Takes place every year The Super Bowl is taking place in the USA – one of the biggest sporting events in the world. The competition Is not just the stage the American football final, but also for the biggest commercials of the year. In 2022, crypto advertising accounted for a significant share, but this year is different. Crypto advertising is nowhere to be found.
Crypto exchanges are busy with other things
Mayur Gupta, chief marketing officer of crypto exchange Kraken, told Fox Business that Super Bowl advertising was at odds with the company’s global strategy. The tournament’s focus is heavily on the United States. It prefers to focus on education to make it clear that crypto can help with financial inclusion and achieving financial freedom.
Coinbase also has more on its mind this year, namely lobbying the US Parliament for cutting-edge crypto regulation. In 2022, it reportedly spent another $14 million on a 60-second video with a QR code for Coinbase’s website so people could create an account on the trading platform during the competition. The idea was simple but very effective. Due to the enormous interest, the site was almost immediately overwhelmed.
Asset manager VanEck and owner of the spot ETF “HODL” even suggests that a Super Bowl without crypto advertising would be a good sign for the market, even though it is busy with creative advertising for the new Bitcoin exchange fund.
A Super Bowl without crypto advertising would be a good sign
– VanEck (@vaneck_us) February 7, 2024
Associated with dramatic FTX advertising?
It is obvious that the lack of crypto advertising this year is related to the advertising fiasco of two years ago. The year 2022 was marked by a gigantic bear market. According to critics, advertising companies have led people into a downward spiral.
FTX was also there in 2022, hiring comedian Larry David with the message that crypto is the “opportunity not to be missed.” But less than a year after the advertisement, FTX went bankrupt. David himself thinks it was idiotic that he took part in the commercial because he didn’t feel at home in the complex crypto world.