Battle Of Crypto Exchanges: Coinbase, FTX Make Super Bowl Debuts

Multiple crypto-related firms bought ad spots and aired their commercial during the Super Bowl this year. 

Crypto Takes Over Super Bowl Ads

The championship game for the National Football League (NFL), colloquially called the Super Bowl, is a prime advertisement spot. Every year leading brands pay top dollar to buy an ad spot. However, this year, there seemed to be a specific trend. A significant number of ads aired during the 2022 Super Bowl were crypto-related. Exchanges like Coinbase and FTX made their Super Bowl debut while other noteworthy names in the industry like crypto.com, etoro, and Meta (Facebook) were also featured during the commercial breaks. 

Coinbase Ad Gives Out Crypto 

Crypto exchange Coinbase had the most minimalistic approach towards its Super Bowl ad. Usually, brands try to go far and beyond in trying to stand out and make an impression on the viewers. The ad featured a QR code bouncing across the screen for an entire minute. Viewers who scanned the code were redirected to a page for close to a $100 million giveaway. The ad spurred viewers to rush the Coinbase website, causing it to crash for a few minutes.

Chief Product Officer at Coinbase, Surojit Chatterjee, tweeted, 

“Coinbase just saw more traffic than we’ve ever encountered, but our teams pulled together and only had to throttle traffic for a few minutes. We are now back and ready for you at http://drops.coinbase.com.”

He also announced that the ad pulled in over 20 million hits on the landing page in one minute, with engagement that was six times higher than all previous benchmarks. The ad also started trending on social media, especially starting several conversations on Twitter. 

Celebrities Roped In For Crypto Ads

Unusual celebrity endorsements are another way that Super Bowl advertisements attempt to stand out. For example, another crypto exchange, FTX Trading, paired up with comedian-producer Larry David to fill their ad spot in the Super Bowl commercial break. In the ad, David is portraying skeptical figures throughout historical moments. At one point, David scoffs at the invention of the light bulb and then at the moon landing. Finally, he claims that crypto will not amount to anything, indicating the opposite. 

Crypto.com also had a celebrity endorsement, having roped in basketball legend LeBron James. The ad featured James talking to his younger self and advising him to call his own shots and concluded with the text “FORTUNE FAVORS THE BRAVE” floating across the screen. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.