Coinbase launched its second national ad and new in-app features this week.
Things are moving fast in the metaverse, and in the wider world of Web3 as a whole. Depending on who you ask, this futuristic, blockchain-based space is either the next big thing for marketing — and for almost everything else — or an overhyped fad. Here’s what you need to know from this past week.
Despite recent crypto crash, Coinbase mints new ad and in-app features
In the midst of a historic crash in the crypto market, Coinbase — one of the largest cryptocurrency exchange platforms — appears to be broadcasting a single message to the crypto world: HODL (hang on for dear life). During the NBA playoffs, Coinbase is airing second national TV spot celebrating its 10th anniversary. (Its first ad aired during the most recent Super Bowl.) The ad, titled “Long Live Crypto,” pokes fun at the many, many premature eulogies for crypto that have been posted online by those who are skeptical of the virtual currency’s longevity. The message in the new 30-second ad appears to be: crypto has weathered storms in the past — and it will weather the one in which it’s currently embroiled. In addition to its new ad, the company announced earlier this week that it’s launching new in-app features for some of its users. In a blog post published Monday, Coinbase director of product management Rishi Dean stated that “a small set” if its users will now be able to access decentralized apps (DApps) — such as the popular NFT marketplace OpenSea — on the Ethereum network, creating a more robust and unified crypto trading ecosystem. Eligible users will also now be able to access decentralized exchanges (DEXs) and interact with a number of decentralized finance (DeFi) platforms, according to the blog post. The news arrives hot on the heels of the recent dip in the crypto market, which has erased billions of dollars in value from major coins and caused a major tumble in Coinbase shares.
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