacon line that fea­tures its own cryp­tocur­ren­cy. Bacoin (BACN), as it’s called, is legit­i­mate­ly backed by bacon, giv­ing new mean­ing to the phrase “legal ten­der.”

Yep, the promotion’s hype man, Kei­th Siz­zle, boasts in a video adver­tise­ment that the the coin “pays out with the gold stan­dard of bacon,” Oscar May­er brand strips of cho­les­terol-infused hog meat. As of yes­ter­day, April 30, will­ing par­tic­i­pants can reg­is­ter for the coins on Bacoin’s pro­mo­tion­al web­site. Those for­tu­nate enough to win a fat-backed coin can then redeem it for actu­al bacon per Bacoin’s mar­ket val­ue. At the time of writ­ing, one BACN nets you 14 strips, down from an impres­sive 42 strips in the wee hours of May 1.

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,” the promo’s web­site reads. “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 luck­ing win­ner.”

By “min­ing,” the com­pa­ny mere­ly means reg­is­ter­ing for the Bacoin give­away. The ini­tia­tive also implores users to share the pro­mo­tion on Twit­ter to prop up Bacoin’s val­ue, as “the val­ue of the Bacoin is tied to over­all shar­ing mean­ing that the more peo­ple who share via the Website…the high­er the val­ue,” the promo’s offi­cial rules state. As this loose def­i­n­i­tion for min­ing and empha­sis on social media aware­ness sug­gest, the cam­paign, which ends on May 14, is sole­ly for pro­mo­tion­al pur­pos­es as Bacoin retains no real mon­e­tary val­ue.

Still, Oscar May­er isn’t dress­ing up the ini­tia­tive to be any­thing more than it is. Rather than change their name to some­thing blockchain relat­ed or launch an ICO, the com­pa­ny has trimmed the fat and is stick­ing to what it knows: a flashy, bor­der­line-absurd pro­mo that speaks for itself, much like the famous Wiener­mo­bile.

First the KFC Bit­coin Buck­et and now this, expect more com­pa­nies to cash in on crypto’s pop­u­lar­i­ty with sim­i­lar mar­ket­ing ploys. One thing’s for sure, Oscar May­er has cap­tured the web’s atten­tion with this bacon-wrapped stunt, and even if no one redeems Bacoin for its greasy prize, the online campaign’s fif­teen min­utes of fame is a PR suc­cess enough.


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