After 100 years of making bacon and hot dogs, Oscar Mayer is paving the way in the burgeoning cryptocurrency landscape by introducing “Bacoin,” the first-ever cryptocurrency backed by the gold standard of Oscar Mayer Bacon. Last week, the cold cuts and meat company announced it is giving away a limited amount of Bacoin that fans can mine, track the value of and cash out for real packs of Oscar Mayer Bacon at OscarMayerBacoin.com.
And who better to talk about “Bacoin?” None other than fictional spokesman, Keith Sizzle, who calls himself a digital prophet and talks about “insanely good bacon” in his yellow hipster specs. Apparently, Sizzle’s apps have topped every app store, and he’s made his name by constantly changing the game. With Oscar Mayer’s help, Keith is releasing these “Bacoins” to the public for a very limited time and you can be a part of it! Watch his very funny announcement below:
Bacoin is Oscar Mayer’s latest disruptive innovation, following past campaigns including Sizzl, the dating app for bacon lovers, and Wake Up & Smell the Bacon, an Oscar Mayer bacon-scented alarm clock. Similar to other cryptocurrencies, the value of Bacoin can be volatile. However, Bacoin stands out by the fact that Bacon lovers can boost value by spreading the news via Twitter and email on the website. The more they share, the greater Bacoin is worth. When ready, Bacoin owners can select the best time to cash out and receive real packs of Oscar Mayer Bacon.
“To generate excitement and relevancy for a 135-year old meat company, we piggybacked off of one of the hottest trends of 2018: cryptocurrencies. Not only was it popular, it created the perfect platform to help showcase our packs of bacon for the hot commodities they truly are,” mcgarry ACD David McCradden tells Reel Chicago. He added, “But that meant that ‘Bacoin’ couldn’t simply be a stunt. So, we built a real, functioning digital currency, from the ground up, that participants could actually mine and earn real bacon from. And people have responded.”
“Oscar Mayer is the gold standard of bacon because of our dedication to hand-selecting the best cuts and then naturally sugar curing and naturally hardwood smoking our bacon,” said Matt Riezman, brand manager for Oscar Mayer. “Add to that our proven expertise in the bacon-tech space, ‘Bacoin’ is poised to deliciously revolutionize the cryptocurrency market.”
Like other cryptocurrencies, this 2:17 has its highs and lows. It’s overall very out there, and we all know how I love out there and it does have bacon, which makes up for when it starts to drag a little bit. However, it’s only a little and that makes this “Bacoin” valuable to Reel Ad of The Week.
According to NEWSBTC, which delivers updates and analyses on Bitcoin, a 27-year-old IT worker from Michigan named Kirk Steele says he created a cryptocurrency called ‘Bacoin’ that was designed to be ‘backed’ by bacon in 2014. The coins, just like Mayer’s “Bacoin,” were meant to be able to be redeemed for strips of bacon.
Last Monday, Steele sent the Bacoin promotion administrator, HelloWorld Inc., a cease-and-desist letter demanding the company stop the promotion or face legal action.
Steele, who spoke with Motherboard, said that he was moved to take action despite his Bacoin project being far from complete because he feels that Mayer’s promotion is a ‘gag.’ Steele’s Bacoin was decommissioned and then revived last year, but as of yet Steele has not found a local meat company that will trade their bacon for his token. Stay tuned to Reel Chicago for updates.
Client: Oscar Mayer
Agency: mcgarrybowen Chicago
Chief Creative Officer: Kurt Fries
Group Creative Directors: Doug Behm, Todd Brusnighan
Associate Creative Directors: David McCradden, Rob Neveau
Senior Copywriter: Matt Frierdich
Director of Content Production: Steve Ross
Manager, Music Production: Carol Riffle
Senior Music Producer: Brandy Ricker
Talent Supervisor: Jamika Logan
Director of Business Affairs: Joann Baker
Sr. Business Manager: Alica Townsend
Executive Director, Planning Department: Shawna Ross
Strategy Director: Andra Mocanu
Senior Strategist, Social Media: Ashley Fowler
Strategist: Corthay Schock
Community Manager: Allison Helberg
Group Managing Director, Account: Tom Smith
Account Director: Randi Schwieger
Account Executive: Claire French
Assistant Account Executive: Lauren Prospect
mcgarrybowen Studio Production/Post Production
Producer: Tracy Tran
Director: Matt Monahan
Editor: Matt Monahan
VFX: Jason Rohler
Colorist: Jason Rohler
Audio: Nealle DiPaolo
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