According to reports from Fox News, Coinbase, the largest cryptocurrency exchange in the U.S., is gearing up to launch a $15 million television advertising campaign across four channels during the NBA playoffs.
The objective behind this move is to draw in more sports enthusiasts into the world of cryptocurrencies. These commercials, featuring pizza as a symbol, depict the convoluted journey pizzas would undergo if they were treated like money within today’s financial system.
Narrated with the line, “If pizza worked like this, you wouldn’t like pizza,” these ads aim to highlight the complexities of traditional payment systems compared to cryptocurrencies.
Although not officially confirmed yet, the Coinbase commercials are slated to air three separate ads across ESPN, ESPN2, TNT, and ABC during the NBA playoffs, commencing on Wednesday. The campaign includes two 30-second commercials and one 60-second spot.
The intention behind these advertisements is to underscore the intricate nature of traditional payment mechanisms when contrasted with the simplicity of cryptocurrencies.
Furthermore, these ads are scheduled to run until June 9, as per the report.
Faryar Shirzad, Chief Policy Officer at Coinbase, remarked, “We’re under the illusion that when we use credit cards or Venmo, things are happening instantly, but they’re actually just part of very complex plumbing that’s masked by a digital interface.”
Coinbase’s Pizza Ad Journey
The pizza, spotlighted in the ad available on YouTube, undergoes a series of meticulous examination and approval phases. Throughout the ad, it mirrors a conventional credit card transaction, portrayed by various individuals taking bites of the pizza pie.
This portrayal essentially signifies the involvement of intermediaries in traditional financial transactions, who often claim a significant portion of commissions.
“This is pretty much what happens to your money whenever you spend it or send it,” remarks the narrator.
In the culminating scene, the pizza forcefully enters a door labeled “surcharge,” symbolizing the imposition of credit card fees. A delivery person then retrieves the pizza, affirming, “we deserve a better system, easier simpler faster. That’s how crypto works.”
“Coinbase is forging the future of currency to ensure American consumers have ownership over their financial slice — and ensuring their transactions move at the speed of the internet,” expressed Coinbase’s Vice President of Engineering in an interview with Fox News.
