Crypto Ads Absent from Super Bowl, Leaving Many Wondering Why
The absence of crypto ads during this year’s Super Bowl has caught the attention of the crypto community. In previous years, companies like Coinbase and FTX took advantage of the event to showcase their commercials. However, according to The Wall Street Journal, food makers dominated this year’s commercials, leaving no room for crypto ads.
This is a significant shift from 2022 when crypto ads were present during the Super Bowl. The lack of crypto ads in 2023 was understandable due to the challenging market conditions. Despite more favorable conditions this year, many crypto companies still lack the funds to invest in Super Bowl advertising.
Shifting Marketing Strategies
Crypto companies that can afford Super Bowl ads have chosen to allocate their budgets elsewhere. Kraken’s CMO, Mayur Gupta, explained that the exchange is focused on attracting international users, which may not be achieved through Super Bowl advertising. Furthermore, crypto companies have shifted their marketing strategies from hype and FOMO to education and awareness.
Spot Bitcoin ETFs and Marketing
Spot Bitcoin ETF issuers also opted out of Super Bowl advertising, indicating an understanding that crypto marketing has evolved beyond hype. These issuers recognize that spending a significant amount on Super Bowl airtime may be redundant. Instead, they are focusing on creating awareness about cryptocurrencies and their significance.
Bitwise, for example, has pledged to donate a portion of its Bitwise Bitcoin ETF profits to non-profit organizations funding Bitcoin open-source development as a way to connect with the crypto community and gain acceptance.
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