Despite cryptocurrency companies splashing out large sums of money on prominent TV advertising slots during the highly viewed 2022 Super Bowl, the subsequent 2023 event saw none, and the trend looks set to continue into the 2024 Super Bowl this weekend. An in-depth analysis predicts that while several mainstream finance firms and fund managers have chosen to run commercials promoting new exchange-traded cryptocurrency funds (ETFs), no companies from within the crypto industry itself will be showcasing ads during the 58th Super Bowl this Sunday.
According to seasoned Fox Business reporter Eleanor Terrett, who released a special pre-Super Bowl report on the subject earlier this week, major players in the cryptocurrency sphere have unanimously decided against buying advertising time during the big game this year. Terrett spoke directly with Kraken Chief Marketing Officer Mayur Gupta, who confirmed his company would not be investing in Super Bowl spots, believing the all-American event was now too U.S.-centric when the next wave of cryptocurrency adoption is expected to be more global. In contrast, crypto ads in 2022 were focused on hype and FOMO, but the industry now needs more substantive messaging around education and highlighting the true value proposition of crypto to encourage financial freedom worldwide.
The 2024 Super Bowl, set to be watched by over 100 million Americans, will showcase a face-off between AFC champions the Kansas City Chiefs, and NFC winners the San Francisco 49ers. While no crypto firms will be showcasing ads, Terrett’s report did note some mainstream finance companies and fund managers have chosen to run commercials about new exchange-traded cryptocurrency funds they have recently launched. However, inside sources at BlackRock confirmed to her that even they will not be advertising during the 2024 event.
