On July 6, 2021, BlockFi, a crypto financial services company committed to championing financial inclusion and increasing global access to the crypto economy, launched the world’s first crypto rewards credit card, BlockFi Rewards Visa® Signature Card, with the purpose of helping consumers gain exposure to crypto markets and passively grow their wealth.
How did we get the word out—both to devout HODLers and crypto-curious folks alike? By constructing a fun and creative multimedia campaign focused on fostering an inclusive community of crypto investors.
Since the launch, we’ve offered BlockFi Rewards cardholders different and fun ways to earn more rewards by engaging with us on social media. From tweeting us their most creative photo or video of the #BlockFiCard to buying some lucky members’ coffees for posting a picture of their morning brew with #BlockFIGotThis, we love growing a community and giving back.
Through our credit card video series, we use comedic and relatable examples to help people visualize Bitcoin’s value and the convenience of the world’s first crypto rewards credit card. In our best-performing video “I Got This,” we nixed the old TV commercial formula and showed—in simple terms—why two friends out at dinner fight to pay for the bill—to earn up to 3.5% back in bitcoin on every purchase.
In an increasingly digital world, engaging with our members on social media is one way we effectively connect with our members, grow our community, and leverage authentic moments to give back to the crypto community.
The BlockFi Rewards Credit Card has a compelling value proposition: earn crypto on every purchase. But we couldn’t stop there—getting a new credit card is personal. It affects your daily life and the way you think about your daily purchases, big or small. Our campaign strategy aimed not only to highlight the many financial benefits of the BlockFi card, but to show how it can seamlessly fit into anyone’s life, crypto enthusiast or not.
OOH Advertising: In a first for BlockFi, we put up 500+ placements including roadside and airports in 13 major cities and 16 major airports across the U.S. highlighting our new card.
Billboard Contest: We issued a challenge to our Twitter community—tweet us a picture of one of our billboards in the wild and we’ll send you a pair of Bitcoin socks—“SockFis.” Unsurprisingly, they rose to the occasion, with some people even driving hundreds of miles to spot a billboard.
#BlockFiCard Contest: The #BlockFiCard contest paid out $21,000 in bitcoin over 21 days for the best user-generated photos or videos. The contest garnered hundreds of submissions, and every day one lucky (and talented) cardholder received $1,000 in bitcoin.
Organic Unboxings: New cardholders were excited to get their BlockFi card and they shared it with the world. Our Twitter feed was full of cardholders unboxing their new card, showing off the engaging packaging, and planning their first purchases.
Commercials: In another first for BlockFi and the world, we made a splash by launching the first-ever TV ads for a crypto rewards credit card. These weren’t like other credit card ads people see on TV. We didn’t hit them over the head with value props, flashy imagery, or bore them with complicated financial jargon. Instead, we used humor to show just how revolutionary our card is and how friends and family might react when they pull it out for the first time.
#BlockFIGotThis: Inspired by our commercial showing two friends arguing over who gets to pay the bill with their BlockFi card, we launched a giveaway for our community: Just tweet us a picture of your BlockFi card and your Thanksgiving turkey or morning coffee and we’ll pick up the tab.
Matt James: We partnered with recent star of ABC’s The Bachelor, Matt James, to create a series of educational videos focused on creating a more informed and inclusive crypto community. Because crypto isn’t just for ‘nerds’ or ‘bros’—it’s for everyone. We also engaged in a friendly bet—if BlockFi’s Instagram could double its followers in 24 hours, Matt James would shave off his beard—and Bachelor Nation delivered. BlockFi’s follower count grew from 20K to 45K in a day.
Cade Cunningham: Cade Cunningham, the first overall pick in the 2021 NBA Draft, joined our team as well, making waves across social media when we announced his signing bonus would be paid directly in bitcoin.
Have you ever seen adults participating in a scavenger hunt for socks? How about producing comedy sketches, composing songs, recreating classic video games, and, even, diving out of airplanes because of a credit card? We didn’t think so…
The #BlockFiCard campaign exploded, resulting in:
Plus, this wasn’t just some cute campaign for social media—it helped launch one of our most important product lines that already accounts for more than 5% of BlockFi’s revenue.
Through a combination of traditional and social media, we were able to create organic and authentic hype—never before seen in personal finance—to promote the BlockFi Rewards Credit Card launch, engage our fanatical community, and drive signups. And it worked. Here’s our results:
In its first 90 days, the BlockFi card grew to over 50,000 cardholders with a projected average yearly spend of $30,000—450% higher than AmEx, Mastercard, and Visa. As of December, our community has grown to more than 70,000 cardholders, who have earned 235 bitcoin and counting (equivalent to over $11 million as of bitcoin’s price on December 10th, 2021).
2021 was a parabolic year for us. Our social media accounts and product lines have experienced triple-digit growth and we’re even more bullish for 2022!
