Cryptocurrency, Sports Betting Apps Surge Following Super Bowl Ads: Coinbase, DraftKings Lead The Way

It's no secret that cryptocurrency ads dominated the commercial breaks during the 2022 Super Bowl. According to data from Sensor Tower, it looks like those expensive ad slots were worth the price.

What To Know: Sensor Tower's store intelligence data showed that three out of the top five mobile-first brands advertising during Super Bowl LVI were cryptocurrency apps, despite being outspent by traditional brands on streaming platforms.

Coinbase Global Inc COIN was the clear winner of the advertising Super Bowl. The company's ad, which featured a colorful QR code bouncing off the edges of a black screen, went viral shortly after it aired.

Those who scanned the QR code were linked to Coinbase's “Less talk, more Bitcoin” campaign, but the simultaneous influx of visitors crashed the company’s application.

Related Link: How Coinbase's Super Bowl Ad Went Viral — Unwittingly

Still, Coinbase app installs increased 309% week-over-week, the highest surge in installs across the Apple Inc AAPL and Alphabet Inc GOOG app stores in the U.S. on Super Bowl Sunday when compared to the previous week’s daily average.

Etoro and FTX also made it into the top five, surging 132% and 130% respectively. However, the pair of crypto apps ranked fourth and fifth on the list, behind a couple of popular sports betting apps.

DraftKings Inc's DKNG sportsbook app claimed the second spot behind Coinbase after seeing install volume grow 197% week-over-week. Caesars Entertainment Inc CZR was just behind DraftKings with install volume increasing 147% week-over-week.

Photo: courtesy of Coinbase.