US-based digital asset exchange Kraken and other crypto companies have reportedly decided not to buy advertising space for the year's biggest marketing event.
Most major crypto companies have decided not to air commercials during Sunday's Super Bowl LVIII game between the San Francisco 49ers and Kansas City Chiefs, Fox Business reports.
Mayur Gupta, chief marketing officer at Kraken, says the Super Bowl may not be the best way to reach the next generation of crypto users.
“The Super Bowl is a very US-centric event and the next wave of crypto users will come from all over the world, not just the US.
If the last wave of crypto marketing was about hype and FOMO (fear of missing out), this current wave is about the true nature and true value proposition of crypto as a movement for economic freedom and inclusion. It must be rooted in education and awareness about ”
Report too To tell Many crypto companies don't have the advertising budgets they once did, and the biggest companies find it more practical to spend their funds elsewhere.
Coinbase, the largest U.S. cryptocurrency exchange, did not advertise during the event, nor did the company that published it. Bitcoin (BTC) Exchange Traded Fund (ETF) including asset management giants BlackRock and Grayscale.
The U.S. Securities and Exchange Commission (SEC) gave the green light to a Spot Bitcoin ETF in January, but Super Bowl ads had already sold out in November.
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