Super Bowl 🏈 Ads Bolstered Crypto App Downloads
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Super Bowl 🏈 Ads Bolstered Crypto App Downloads
Those companies who have spent thousands of dollars on advertisements for Super Bowl ad spots have seen a great response not just in terms of exposure received but also app installs, according to data from app intelligence firm Sensor Tower.
Findings from the data suggest that the viral ad of Coinbase has performed far better than the other ads, with installs surging 309% week-over-week after the ad’s airing on Super Bowl Sunday on February 13. The ad also continued to increase by another 286% the following day.
Crypto ads, which include Coinbase, eToro, and FTX saw their U.S. installs surge collectively 279% on February 13 compared to the week prior.
The apps in the top 5 on Super Bowl Sunday include The DraftKings Sportsbook (197% downloads week-over-week on Sunday), Caesars Sportsbook (147% downloads week-over-week), followed by eToro which saw app install growth by 132% week-over-week. FTX was ranked fifth with a 130% increase in downloads week-over-week.
Though these download figures are not actual, as the app intelligence company cannot disclose them due to non-disclosure agreements with its clients, the data provides a broader look at the impact of these ads.
Bitcoin Mining Difficulty 🥵 Hits New All-time High
The Bitcoin network has reached yet another all-time high in terms of mining difficulty due to growing competition between miners.
On February 18, bitcoin mining difficulty hit a new high of 27.97 trillion hashes (T), according to data reported by On-chain analysis tool CoinWarz.
It is the second time in just three weeks that bitcoin has reached a new all-time high in terms of difficulty.
On January 23, the mining difficulty hit 26.7 trillion hashes when the hash rates were at 190.71 EH/s (exahashes per second).
The higher mining difficulty indicates growing competition among miners to confirm a block and extract a block as a reward.
As such, several miners have started to sell off coins or their stocks to keep their cash reserves intact.
Besides mining difficulty, the hash rate on the bitcoin network also reached a new ATH of 211.9 exahash per second (EH/s), according to data from Blockchain.com.
Both mining difficulty and the hash rate of the bitcoin network have been on the rise since hitting lows last year in July, meaning greater security for the network.
Meta’s Social VR Platform Horizon Hits 300k Monthly Users 🎯
Meta's social virtual reality (VR) platform Horizon has hit the mark of 300,000 monthly users, just within three months of its launch in early December.
Jos Osborne, the spokesperson of Meta, confirmed the data and said that the stats included the user base of Horizon Worlds and Horizon Venues, which is a separate app for attending live events in VR that uses the same avatars and basic mechanics.
However, the stats did not include those who have used the "Horizon Workrooms," which features a VR-based collaboration platform.
Horizon Worlds is the VR platform of Meta, which can be accessed through its Oculus Quest. It was made available for all users in Canada and America. The platform has caught the attention of several people recently, paving way for growth in its user base.
It has been only a few months since the VR platforms of Meta were made widely available and only time will tell if the platforms will see continued growth or it will be able to retain their user base over time.
Snapchat Will Let Users Change Their Username
Snapchat will allow users to change their usernames in an update, which the company will roll out globally on February 23. This new update will help users to change their names without creating a new account.
The feature will be available for both iOS and Android users globally. However, Snapchat is providing only one chance to change your username per year.
Besides this, you won’t be allowed to use any username that has been used by others. Moreover, upon changing the username, you will also not have the option to go back to your old username.
To change your username, tap on the Bitmoji icon. From there, you need to select settings by tapping on the gear icon in the top-right corner.
Once you click “username,” you’ll see a “change username” button marked in blue. Enter a new username and hit “next” to finalize the change.
This was one of the much-requested features by users and is a good feature for users who are bored using their old username, as the new one will give them a chance to re-identify themselves.
Around the Web 🌐
Stablecoin Operator Circle Doubles Its Valuation: Circle, the company behind the USDC stablecoin, has doubled its valuation to $9 billion in an updated deal with Concord Acquisition Corp, a special purpose acquisition company (SPAC). The Circle-Concord business combination will create a new company that plans to go public on the New York Stock Exchange.
Voltron Data Raises $110 Million in funding: Apache Arrow startup Voltron Data has raised $110 million in its seed and Series A funding round. The funding was led by Walden Catalyst and saw participation from other investors like BlackRock, Anthos Capital, Battery Ventures, Coatue, Alphabet Inc.’s GV venture capital arm, Lightspeed Venture Partners, Nepenthe Capital, Redline, and The Factory.
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