Source: Adobe / vetal37
Following the debut of crypto asset management firm Grayscale Investment’s new television commercial in the US, initial signs suggest that viewers have taken notice, although the company itself is still tight on details – but say additional content is on digital channels come.
Reportedly, the ad, titled “History of Money,” shows how monetary systems have evolved in the world, from ancient barter economies to today’s uncovered fiat currencies. To date, the ad has been shown on several major US television networks, including CNBC, MSNBC, FOX and FOX.
The new ad, which first aired on Monday August 10th, appears to have already seen positive results for Grayscale. The company’s founder and CEO, Barry Silbert, tweeted Friday that the company had just closed its “biggest fundraising week ever.”
We’re excited to announce that @Grayscale had our biggest fundraising week ever … $ 217 million invested in the Grayscale funds. I think you liked the commercial! https://t.co/TiPppNQEwb
– Barry Silbert (@barrysilbert) August 14, 2020
As expected, community reactions to the ad ranged from criticism from the usual crypto naysayers like Peter Schiff, who described the ad as “inaccurate,” to Bitcoin maximalists who were unhappy with how the ad was Bitcoin as another cryptocurrency. However, some also praised the effort when a user wrote on Twitter, “GREAT work Grayscale. And thank you for your efforts. “
However, regarding the actual impact the ad has had so far, Grayscale has told Cryptonews.com that it is too early to determine how effective it has been in attracting regular mainstream investors to crypto.
“Because the TV spot wasn’t broadcast for the first time until the beginning of the year [last] Week is very early to have statistics or impact on a branding campaign, “said Marissa Arnold, director of communications at Grayscale Investments, in a comment on Cryptonews.com, while adding that content is still in production:
“There are additional creatives running through digital channels (social networks, newsletters, etc.). We look forward to further strengthening the Grayscale brand through these efforts.”
However, a measure of how effective the ad was in the first week could be obtained from Google search statistics in the United States.
And while it is difficult to draw firm conclusions from the search data, searches on the terms “buy bitcoin” and “buy cryptocurrency” in the US took place from August 9-10, the day the ad started. experienced an upswing. It was also interesting that the increase in search interest for the term “buy cryptocurrency” was stronger, rising 2.75-fold in the two days, compared to a 1.39-fold increase for the term “buy bitcoin”.
For the past 30 days, Google has searched the US for the terms “buy bitcoin” (blue line) and “buy cryptocurrency” (red line). Source: Google Trends.
Perhaps just as important to the company paying for the ads, the search for the term “grayscale” rose from a low on August 9th to a high on August 11th in the US, possibly reflecting some interest from potential investors indicates.
Google has searched for the term “grayscale” in the US for the past 30 days. Source: Google Trends.
Shortly after the premiere of Grayscale’s new TV ad, another major cryptocurrency advertising campaign hit the mainstream press. Mike Novogratz’s Galaxy Digital placed a full-page Bitcoin-focused ad in the print edition of the Financial Times on August 13. Fortunately, Barry Silbert didn’t seem to mind the competition, simply commenting “Love it” with a picture of the ad on Twitter the same day.