Kraken’s Decision Not to Run Super Bowl Ads
According to Mayur Gupta, Kraken’s Chief Marketing Officer, crypto companies, including Kraken, decided not to advertise during the recent Super Bowl event. The decision is part of a strategy to attract a more global audience instead of focusing solely on the United States.
Crypto Advertising Strategy Shift
Gupta emphasized that the focus in crypto advertising is shifting from hype and FOMO (Fear of Missing Out) to educating the public on crypto and its benefits. This shift aims to raise awareness about the true value proposition of crypto as a movement that provides financial freedom and inclusion.
The Crypto Bowl
Dubbed the “Crypto Bowl” in 2022, crypto commercials were highly visible during the Super Bowl event. However, crypto ads were banned in 2023 due to various challenges faced by the crypto industry. This year, leading firms chose not to use the Super Bowl platform for advertisement despite the ban being lifted.
Avoidance of Bitcoin ETF Ads
BlackRock, the world’s largest asset manager, refrained from advertising its Bitcoin ETF during the Super Bowl event. The decision comes after a recent uptick in the approval of these investment products by the SEC. Additionally, asset management firm VanEck expressed a positive sentiment about the absence of crypto ads during the event.
Hot Take: Global Crypto Awareness Strategy Is Key
It’s clear that the decision not to run Super Bowl ads is part of a deliberate global crypto awareness strategy. Companies like Kraken are shifting their advertising focus from hype to substance and education, recognizing the importance of reaching a diverse audience. This highlights the growing impact of crypto on a global scale and the need for a more inclusive approach to marketing and advertising within the industry.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.