The latest Coinbase Super Bowl Ad that featured a QR code resulted in a temporary crash of this digital currency application. The minute long Coinbase ad showed a colorful QR code floating all over the screen, replicating the bouncing DVD logo that was often seen in the early 2000s. But why is this so hyped up?
The Coinbase Super Bowl Ad Hype
The Coinbase Super Bowl ad YouTube had a QR code that was floating all over the screen. Those who scanned that code were taken to a link that provided the viewer with $15 in Bitcoin completely free to anyone who created their crypto account with Coinbase before 15 Feb and allowed the participants to enter into a $3 million giveaway. The last few seconds of that commercial revealed that the advertisement was for Coinbase. A tweet from the Chief Product Officer of Coinbase Surojit Chatterjee stated that the company had faced more traffic on Sunday than it had ever seen before. According to him,
“Coinbase had to throttle traffic for a few minutes.”
But then he noted that the operations were soon back and running. According to Chatterjee, the landing page of the entity witnessed over 20 million hits in a single minute, terming it static “historic and unprecedented”. He also confirmed that the engagement increased six times compared to the previous benchmarks. He further added,
“We’re ready for you at drops.coinbase.com.”
Stock Update After Coinbase Super Bowl Ad QR Code
At times it is possible for a commercial to be too successful and the stocks of Coinbase are paying the price. The Coinbase YouTube ad run by Coinbase Global (COIN) included a QR code that sent the viewers to their website. While some criticized the commercial as confusing, a huge number of viewers understood it and received the freebies that it offered.
Soon after that, the stocks of Coinbase fell 1.7% to $191.26 at 6.23 a.m. in permanent trading and it is quite possible that shares are reacting to the inability of the company to handle this much traffic on their website. On the contrary, Coinbase seemed to have received what it paid for with the Coinbase ad.
The reduction is more likely a reflection of a punch of Weakness in BTC which has decreased by 0.2% and in the share market where S&P 500 futures are off 0.9%, and there has also been a decline of the Nasdaq Composite futures of 1.1%.
The Idea Of Super Bowl Advertisements
Super Bowl advertisements, commonly known as Super Bowl ads, are high-profile TV commercials that are shown in the U.S. television broadcast of the Super Bowl, which is the championship game of the NFL (National Football League). Super Bowl ads have become a cultural phenomenon of their own along with the game itself, as many audiences only watch the game to see the ads.
Super Bowl commercials have become iconic and popular because of their unpredictability, surreal humor, cinematographic quality, and use of special effects. The employment of celebrity cameos has also been familiar in Super Bowl ads. Some commercials that are aired during, or proposed to air during the game, have also brought in controversy because of the nature of their content. Presently, this type of ad is also being used in the crypto space to attract users for any specific reason, and what can be a better example than the latest Coinbase Super Bowl Ad instance.
Conclusion
Coinbase, which is one of the leading cryptocurrency exchanges, just made its Super Bowl debut with a great QR code advertisement that might have been very famous. The “Less talk, more Bitcoin” campaign by the company seems to have temporarily knocked out its applications. This Coinbase Super Bowl ad attracted huge traffic to their website and was quite successful.
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