• Mon. Feb 26th, 2024

Super Bowl 2023: Crypto Ads Go Cold – Will Coinbase Follow Suit?

ByEditor

Feb 10, 2024
Kraken, ETF issuers, and other major players in crypto opt out of Super Bowl ads, according to Fox Business

In 2022, Coinbase reportedly spent $14 million on a QR code ad that moved around the screen. However, after a year of no Super Bowl crypto ads, it remains uncertain whether the country’s largest exchange plans to advertise during this Sunday’s game.

Many major crypto companies have already confirmed that they will not be advertising at the Super Bowl, including Kraken, the second-largest exchange in the country. Bitcoin Spot ETF issuers such as BlackRock and Grayscale are also not expected to advertise during the game as Super Bowl ad slots sold out in November before the approval of spot ETFs last month.

This is a dramatic reversal from 2022’s crypto-heavy advertising but not entirely surprising in light of FTX’s collapse. Some celebrities who once advertised for FTX found themselves subject to a class-action lawsuit accusing them of profiting improperly from the exchange.

Despite this, some Web3 companies are managing to promote their products in other ways. Dapper Labs, creators of NFL All Day NFTs, has been promoting Super Bowl-related drops featuring retired legends and multi-time champions Joe Montana and John Elway alongside the NFL playoffs leading up to the Super Bowl.

The Super Bowl kicks off tomorrow between San Francisco 49ers and Kansas City Chiefs in Las Vegas at 3:30 pm local time.

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