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Why are there no Super Bowl crypto ads?
If you watched Super Bowl 56, you probably remember the absolutely obscene amount of crypto ads that aired during the big game. There were so many that the game was dubbed the “Crypto Bowl”. But all that is changing this year (perhaps for the better?).
The biggest advertisers last year were FTX, Coinbase, Crypto.com and eToro and none of them have ads this year
According to ESPN, this is what they spent on Super Bowl ads last year:
Crypto.com spent $36.5 millionFTX spent $36.7 millionCoinbase spent $31.6 millioneToro spent $7.2 millionWatch LeBron James in a Crypto ad for last year’s Super Bowl
According to sportingnews.com, “Not only will there be fewer crypto ads this year than last year’s ad blitzkrieg, there won’t be any.”
This is mainly due to the fact that the industry is in a bad financial state. Who could have seen this happen? In 2022 and 2023, lawsuits were filed and Bitcoin stock prices fell dramatically.
FTX, one of the biggest advertisers last year, went bankrupt and the founder was indicted for fraud. It’s safe to say that there will be no commercials for them this year.
According to executive vice president of advertising sales Mark Evans (h/t sportingnews.com), there were going to be ads, but those ads fell through in November when the FTX fiasco hit the headlines.
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Sources 2/ https://fansided.com/2023/02/12/crypto-super-bowl-commercials/ The mention sources can contact us to remove/changing this article |
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