Bosses were left red-faced when they discovered the British slang definition
(Picture: Getty Images)If we can learn anything from social media, it’s that the internet has a phenomenal ability to transform innocent mishaps and marketing mistakes into overnight viral sensations.
Bosses at a US-based start-up crypto company experienced this first hand, after being highlighted online for their unfortunate choice of the company name. Brits left the company feeling a little red-faced when they piled in after noticing its name ... Nonce Finance.
While in the crypto world, a ‘nonce’ is an abbreviation of ‘number only just once’ which is often used in the context of cryptocurrency mining, in British slang, it means sex offender or paedophile.
From the official Twitter account, ‘Nonce Finance’ took the memes in good humour.
Lesson learnt. Next time will look at British meaning of words too. Thanks for the memes🙏https://t.co/ezgKJzzHHk pic.twitter.com/S9RlTZOVV8
— Nonce Finance (@noncefinance) July 5, 2021
They have also since updated their Twitter bio to say, “Struggling with brand names” and tweeted a poll to see those in favour of the company changing their name ( so far it’s a slim majority of 52.3 per cent).
Should we change our name?
— Nonce Finance (@noncefinance) July 5, 2021
British Twitter, however, broke into hysterics and the memes spread like wildfire.
'Find the Nonce' genuinely sounds like an 80s playground game
— Stickorhubarb (@stickorhubarb) July 5, 2021
Like the majority, one person is desperate to understand the thought process behind the name and wants to see the ‘board presentations and email chain’ that led to the decision.
How much do I want to see the board presentations and email chain that led to a crypto company with a market cap of $7 billion launch a new proposition called NONCE FINANCE? pic.twitter.com/fydorjjnA3
— Chris McCrudden (@cmccrudden) July 5, 2021
Comedy writer, James Felton, mocks the company’s ‘confidence’ that they ‘think you’ll be willing to ignore the fact that their name implies they are paedophiles’.
You're all mocking Nonce Finance but it shows a lot of confidence in their abilities that they think you'll be willing to ignore the fact that their name implies they are paedophiles https://t.co/rHZ2eEdPb5
— James Felton (@JimMFelton) July 5, 2021
Another mocked the name - emphasising the importance of research before launching any type of business online.
Nonce Finance: where your investment never reaches maturity. https://t.co/4eFfxlEmuz
— Dan (@JeSuisUnDan) July 5, 2021
For one user, the mishap was reminiscent of a Scandinavian stationery company that opted for this unfortunate logo for their company, ‘Locum’.
That company naming itself ‘Nonce Finance’ has reminded me of the time a Scandinavian stationery company called ‘Locum’ chose this as their logo. pic.twitter.com/439ZIEsbak
— Amanda (@Pandamoanimum) July 5, 2021
One meme pictured Jimmy Savile (a prolific sex offender in the 60s, 70s, and 80s) as an employee at the newly-founded crypto company.
“Hello, Nonce Finance. How can I help you?” pic.twitter.com/Gl0EjrDI4P
— Ben (@BenDunnell) July 5, 2021
While another was still in utter disbelief.
IM SORRY IS IT LEGIT CALLED 'NONCE FINANCE' ?????? https://t.co/8HIvIJ6Wcf
— Conor 💭 (@ConorTweetsHere) July 5, 2021
Research is key, every time.
