Coinbase Global Inc COIN featured a QR code in its Super Bowl ad and it quickly went viral — but not for the reasons the company may have intended.
What Happened: The advertisement featured a bouncing QR code placed in front of a black background.
The QR was linked with the company’s “Less talk, more Bitcoin” campaign, but it crashed the company’s application.
Coinbase is giving new users $15 in Bitcoin BTC/USD as a signup bonus and is giving its existing user base a chance to win $3 million in prizes under the "Less talk, more Bitcoin" campaign. The promotion ends in approximately 42 hours.
See Also: How To Buy Coinbase (COIN) Shares
Why It Matters: This year’s 30-second Super Bowl commercials cost an average of $6.5 million, according to a prior Benzinga report.
Cryptocurrency advertisements and giveaways are all the buzz as the annual playoff championship of the National Football League takes place. Coinbase rival FTX roped in comedian Larry David for its promo.
The Coinbase ad didn’t just garner attention from humans, it seems to have also gathered a canine audience.
Coinbase enables users to trade in cryptocurrencies like Bitcoin, Ethereum ETH/USD and Dogecoin DOGE/USD among other offerings.
Price Action: On Friday, Coinbase shares closed 5% lower at $194.53. At press time, BTC traded 0.8% lower over 24 hours at $42,101.02.
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