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Biggest Reasons Why Crypto Ads Skipped Super Bowl LVIII

Despite crypto companies' recent positive performance in the U.S. market, they were noticeably absent from advertising during the Super Bowl.

Tue, 13 Feb 2024, 09:50 am UTC

Just two years ago, the Super Bowl served as a prime platform for crypto companies, notably exchanges like the now-defunct FTX, to elevate their visibility among a broad audience.

However, in stark contrast to previous years, the global event witnessed a notable absence of crypto presence last year due to the prevailing bear market. This year, the absence of crypto advertisements during the event seems to stem more from a strategic realization among companies that such endeavors may not be cost-effective.

Rethinking Advertising Strategies

Reports shed light on a shifting perspective within cryptocurrency firms. While the financial standing of these entities has improved, there is a growing reluctance to allocate significant advertising budgets to such a high-profile stage.

Many industry insiders now view investing in marketing endeavors away from the intense spotlight of the NFL's flagship event as a more prudent and potentially lucrative approach. Notably, the sole noteworthy crypto presence during this year's Super Bowl was former Twitter CEO Jack Dorsey donning a 'Satoshi' t-shirt.

According to Crypto News, even Coinbase, a prominent advertiser in past Super Bowl events, opted out of participating in this year's advertising lineup. Instead, the company has redirected its focus and financial resources towards political engagement. Through lobbying efforts and support for crypto-friendly lawmakers, Coinbase aims to influence digital asset legislation in the lead-up to the 2024 election cycle.

Bitcoin ETFs Remain Low-Key

Surprisingly, there were no advertisements for Bitcoin ETFs during the event, despite aggressive marketing efforts by issuers like BlackRock, BitWise, and Grayscale on social media platforms following the recent approval of ETFs.

According to Coin Telegraph, BlackRock has launched several TV commercials in the U.S. post-launch, while Grayscale embarked on a massive billboard campaign across airports and New York subways.

However, their conspicuous absence from the Super Bowl suggests that firms exercise extreme caution regarding fund allocation, opting for a more conservative approach.

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