In 2022, Coinbase reportedly spent $14 million on 60-second ads of QR codes moving around the screen. But after a year of no crypto advertising at the Super Bowl, it's currently unclear whether the nation's largest exchange plans to run ads at Sunday's Super Bowl, one of the country's biggest marketing opportunities. .
A number of other major cryptocurrency companies have already admitted to running ads for the big game, including Kraken, the country's second-largest exchange, according to Fox Business. Bitcoin spot ETF issuers like BlackRock and Grayscale also have no plans to run ads during the game, as their Super Bowl ad space sold out in November, long before the spot ETF was approved last month.
This is a dramatic reversal from crypto-centric advertising in 2022, but not shocking after the FTX collapse. Some of the celebrities who previously advertised for the exchange, including football legend Tom Brady and comedian Larry David, who appeared in the company's 2022 Super Bowl ad, have been unfairly charged by FTX. It turns out that the company is the subject of a class action lawsuit alleging profiteering.
Some Web3 companies have been successful in promoting their products in other ways as well. With the NFL Playoffs leading up to the Super Bowl, Dapper Labs, the team behind NFL All Day, is launching a Super Bowl-related series featuring retired legends and multiple Super Bowl champions Joe Montana and John Elway. We promoted NFT drops.
The Super Bowl will be broadcast tomorrow, with the game between the San Francisco 49ers and Kansas City Chiefs taking place in Las Vegas starting at 3:30 p.m. local time.
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