Coinbase has partnered up with American beer company Budweiser in an attempt to reach a new demographic. The new initiative is specifically in conjunction with Budweiser Made in America (BMIA) Concerts to give concert attendees $10 worth of Bitcoin for free.
The Budweiser Made in America festival is held annually at over thirty cities building up to two big events taking place on the weekend of 30th and the 31st of August in LA and Philadelphia. Founded by artist JayZ and sponsored by Anheuser–Busch the event is about bringing music and culture together with live Rock, Hip-hop, R&B and EDM performances.
[dropcap size=small]A[/dropcap]ll concert goers are able to receive the free $10 worth of Bitcoin through the Coinbase wallet platform, but they have to opt-in when booking tickets to do so. But of course the attendee will have to sign up for a Coinbase wallet and upon complete registration will receive their Bitcoin. How many will do so remains to be seen but surely you would think that a free $10 worth of anything would be difficult to turn down, and Coinbase has said that there is a limited amount of Bitcoin allocated to the promotion. The proposition is also going to be even more attractive for attendees as they can spend their Bitcoin at participating concession stands throughout the festival. But of course they could keep the Bitcoin if they wish or spend it at any other establishment that accepts it.
The partnership is a clever move for Coinbase as it not only spreads Bitcoin use to the uncharted waters of music festivals but also couples it with the recognized and trusted Budweiser brand that already has an immense popularity with young Americans. The collaboration will apparently be on full display throughout the event, and you can expect that word of mouth will quickly spread news about the free offer. Not to mention that attendees will be using the platform through their smartphones during the event. The actual use of Bitcoin will serve to not only get younger people interested but also cultivate familiarity with the technology.
This new scheme comes soon after the Coinbase announcement to give out $10 of Bitcoin to college students at eligible institutions, they did so by giving the promotion to new signups using an .edu email address. Both this and the Budweiser partnership show Coinbase is trying to attract a younger crowd not only to their own platform but to the Bitcoin and blockchain technologies.