Following a minute-long ad worth $14 million meant for the Super Bowl, US-based crypto exchange Coinbase raked in the dividends because traffic reached historic highs.
Reportedly, the traffic was overwhelming, resulting in the Coinbase app surging to the second spot from the 186th position on the Apple store, according to Block Research.
The Block added:
“Crypto apps shot up App Store download charts in the US on Monday morning, after a Super Bowl studded with digital assets advertising. Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams also saw two of the biggest crypto exchanges, FTX and Coinbase, compete for eye-balls.”
Surojit Chatterjee, the Chief Product Officer at Coinbase, took to Twitter and confirmed the company’s significant traffic witnessed following the advertisement. He stated:
“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. Humbled to have been witness to this.”
He added that the Coinbase landing page also went haywire.
“We had over 20M hits on our landing page in one minute. That was historic and unprecedented. We also saw engagement that was 6 times higher than our previous benchmarks.”
The Super Bowl is usually a battle of the titans, given that it’s the annual playoff championship game of the National Football League (NFL).
Therefore, it’s a famous game on American soil and beyond, making companies splash significant amounts to get notable airplay.
For instance, Singapore-based crypto exchange platform Crypto.com selected NBA’s four-time most valuable player (MVP), LeBron James, as its new weapon for mainstream adoption during the Super Bowl.
This move was seen as a stepping stone towards crypto adoption because his influence and reputation go beyond the sphere of basketball and sports.
Image source: Shutterstock