Following a wave of cryptocurrency ads securing airtime for promotions during the 2022 Super Bowl, the subsequent year witnessed an absence of crypto entities airing commercials in the event. The trend is set to continue into 2024, as highlighted by a recent analysis on the subject. Although several firms launched commercials for exchange-traded funds (ETFs), the 58th Super Bowl will not feature any new advertisements from cryptocurrency companies.
Crypto Companies Bow Out of 2024 Super Bowl Ad Lineup
Just before this year’s Super Bowl on Sunday, Fox Business News reporter Eleanor Terrett released a report revealing that crypto companies will not be showcasing commercials during the event.
The 58th Super Bowl is set to highlight the clash between the National Football League (NFL) champions of the American Football Conference (AFC), the Kansas City Chiefs, and their rivals from the National Football Conference (NFC), the San Francisco 49ers.
In her report, Terrett engaged in a conversation with Mayur Gupta, Kraken’s chief marketing officer, who stated that the company has opted out of investing in Super Bowl advertising spots.
“The Super Bowl is a very U.S.-centric event, and the next wave of crypto users will come from all around the world, not just the United States,” Gupta said. “If the last wave of crypto marketing was all about hype and FOMO (Fear of Missing Out), this current wave has to be rooted in education and awareness for the substance and true value proposition of crypto as a movement that will bring financial freedom and inclusion.”
During last year’s Super Bowl face-off between the Chiefs and the Eagles, not a single crypto companies invested in advertising space. However, in 2022, before the downfall of FTX, several firms including Etoro, Coinbase, FTX, and Crypto.com made their mark with commercials. Larry David, famed for creating “Seinfeld,” humorously branded himself as an “idiot” for participating in the FTX advert that year.
Terrett’s report also sheds light on crypto enterprises like Bitwise that have recently broadcasted commercials in the run-up to their ETF debuts. Yet, she underscores that sources with intimate knowledge from Blackrock have confirmed the financial giant will steer clear of Super Bowl advertising this year.
Super Bowl LVIII is scheduled to broadcast on Sunday, Feb. 11, 2024, at 6:30 p.m. EDT. A fortnight earlier, Bitcoin.com News covered predictions from crypto betting platforms such as Polymarket, which favored the 49ers to clinch the championship title. Just a day before the big game, Polymarket’s current odds continue to back the 49ers with a 53% probability of victory, leaving the Chiefs trailing with a 47% chance.