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Coinbase’s “Free Bitcoins” Super Bowl Ads are causing websites to crash momentarily

Coinbase provided its first major crypto shock during this year’s Super Bowl after the company aired a cheeky commercial consisting of just a QR code floating across the screen for 60 seconds.

The ad also briefly shows the Coinbase URL at the bottom, resulting in a site shows new customers signing up for the next 2 days a promotion of $15 Free Bitcoin.

The Bitcoin giveaway page on Coinbase where the company’s Super Bowl promotional QR code resulted in the following crash message.

Ads on Coinbase appear to have been very successful as an estimated 117 million people signed up to check out, causing the app to crash quickly. Once it aired, all tweet that the company’s website and apps are down.

The outage was short-lived as the Coinbase page resurfaced a few minutes later, including the homepage showing the giveaway along with messages like “Speak Less, More Bitcoin” and “WAGMI.” WAGAMI is an acronym commonly used in the cryptocurrency industry that stands for “We are all gonna make it”.

The ad has since garnered a lot of attention even on social media. An editor at AdWeek comment Coinbase’s marketing team will surely like that.

Others note that the cost of airing this ad is very low compared to a typical Super Bowl commercial. According to the Twitter account The Metaverse, Coinbase spent $14 million (150 Bitcoin) on this QR code advertisement. A crypto commenter drew attention to Coinbase’s technical issues but praised the ad as clever and unique.

Finally, advertising also has a particular impact on a specific market segment that, unfortunately for Coinbase, will not buy cryptos. Admire this dog’s allure with the QR code scrolling across the screen:

https://twitter.com/haleymspracale/status/1493014795288662017?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
Ads on Coinbase weren’t the only crypto ads aired. Rival FTX also kicked off the Super Bowl with an ad starring comedian Larry David, while the Bud Light and Turbo Tax ads also mentioned cryptocurrencies.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.