Despite a more favorable market compared to last year’s “crypto winter,” cryptocurrency enthusiasts won’t see a resurgence of digital asset advertisements during Super Bowl LVIII. A source at FOX Business confirmed that major cryptocurrency companies will largely be absent from this year’s advertising endeavors.
Despite the robust total market value of digital assets, which stands at $1.7 trillion, companies within this sector are cautious about investing in Super Bowl advertisements. While some attribute this reluctance to budget limitations, others argue that marketing funds could be allocated more effectively elsewhere.
Kraken, the second-largest cryptocurrency exchange in the USA, opted not to advertise during the Super Bowl due to its US-centric nature. “The next wave of crypto users will come from all over the world,” remarked Mayur Gupta, Marketing Manager at Kraken. He stressed the importance of education and awareness-building rather than relying solely on hype and FOMO tactics.
Coinbase, the leading exchange in the United States, is focusing on lobbying endeavors in Washington DC aimed at advocating for comprehensive digital asset legislation and backing politicians supportive of cryptocurrency. While they have made previous appearances during the Super Bowl and continue to run television commercials, it is uncertain whether they will take part in Sunday’s advertising campaign.
BlackRock, the world’s largest asset manager, and Grayscale, a multibillion-dollar crypto asset manager, along with other companies involved in recently approved spot Bitcoin ETFs, are abstaining from advertising during Super Bowl LVIII. Despite recent TV and billboard campaigns promoting their offerings, these firms have opted out of the Super Bowl spotlight. CBS, the broadcaster of Super Bowl LVIII, reportedly sold nearly all of its advertising space in early November, potentially preventing the late participation of Bitcoin ETFs, which received SEC approval just two months later.
The lack of cryptocurrency advertisements during Super Bowl LVIII signifies a shift in the industry’s priorities. Rather than relying on costly, one-time events like the Super Bowl, companies are concentrating on formulating long-term strategies, navigating regulatory environments, and attracting a global audience.
