At the end of July Mcdonald’s announced about issuing a global currency McCoin to celebrate the 50-year jubilee of Big Mac. The list of countries where you can get these coins includes 58 states, and China is among of them.
On August 3, the official announcement of creating Mcdonald’s Commemorative Coin in China was released by Mcdonald’s Shanghai on the website.
On August 6, about 1 million coins were delivered to the 2500 Mcdonald’s cafes. The distribution of McCoins started at 10:30. The Chinese were so overwhelmed with this campaign, that enormous queues appeared in the streets. According to the local media report, people in the lines even fainted because of the hot wheather outside.
McDonald’s employee told reporters on the 7th of August that all coins were fully distributed in just one day.
On August 7, the topic of “McDonald’s Commemorative Coin was snapped up” was posted on Sina Weibo’s hot search list. There appeared ads of selling McCoins in WeChat (Chinese social network) and secondary Taobao (giant e-commerce platform). At present, the price of a commemorative coin on the second-hand platform has been raised to 500 yuan or even higher. The price has skyrocketed by almost 30 times. Sets of McCoin are sold at the price of 10000 yuan (around $1500).
A hot discussion on what to do with these coins has started among the netizens. Some of them don’t bear selling of them, as they have collectional value, others don’t see any point in buying a burger for 800 yuan, some people are making fortune by selling them.
There were rumors that McDonald’s planned to issue its own digital currency. Today, in an interview with reporters, McDonald’s China Chief Data Intelligence Officer, Cai Dong, has refuted this statement:
“McDonald’s has never cooperated with the exchange, which is completely a rumor. McCoin issued by McDonald’s is a physical collection coin. Consumers go to the store to sing birthday songs to get coins. The average store has 400-600 stores, a total of 2800 stores. Customers can choose to collect or exchange them into Big Mac. They can be exchanged in 50 countries before the end of the year. ”
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