Millions of football fans eagerly anticipate Super Bowl LVIII, where the Kansas City Chiefs will head-to-head with the San Francisco 49ers, and can expect a noticeable absence of cryptocurrency exchange advertisements. While Super Bowl LVI in 2022 saw a surge in crypto-related ad spots, 2024 seems different.
Shift away from crypto and AI themes
According to a recent report from CNN, many companies set to advertise during the big game have steered clear of financial technology themes. Paul Hardart, a clinical professor of marketing at New York University’s Stern School of Business, suggests that this year’s ads will likely focus on “fun, humor, and entertainment” in a “notable shift away” from the previous dominance of artificial intelligence (AI) and crypto firms.
In 2022, Super Bowl LVI saw several cryptocurrency firms, including FTX, eToro, Crypto.com, and Coinbase, debut on the advertising stage. However, the aftermath wasn’t all laughs, as comedian Larry David regretted his appearance in FTX’s humorous ad. This ad became infamous as it coincided with the collapse of the crypto exchange, leading to multiple lawsuits from disgruntled investors.
Super Bowl LVII in 2023 marked a significant contrast to the previous year, with no mention of digital assets in any ads. This was a notable development following the bankruptcy filings of several crypto firms and a significant market downturn.
Advertisers in Super Bowl LVIII
For Super Bowl LVIII, the list of advertisers includes notable brands such as BMW, Budweiser, State Farm, Oreo, DoorDash, and Hellman’s Mayonnaise. These companies are set to focus on entertaining and engaging commercials, with the price for a 30-second ad spot reportedly soaring to a staggering $7 million.
Super Bowl LVIII is expected to draw a massive audience, partly due to the attendance of global superstar Taylor Swift. The singer-songwriter, whose partner Travis Kelce plays tight end for the Kansas City Chiefs, will fly directly to Las Vegas from Japan, where she has a concert scheduled just a day before the kickoff.
Memorable moments in crypto advertising
Over the years, the cryptocurrency industry has made its mark with memorable advertisements. One such instance was actor Matt Damon’s “Fortune Favors the Brave” ad for Crypto.com in October 2021, which garnered attention for its dramatic and engaging presentation.
Sports stars like Shaquille O’Neal and Naomi Osaka also lent their star power to promote FTX in 2022, showcasing the industry’s efforts to reach a broader audience through celebrity endorsements.
Source: https://www.cryptopolitan.com/super-bowl-lviii-ditches-crypto-ads/