Coinbase is an American company and is primarily known for being a cryptocurrency exchange platform. The platform makes it easy for anyone to buy, sell and exchange any cryptocurrency.
In order to promote the platform during its Super Bowl debut, Coinbase came up with a QR code that would bounce around on the screen, similar to the bouncing DVD logo meme everyone is familiar with. Once a viewer scans the QR code, they are taken to Coinbase’s website, where they are also offered a limited-time promotion of $15 free Bitcoin to new people who sign up.
Little did the company know how popular this would become. Within a few hours of the ad launching, there was a huge influx of people suddenly signing up. This proved too much for the app as it crashed a while later. Coinbase is currently looking into the issue and is trying to get the app back up running.
This isn’t the first time a cryptocurrency platform has been involved with this year’s Super Bowl. Multiple companies like Crypto.com and Etoro have used the game to their advantage; to promote their crypto and investing platforms.
As soon as the ad went viral, other companies like Meta were quick to join the hype train. Meta tweeted its own QR code that linked to a VR afterparty shortly after Coinbase’s ad launched.