The Super Bowl last night was the first to showcase many adverts from prominent crypto firms. This is what Twitter had to say about it.
The Los Angeles Rams defeated the Cincinnati Bengals in Super Bowl LVI last night.
Off the field, various crypto firms, including Coinbase, FTX, and Crypto.com, debuted Super Bowl commercials in what became known as the “Crypto Bowl.”
Of course, crypto sports marketing isn’t new—look at Matt Damon—but the business has never been shoved so forcibly into the spotlight.
Twitter reacted in kind.
So, who was the one that scanned that QR code?
Coinbase was one of the most talked-about cryptocurrency companies throughout the game, but its Super Bowl commercial was one of the most straightforward ever.
A QR code flying around the screen for a minute was included in the advertisement. Those that scanned it were directed to Coinbase’s website, where they were promised $15 in free Bitcoin in exchange for signing up as a new customer.
Coinbase’s commercial, like most everything on Twitter, was praised, mocked, and everything in between.
“Coinbase really paid millions for a QR code commercial,” one, two, three, and many other Super Bowl viewers commented. “Raise your hand if a QR code flashed around your tv for approximately a minute or so and the idea to scan it never crossed your head,” Harvard lecturer Juliette Kayyem remarked.
To make matters worse, Coinbase’s website experienced a temporary outage as a result of people’s insatiable curiosity.
Coinbase spending $16,000,000 on a Superbowl ad to direct people to their website and $0 to make sure that website doesn't crash 10 seconds after the ad starts is so very internet.
— Edward Snowden (@Snowden) February 14, 2022
Others, on the other hand, adored it. Coinbase’s ad, according to talk show host Dan O’Donnell, was the greatest in the Super Bowl, and “it’s not even close.”
For its ability to grab attention immediately and engage the audience while driving tens of millions of web hits instantly, the @Coinbase commercial with nothing but a floating QR code was the best ad of the Super Bowl and it's not even close.
— Dan O'Donnell (@DanODonnellShow) February 14, 2022
The new FTX Arena for the Miami Heat, relationships with other Washington sports organisations, and even new FTX-branded MLB umpire logos all show that FTX has already invested heavily in sports marketing.
But, since it was the Crypto Bowl, FTX went all-in with Larry David of “Curb Your Enthusiasm.”
David was the star of the FTX show, playing a variety of personas who mocked some of history’s most significant inventions.
What will be the next big thing? Of course, we’re talking about cryptocurrency. David scoffs at the FTX app at the end of the commercial, while the exchange warns viewers not to be like David and miss out on crypto.
In general, the ad was favourably received, with the majority of Twitter users praising David’s performance.
— Hashsquatch 💨 (@jjah22861) February 14, 2022
Fortune continues to favour the bold.
For its Matt Damon campaign, which began airing in October, Crypto.com has been put to the test.
“The saddest thing about Matt Damon’s macho crypto pitch, where the viewer must ACT NOW or be a weak pussy, is that it’s a top three classic pitch that many financial schemes have used to entice men to part with their meagre assets. “Nothing has changed in 150 years,” said Adam Johnson, host of the Citations Needed podcast.
“There isn’t enough icky in the world to describe Matt Damon promoting a Ponzi scheme,” wrote Carole Cadwalladr of the Guardian.
Despite the reaction, Crypto.com reaffirmed its “fortune favours the brave” credo, enlisting NBA legend LeBron James and sending him back to 2003 to chat with… a younger, CGI-enhanced version of himself.
This time, Crypto.com’s commercial was well-received, with both crypto and basketball fans responding to LeBron’s “moment of truth.” “At its core, this is a storey about each and every one of us.” In a post teasing the commercial, Ben Lay, creative director at Crypto.com, stated, “We’ve all had to make these enormous daring decisions that effect our future.”
Other crypto-related references
Crypto-native companies like FTX, Crypto.com, and Coinbase provided plenty of fodder for Super Bowl conversation, but a few others—eToro, TurboTax, and Bud Light, to name a few—were happy to join in.
Bud Light advertisements have been a staple of Super Bowl commercials for years, but the business was the first to use crypto this year.
Bud Light’s commercial, which aired about 6:50 p.m. EST, included a reference to the company’s membership in the Noun DAO’s NFT collection. Of course, this isn’t Bud Light’s first attempt into non-alcoholic beverages, but that’s a storey for another day.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.