Coinbase, Crypto.com, eToro, and FTX advertised at Super Bowl LVI as last year crypto markets were firmly part of the zeitgeist. This year, declining prices amid a turbulent macroeconomic backdrop and several high-profile collapses have pushed crypto to the sidelines.
Still, there will be some representation during one of the most-watched events on television — one that brings in an audience of about 100 million people annually.
A first appearance for NFTs
NFT and gaming company Limit Break spent $6.5 million to advertise during Super Bowl LVII. The firm will be pushing its “free-to-own” digital collectibles this evening.
Limit Break, which received investment from collapsed crypto exchange FTX last year, spent the money on a 30-second spot.
“This marks the first time an NFT developer has purchased a Super Bowl ad,” the company said.
Zero representation on Fox
Two crypto advertisers had commercials booked with Fox, with two more almost completed, Mark Evans, executive vice president of ad sales for Fox Sports, told AP. Still, the deals were never finalized following the collapse of FTX. “There’s zero representation in that category on the day at all,” Evans said.
Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
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Source: https://www.theblock.co/post/210876/cryptocurrency-adverts-benched-ahead-of-super-bowl-lvii?utm_source=rss&utm_medium=rss