Bacoin: A bacon-backed crypto promotion |

Bacoin: A bacon-backed crypto promotion

Peter Terlato 30 April 2018 NEWS

There are a limited number of Oscar Mayer Bacoins out there and their value increases via social media shares.

The latest company to take advantage of the current cryptocurrency craze is American meat and cold cut production company Oscar Mayer. They’ve just introduced the “Bacoin”, redeemable for actual packs of bacon.

As part of a new social media campaign, Oscar Mayer’s digital prophet Keith Sizzle introduced Bacoins.

Open to residents of the United States, the instant win game begins April 30 and ends on May 14, 2018. Users must register on Oscar Mayer’s Bacoin website. Once registered, users will receive one instant win game play for that day. If you’re lucky enough to score a Bacoin, you can share your success via a pre-populated Twitter message or email to help increase the value of all Bacoins. The value of the Bacoin is tied to overall sharing, meaning that the more people that participate in the promotion, the higher the value of Bacoins will be.

“If overall sharing is slow, the value of the Bacoin will decrease. If sharing is slow and the value of the Bacoin is low, the sponsor may increase the value of Bacoin at its sole discretion,” according to the website.

One slice to seven slices is equal to 0.5 lb pack of bacon. Eight to 14 slices is equal to one pack, 15-21 slices is 1.5 packs, 22-28 slices is two packs, 29-35 slices is 2.5 packs and 36-42 slices is equivalent to three packs.

The average retail value of the promotional prize-winning packs range from $4 through to $24.

As of 3:00 p.m. ET, one Bacoin is worth 15 slices of Oscar Mayer bacon, as can be seen in the graph below.

Image: Oscar Mayer

Each entrant that receives a Bacoin must “cash out” by May 21, 2018 at 11:59 p.m. ET or forfeit their prize.

The only way that this offer could possibly get any better would be if actor Kevin Bacon was somehow involved.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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