Before the latest crash, crypto markets were highly popular, and Super Bowl ads served as a significant source of reputation. Crypto companies boasted about reaching a massive audience with their ads, predicting substantial returns. However, following the recent crypto crash, many companies had to reduce even their staff numbers, let alone make such grand advertising expenditures.
What is the Super Bowl?
Although not considered significant in many parts of the world, the Super Bowl championship is quite popular in the USA and some other countries. In America, the annual championship game of the National Football League pits the National Football Conference champion against the American Football Conference champion.
In 2022, over 101 million people watched this match. As one of the country’s most important events, many large companies rent advertising space there. During the days when it seemed money was being burned, crypto ads were frequently seen.
According to Nielsen’s data, the Super Bowl has reached over 100 million viewers each year since 2010.
Super Bowl and Crypto
FTX was broadcasting its ads at this event nine months before its collapse, inviting people to invest in cryptocurrencies. Later, it was revealed that the tokens traded on this exchange didn’t actually exist, and SBF will soon find out how many years of prison he will face.
A recent Fox Business report quotes Kraken‘s marketing director Mayur Gupta stating that we are now entering a new era. Super Bowl crypto ads were becoming attractive with a hype-driven enthusiasm. However, this has changed.
“If the last wave of crypto marketing was all about hype and FOMO (Fear of Missing Out), this current wave should be based on education and awareness for the core of crypto, which is about bringing financial freedom and inclusivity. The Super Bowl is a very US-centric event, and the next wave of crypto users will come not only from the US but from all around the world.”
There were speculations that spot Bitcoin ETF issuers would buy ad spaces at this event, but VanEck recently shared that not seeing crypto ads at this year’s Super Bowl would be positive.