Crpyto was all the buzz at the beginning of 2022 and Super Bowl 56 was the perfect venue for crypto companies with celebrity endorsements to reach the masses. Millions of dollars were spent on crypto advertising by FTX , Coinbase , and Crypto.com among others.
Tom Brady, Larry David, Gisele Bundchen, Steph Curry, and Shaquille O’Neal were lining up to endorse FTX and spread its reach to the masses. Now they find themselves being part of a class action lawsuit since the collapse of FTX.
Coinbase , a crypto platform whose stock is down 70% from a year ago, had people getting off their sofas last year to capture a bouncing QR code in its commercials generating 20 million hits on its website in one minute, the company said.
In retrospect the crypto wave had grown too big and fast due to all the hype . Just like a wave on the ocean can only grow until it can no longer support it’s own weight the crypto wave broke and crashed hard.
For Super Bowl 57 Crypto’s Out , Alcohol Is In
Sky News Business Editor Ross Greenwood says there’s not a “single crypto ad” being played at the Super Bowl 57 after the collapse of FTX and Bitcoin.
“The US Fox Sports has just closed its ad bookings for Super Bowl 57 between the Philly Eagles and the Kansas City Chiefs,” Mr Greenwood said.
“After the spectacular collapse of FTX and also Bitcoin falling to around $22,000 US today, there’s not a single Crypto ad in sight.
“None were prepared to fork out the six to seven million dollars US for a 30-second ad in the most watched event on US television.”
According to Mark Evans executive vice president of ad sales for Fox Sports :
Anheuser-Busch remains the biggest advertiser with three minutes of national airtime. The beverage giant gave up its deal to be the exclusive alcohol advertiser this year, so Heineken, Diageo, Remy Martin and Molson Coors are also in the game. Other big categories advertising include packaged food like Doritos and M&Ms, movie studios and streaming services, automakers and tech companies, Evans said.
From the crypto hodlers perspective this Super Bowl feels much more normal. We are used to being outlier’s and on the fringes . Crypto being showcased on a venue like the Super Bowl feels unnatural. We know that these times when no one is talking about crypto is the time that we use to silently and without attention use every day and week to accumulate just a little more crypto than the day we had before.
