Coin Edition -
- Coinbase (NASDAQ:COIN) launches three commercials across four channels highlighting the advantages of cryptocurrencies.
- The ads use pizza as a symbol of money to showcase the long processes through which it goes.
- Coinbase’s Chief Policy Officer Faryar Shirzad comments on the illusion of credit cards and other representations of traditional banking.
Coinbase has reportedly planned to launch three ads worth a total of $15 million, highlighting the advantages of cryptocurrencies over the traditional finance system. These commercials are set across four channels during the NBA Playoffs to attract sports enthusiasts to the crypto space.
The ads—one 60-second ad and two 30-second ads—will be launched on Wednesday on TNT, ESPN, ESPN2, and ABC. The basic intention of the ads is to demonstrate and prove the complexity of traditional payment systems compared to the smooth, less expensive, and fast crypto payment system.
Using pizza as a symbol of traditional finance, Coinbase’s tongue-in-cheek ad shows the long process pizza would have gone through if it were money. While the ad showcases pizza’s journey through several approval and authorization stages, the narrator says, “If pizza worked like this, you wouldn’t like pizza.”
The commercial takes further steps to spotlight the disadvantages of fiat currencies and the conventional banking system. While the ad moves through scenes that mimic credit card transactions, several people snatch slices from the pie. This symbolizes “what happens to your money whenever you spend it or send it.”
The ad ends when the pizza passes through a door marked “surcharge,” and the delivery boy picks up the pie. The delivery boy turns to the audience and says,
“We deserve a better system, easier, simpler, faster. That’s how crypto works.”
Coinbase’s Chief Policy Officer Faryar Shirzad commented on the “illusion” on which today’s public lives. He asserted, “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.”
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