Binance Founder CZ Charges $125 in BNB for Messages on ReachMe
"I will adjust the price to try to get around 10 messages a day," CZ shared, after receiving many irrelevant messages when the initial fee was low.
Changpeng Zhao (CZ), founder and former CEO of Binance, has just introduced the "Pay to Reach" feature, allowing users to send him direct messages with the promise of a response, but for a fee.
The initiative was first mentioned by CZ in a Binance Square post earlier this month, to address the large number of messages he receives every day. According to CZ, the feature will help reduce irrelevant messages and create a more efficient way of communication.
The "Pay to Reach" system has officially launched, allowing users to directly message CZ and other Key Opinion Leaders (KOLs) through the ReachMe.io platform.
The service requires no registration and uses Binance's BNB token as the currency for transactions.
CZ initially set the fee at 0.04 BNB, then increased it to 0.1 BNB and then adjusted it back to 0.2 BNB after receiving many messages with no valuable content.
"I got spammed at the original price," CZ shared in his tweet. "Please don't waste your money like that."
He also said that he would adjust the price to ensure a reasonable number of messages, about 10 messages per day.
Paid users are guaranteed to receive a response from CZ within five days. If they don't receive a response, they will be refunded 50% of the amount they paid.
Currently, nearly 70 KOLs on ReachMe have set their own message prices, ranging from 0.01 to 0.2 BNB.
This model not only provides effective engagement, but also creates opportunities to monetize digital interactions.
CZ pledged that all BNB earned from this feature will be donated to charity. In the original post, CZ shared that "Pay to Reach" was born from his desire to optimize his reach, rather than focusing solely on time management.
CZ also commented that many social media platforms such as LinkedIn and X (formerly Twitter) have similar features, but the low barrier to entry makes them prone to spam.
However, this feature also raises questions about accessibility, as many users who cannot afford the fees may be excluded from the opportunity to communicate with influential figures in the industry.
However, this new system still encourages serious and quality conversations, but at the same time commercializes interactions that were previously free.
Since the “Pay to Reach” feature was announced, BNB’s value has increased by 0.6%, according to data from CoinGecko, showing the impact the news has had on the cryptocurrency market. However, BNB’s price has since retreated and is currently trading at $625.51 — down 0.4% from the previous day, according to CoinGecko.