The current financial system makes things harder than it needs to be: banks are closed on weekends and holidays; it usually takes 3–5 days for money to clear; wire transfer fees can be high; and paying for a car in cash isn’t for the faint of heart—not to mention car prices often exceed payment app limits.
Coinbase partnered with the premiere online auction platform for enthusiast vehicles, Cars & Bids, and its founder & influencer Doug DeMuro, to highlight the convenience of using crypto for major purchases, like a car.
As cryptocurrencies and digital assets become more and more functional, the auto industry is becoming the next major frontier.
High-end car culture and crypto enthusiasts share the same passions for precision, speed and cutting-edge innovation. It’s why brands like BMW, Audi, Ferrari and Honda already accept forms of crypto for auto purchases.
The campaign set out to show that the convenience of crypto is the solution to the current convoluted financial system by partnering with Cars & Bids to auction a 1995 Acura NSX-T.
The auction for a 1995 Acura NSX-T, finished in Formula Red, combined the timeless appeal of a sports car with the cutting-edge innovation of blockchain technology, as the winning bidder had to pay exclusively USDC (U.S. digital coin), a widely trusted and secure stablecoin. Coinbase’s easy-to-use platform facilitated seamless onboarding for participants new to USDC, and the auto industry is well positioned to embrace the shift to free, fast, borderless transactions.
To announce the partnership and kickoff of the auction, a cinematic film featuring Cars & Bids’ founder and auto influencer Doug DeMuro behind the wheel of the 1995 Acura NSX-T was shared across socials. Coinbase also dropped 100 limited-edition cassette tapes with the audio from the film signed by Doug to the first 100 new sign ups.
The partnership underscored the growing acceptance of digital currency that is making every day financial challenges faster and cheaper for people. With no weekend restrictions, spend limits or banking hours that someone might otherwise experience when buying a car, this auction highlighted the helpful role crypto can play in our daily lives.
The 1995 Acura NSX-T sold for a record-breaking sale price of $80,576, paid for in USDC, and was the second most viewed auction in Cars & Bids history.
The campaign netted 40.2M impressions and 179k engagements, with the “Night Drive” film featuring Cars & Bids’ founder and auto influencer, Doug DeMuro, garnerning 17.7 million TikTok views, 15 million YouTube impressions, 374k views on X and 175k views on Instagram.
