[ad_1]
In 2022, Coinbase reportedly spent $14 million on 60-second ads of QR codes moving around the screen. But after a year without crypto advertising during the Super Bowl, it’s unclear whether the country’s largest exchange plans to run ads during Sunday’s Super Bowl, one of the nation’s biggest marketing opportunities. So it’s unclear.
According to Fox Business, many other major cryptocurrency companies have already admitted to passing on advertising for the big game, including Kraken, the country’s second-largest exchange. Bitcoin spot ETF issuers like BlackRock and Grayscale also have no plans to run ads during the game, as their Super Bowl ad space sold out in November, long before the spot ETF was approved last month.
This is a dramatic reversal from crypto-centric advertising in 2022, but not shocking after the FTX collapse. Some celebrities who have previously advertised for the exchange, including football legend Tom Brady and comedian Larry David, who appeared in the company’s 2022 Super Bowl ad, have claimed to have profited unfairly from FTX. It has been revealed that the company is the subject of a class action lawsuit.
Some Web3 companies have been successful in promoting their products in other ways as well. With the NFL Playoffs leading up to the Super Bowl, Dapper Labs, the team behind NFL All Day, is launching a Super Bowl-related series featuring retired legends and multiple Super Bowl champions Joe Montana and John Elway. We promoted NFT drops.
The Super Bowl will be broadcast tomorrow, with the game between the San Francisco 49ers and Kansas City Chiefs taking place in Las Vegas starting at 3:30 p.m. local time.
Disclaimer: The Block is an independent media outlet that delivers news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful, and timely information about the cryptocurrency industry. Current financial disclosure information is as follows:
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[ad_2]
Source link
