There’s no question, cryptocurrency was one of the big winners at the 2022 Super Bowl. However, while people loved the cryptocurrency commercials, many still don’t know what crypto is. So it might be time to learn a bit more about it before the hit commercials convince you to invest.
What is Cryptocurrency?
Let’s quickly cover what cryptocurrency is for those who don’t know. It’s a purely-digital payment system that uses peer-to-peer technology to verify transactions instead of banks. Whenever you transfer cryptocurrency, the transaction is recorded in an online, public ledger. The peer-to-peer ledger uses advanced encryption to provide security and safety for both the wallets and the distributed public ledger, called “the blockchain.”
Units of cryptocurrency – usually referred to as “coins” – are created through “mining,” which is just a fancy term for computers using their power to solve complicated mathematical problems that create the coins. While cryptocurrencies and blockchains are still evolving, many financial experts could see them being used for everything from bonds and stocks to other financial assets in the future. So, it’s really no wonder that so many crypto-trading apps spent quite a bit of money to have commercials created for the 2022 Super Bowl.
The Coinbase Super Bowl 2022 Ad
Coinbase is frequently ranked the number one crypto exchange in the United States, so it’s really no wonder that they spent big on getting their name out there during the 2022 Super Bowl. However, even the company itself was not expecting such a hit ad!
The Super Bowl commercial started with the Coinbase logo “C” bouncing around the screen, like the old-school bouncing DVD logos on DVD players. Soon enough, the letter is replaced with a color-changing QR code, which moved across the screen in the same fashion. As you might imagine, the QR led users to Coinbase’s official website, which included news on a Bitcoin (BTC) giveaway and sign-up promotions.
Coinbase had no idea the ad would be so popular – so popular, in fact, that the website crashed. That’s right! Almost immediately, the company released a tweet: “Well, that was more popular than we thought. We need a quick time out, but don’t worry. We’ll email you when things are back to normal.” Just a little while later, the site was back up and working.
FTX and Larry David
Coinbase was not the only crypto exchange that spent money on the Super Bowl. FTX, one of the newest exchanges, created a 2022 Super Bowl ad featuring legendary comedian Larry David. The commercial showed the infamously grumpy David dismissing life-changing tech, like the toilet, fork, and wheel, throughout history. We then arrive at the current era, where modern-day David dismisses crypto entirely, saying, “I don’t think so.”
Before ending, the commercial directly addressed the Super Bowl watchers: “Don’t be like Larry. Don’t miss out on the next big thing.”
And those weren’t the only crypto commercials this Super Bowl. eToro and Crypto.com also had successful ads. There’s really no question: cryptocurrency was the big winner of Super Bowl 2022!
Sources: CBS News, Coin Telegraph, The Cut, Kaspersky.