- Super Bowl LVI had a 208 million viewership; this year, it could be higher.
- Major crypto entities booked slots for advertising last year.
- Due to some incidents and prevailing market conditions, only 1 booked the slot.
Superbowl LVI had a massive viewership of approximately 208 million, providing a great opportunity for anyone booking an advertising slot to reach a huge audience. Crypto entities also invested massively last year, but the recent collapse events, bankruptcies, and crypto winter badly affected everyone in 2022. Hence the slot booking this year is almost skipped by the crypto industry.
Super Bowl LVI was a ‘debutante ball’ for the crypto industry; companies came up with exciting pitches, spending millions of dollars to rope in celebrities and influencers, invigorating viewers not to be afraid of this new digital investment and not to miss out on this exciting opportunity. But sadly, due to everything that happened in the industry last year, this year’s turnout from the crypto world would be less.
Among the four crypto-affiliated companies that broadcasted their ads last year, FTX had collapsed, while Cinbase, Crypto.com and eToro are fighting against the difficult conditions. The shares of the only publicly traded Coinbase had fallen by 60% since the floating QR code advert became a hot topic.
There are fewer expectations of companies returning this year, as FTX is under investigation, eToro announced it would not participate, and Coinbase never commented on the question. At the same time, Crypto.com, which featured LeBron James in a popular ad, also disdained to speak about it.
Crypto would not be completely out of the picture as a newcomer; a blockchain-based game developer, Limit Break, had already secured a spot and was looking for a giveaway of 40,000 NFTs to viewers who would scan their QR code.
In this harsh crypto winter, the market needs to acclimatize itself for survival, and sports advertising is still important for targeting a demographic. The reason is simple: most viewers are younger males with risk-taking abilities, just what the market wants.
Change in strategy after a defeat is required to win; the recent shift towards Web3 has attracted enthusiasts to crypto-specific advertising. In comparison, crypto firms focus less on promoting and developing.
The crypto industry will mostly stay away from the Super Bowl LVII as the demographic has changed.
Last year FTX managed a private valuation of $32 billion; its adverts featured Tom Brady, Gisele Bundchen, and Larry David. Just nine months after, they filed for chapter 11 bankruptcy. Last year was also known for higher inflation rates, a slower economy, the post-pandemic era, and higher interest rates have affected everybody.
This paradigm shift could be visible in this year’s adverts; with the current situation being harder than ever, it would be interesting to see how they inspire positivity, happiness and prosperity in such a grim environment.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/02/05/amazing-crypto-adverts-in-super-bowl-lvi-nothing-this-year-why/