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Binance Declares Winners Of Creative Logo Competition Announced Earlier In April

Written By 
April 29, 2019
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Crypto companies have lately been taking inspiration from their traditional counterparts, especially in terms of laying down marketing strategies. The crypto space influencers and leaders mostly include people who are experts on the technical front but at as much effective in marketing, which makes them take ideas from traditional businesses.

Two of such marketing tricks, which are gaining significant traction in the crypto space competitions and giveaways. Several crypto platforms have announced various interesting programs through which people can easily taste the cryptocurrency world. World’s largest crypto exchange, Binance announced a such a competition earlier in April, which lured users into getting into the market. It announced the #MyBinance contest, which required users to recreate the Binance Logo innovatively, and then post it on Twitter, using the hashtag.

Such competitions have become a common norm on various crypto platforms, especially after the market collapse of 2018. These competitions lure users to step on the crypto scene and experience what it is to be like in the community. Last week, crypto trading platform announced a competition for new and existing users, in which it would giveaway Apple AirPods and Bose QuietComfort II.

Following the tweet, the Japan-based crypto platform received hundreds of thousands of applications, and on Sunday, Binance declared the winners of its contest, via Twitter. The exchange announced three winners, first, second & third, via its official Twitter account.

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The price of $50, as per the tweet, was first awarded to Alpha3Crypto for being “The Most Creative#88

The second prize was awarded to KCB 21, a Twitter user, who got $100 worth Ethereum as prize money. KCB 21 had created a Binance Logo in the form of a  delicious cake.

Oshi Watanabe took the third position for her jungle theme based Binance Logo. She, too, was awarded Ethereum worth $100.

Binance Exchange is the leader of crypto exchange platforms. Experts have time and again stated that it is the market mover, meaning that what Binance does, others follow. Example of this could be the recent feud between Craig Wright and Binance CEO Chang Zhao, over Wright’s claim of being Satoshi Nakamoto. After Zhao delisted Bitcoin SV, from Binance Exchange, several other platforms followed it and implemented similar steps to delist BSV.

This shows the influence of Binance in the crypto space, which makes it’s every move extremely important for the market at large. Crypto platforms luring users to register themselves on the platform, or as in BRD’s case, trade cryptocurrency for a stipulated amount makes give users the much-needed motivation to enter crypto trading.

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Crypto markets are expected to grow exponentially in the next few years, and the race has begun to capture as much user base as possible. Despite the market crash last year, the crypto space at large grew at a healthy rate. Therefore, applying traditional marketing tricks in crypto businesses models is not only an experiment but also a necessity.

Scott CookbyScott Cook
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