Bring Home the Bacoin? Oscar Mayer Debuts Crypto Campaign

It may sound like baloney, but American meat maker Oscar Mayer has entered the cryptocurrency space - sort of.

The company announced on Monday the unveiling of "Bacoin," which it is calling "The first-ever cryptocurrency backed by the gold standard of Oscar Mayer Bacon."

With the initiative, Oscar Mayer is offering bacoins as a kind of incentive to get users promoting the brand's meat products on social media and email.

Through the company's official website, users "Mine" bacoins that become worth more - denominated by slices of bacon - as consumer awareness is increased.

Accompanying the campaign is a new commercial pitching the bacoin.

Bacoins can then be cashed out by customers for real packs of bacon, according to the company.

As of press time, the value of a single bacoin is worth three slices of the company's bacon, according to its official price tracker.

"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," the company's brand manager, Matt Riezman said in a statement.

With the move, the 130-year-old Oscar Mayer becomes the latest food company to jump on the cryptocurrency branding bandwagon.

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