Cryptocurrency advertising is one of the main highlights of the 2022 Super Bowl, Cryptocurrency companies like Coinbase Put on a show.This is why there are no crypto ads at this year’s super bowl Can not be ignored.
Many in the crypto community wonder why these companies choose not to capitalize on the buzz generated by football events.
Cryptocurrency ads fail to make it to Super Bowl
wall street journal report How food manufacturers could be the highlight of this year’s advertising Cryptocurrency Advertising Failed to show up.This represents a complete shift from 2022, when Coinbase and Even FTX no longer exists were given a 30-second commercial break to air their ad.
Although these cryptocurrency ads will also barely appear during the 2023 Super Bowl, this situation is more understandable considering that many cryptocurrency companies are trying to maintain their brand image. head above water in the middle of ‘crypto winter.’
However, Fox Business report Despite more favorable market conditions, many companies still lack the funds for such advertising.Bitcoinists have report How advertisers must spend a staggering $7 million just to get a 30-second spot.
Meanwhile, cryptocurrency companies with such advertising funds believe they can spend their budgets elsewhere instead of the Super Bowl. Kraken Chief Marketing Officer (CMO) Mayur Gupta suggestion Cryptocurrency exchanges pay more attention Reach users outside the United Statessomething the Super Bowl may not help achieve.
He also pointed to a shift in the way cryptocurrency companies market themselves. in the last wave, the focus of corporate advertising on the Super Bowl is to hype and incite FOMO (fear of missing out). Marketing campaigns are now more focused on education and awareness.
Spot Bitcoin ETF issuers also got the memo
Spot Bitcoin ETF Issuers willing to execute any marketing strategy Necessary to maintain dominance. That’s why it wouldn’t be surprising to see any of these publishers get a 30-second spot in the Super Bowl. However, they all chose not to do so.
This suggests that these issuers also understand that cryptocurrency marketing has moved beyond hype and that spending so much money on Super Bowl airtime may be redundant.Interestingly, asset managers like BlackRock also chose Focused on raising awareness about the importance of cryptocurrencies, specifically Bitcoin.
Meanwhile, issuers like Bitwise have found a way to connect with the cryptocurrency community to gain recognition. Asset management firm has pledged to donate 10% of its profits Bitwise Bitcoin ETF Three non-profit organizations funding open source development of Bitcoin.
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