Coinbase is effectively telling crypto critics to eat their words given the brand has heard the same kinds of decrees since it was founded a decade ago. Volatility has been a constant in the young life of the crypto industry, and with each period of bearish market conditions, known as a crypto winter, detractors, non-enthusiasts and many of the general public have rushed to toll the death knell.
The crypto market presently appears to be entering one of these winters, as a months-long downturn in prices of cryptocurrencies since highs in November has accelerated in recent weeks. The market cap for the entire crypto industry has shed nearly $2 trillion, from $3.1 trillion to $1.3 trillion, since last fall.
Despite these conditions, Coinbase is defending its industry, a stance encapsulated by the ad’s title and takeaway: Long live crypto.
The commercial debuted during Wednesday night’s NBA Western Conference Finals game between the Golden State Warriors and Dallas Mavericks. It will run nationally during more NBA Conference Finals games, per a company spokesperson.
“It’s easy to write an obituary. It’s hard to bring something new to life,” Coinbase Chief Marketing Officer Kate Rouch in a company blog post published Wednesday. “We hope this ad inspires people who have been through these types of challenges before — whether in crypto or beyond — to share their wisdom, and inspiration.”
