Coinbase Super Bowl Ad Attracts Historic Numbers

The ad resulted in over 20 million hits in less than a minute, which caused Coinbase’s website to crash.

Coinbase, the largest cryptocurrency exchange in the UK, recently used an opportunity to advertise free Bitcoin during Super Bowl LVI. The exchange attracted 20 million users in a single minute. The Super Bowl is the most popular sporting event in the US, and it never ceases to attract innovative advertising. However, while the event featured a diverse array of commercials, Coinbase’s efforts were nothing less than historic.

Coinbase opted to use its 60-second window to display a QR code which simply bounced around a black backdrop, similarly to old DVD player screen savers. When viewers scanned the QR code, they were led directly to the exchange’s website, where the exchange granted them $15 in Bitcoin, provided they were a new user of the platform.

If an existing user scanned the code, they were granted the opportunity to sign up for a $3 million sweepstakes giveaway.

Coinbase Website Crashes Due to Overwhelming Demand

The exchange’s commercial stood out for its simplicity. Most other ads were lavish and often full of celebrities, such as FTX’s ad which featured Larry David. Coinbase; however, chose to go with a less is more approach to attract the attention of viewers. Ironically, the ad may have been too effective, as numerous users reported being unable to reach the exchange’s website due to greatly increased traffic. The overwhelming demand even surprised Coinbase, who discovered its site was unable to effectively scale to accommodate millions of simultaneous users.

According to the popular platform’s Chief Market Officer, Kate Rouch, over 20 million people attempted to access the exchange during this minute of advertising. This amount is more than six times higher than the second-largest load that the platform has grappled with in the past. No wonder the Coinbase site crashed.

Rouch added that the company’s engineering team had conducted tests in order to confirm that the platform would be able to handle millions of simultaneous hits; nonetheless, Coinbase found itself unable to properly deal with the spike in demand. Despite the technical difficulties, Coinbase is extremely proud of their advertising achievement. And they have company: a panel of judges from the Clio Awards announced that Coinbase’s ad was chosen as the best advertisement to run during this year’s Super Bowl. The Clio Awards named the ad “Less Talk, More Bitcoin,” while Coinbase had a different name for it — WAGMI (We’re all gonna make it). Furthermore, Accenture Interactive–the company that produced the ad for the exchange–is being awarded for its creative excellence.

The Community’s Reaction

The community’s reaction to the ad ranged from praise to surprise, and even to frustration; after all, the website went down as a result of the demand. The well-known whistleblower, Edward Snowden, found himself among the critics, tweeting that Coinbase spent $16 million on the ad that will direct people to its platform and $0 on ensuring that the website will not crash 10 seconds after the ad starts.

Leave a Reply

Your email address will not be published.

Related Articles
Read More

CEO Says Goldman Sachs Keeping Close Eye On Bitcoin

According to Goldman Sachs CEO David Solomon, the banking giant is showing interest in Bitcoin and other crypto products. Solomon believes that Bitcoin and decentralized finance (DeFi) will diversify the financial system and disrupt the banking industry. This comes weeks after the CEO pointed out...
Read More

Bitcoin Hits $61,000. What's The Forecast?

In March, the price of one Bitcoin soared above 61,000 USD for the first time in its history and broke the record again a few weeks later. Having peaked on January 8th ($41,528) and then on February 21nd ($58,354), in the past year the coin...
Total
0
Share
Blockster

FREE
VIEW