Image Source: AdAge
By: Michael Argenta
February 20, 2022
On February 13th, Super Bowl LVI occurred. However, while Matthew Stafford and the Los Angeles Rams hoisted the Lombardi Trophy, millions of viewers got into the cryptocurrency craze. In a 60-second ad played during the game, Coinbase, a cryptocurrency app, boosted its downloads 309% week-over-week with an expensive yet simple ad.
Many people that watched the Super Bowl will recall the intriguing commercial featuring a colorful QR code bouncing around their screen. However, there was a catch to this ingenious marketing plan: Coinbase encouraged viewers to scan the code prompting them to create accounts and claim $15 free dollars of Bitcoin (BTC). While this is a small amount, as one whole Bitcoin is worth $40,656.70, at the time of writing, this was the first time many people dove into the digital asset. Although this offer only lasted until Wednesday, Coinbase offered new users another opportunity to enter for a chance to win $3 million in Bitcoin as an additional promo. Clearly, it seems like the company is eager for new customers.
In addition, other crypto apps seem to have won the Super Bowl too. eToro and FTX also saw an increase in use after commercials featuring weird concepts and even Larry David. eToro week-over-week downloads went up by 132% while FTX gained a 130% boost. Obviously, Super Bowl ads continue to work and these companies are certainly happy with the results.
Overall, reaching new users is what anyone wants to do in business. Sometimes it takes a flashy advertisement or giveaway, but consumers will try new things. This Super Bowl may not make everyone rich off of Bitcoin, but it will inspire some to learn more about the alternative investment. And yes, I claimed my $15 of Bitcoin immediately. It was too hard to pass up!