Cryptocurrency exchange Coinbase confirmed on Wednesday that it is the highest bidder in the Liquid Death auction, winning the right to place ads on over 500,000 of the carbonated water boxes.
In a bold move designed to disrupt traditional Super Bowl advertising, the canned water brand auctioned off the back of its case of eights to advertisers on eBay with a starting bid of $500.
Dubbed the "Biggest Ad Ever," Liquid Death kicked off the auction with an X post less than a week before the Big Game.
Yes, this is real. You can really go to eBay and bid to run your brand’s ad on half a million #LiquidDeath cases across our biggest retailers nationwide. Bidding starts at $500. Place yours at https://t.co/AW3b2wROsS. pic.twitter.com/2V7As3P5Bf
— Liquid Death (@LiquidDeath) February 6, 2024
Known for its unconventional marketing and skull-emblazoned packaging, Liquid Death positioned the auction as an alternative to the 30-second spots worth $7 million aired during this year’s Super Bowl.
The brand argued that its reach exceeds Super Bowl viewership, enticing potential bidders with the opportunity to tap into the 200 million customers visiting its retail partners weekly.
“We’re always looking for ways to make fun of traditional advertising, and this idea was a way for us to flip the biggest advertising stage of the year on its head by offering a media opportunity that was nearly two times bigger,” Greg Fass, VP of marketing at Liquid Death, said in an interview with Ad Age.
This unique stunt saw Coinbase winning the right to place its logo and messaging on a staggering 500,000 Liquid Death boxes, securing its spot as the ninth-highest successful bidder in eBay history.
Coinbase won with a bid of $500,114, translating to roughly $1 per advertised case. The popular crypto exchange shared why they decided to buy Liquid Death’s ad space in an X post.
We bought this. Why?
— Coinbase 🛡️ (@coinbase) February 20, 2024
✓ We love new ways of doing things.
✓ We respect innovative brands.
✓ It was a really good deal.
We also paid in USDC and saved @LiquidDeath $12K in middleman fees.
So here’s the $500,114 question:
What do we put on the boxes for 200M people to see? https://t.co/zBOZIbGrhi
Interestingly, Coca-Cola's Smartwater brand even participated in the initial bidding, highlighting the unexpected possibilities of the auction.
“This was a unique media buy, not a brand collaboration," Fass clarified.
Coinbase will enjoy creative freedom in designing its ad, subject to retailer standards and clear disclaimers.
According to Coinbase CMO Kate Rouch, the exchange plan is to crowdsource ideas from its social media followers, incorporating their audience's input into the final execution of the ad.
“The chance to directly engage with our audience in new, immersive ways got us excited. We’re eager to involve them in shaping the creative direction of our ad,” Rouch stated.
