Skip to main content

Join Our Telegram channel to stay up to date on breaking news coverage

Several leading crypto companies, including crypto exchange Kraken, chose not to run ads during the annual Super Bowl LVIII in the US as they aim to appeal to a more global audience. 

“The Super Bowl is a very U.S.-centric event, and the next wave of crypto users will come from all around the world, not just the United States,” Mayur Gupta, Chief Marketing Officer at Kraken, told FOX Business.

Crypto exchange Kraken to close Japan operations after mass job cuts

Kraken Focusing On Crypto Education More Than Generating Hype

Gupta also emphasized a transition in crypto advertising that moves beyond just generating hype and focusing more on educating the public on crypto and its associated benefits. 

“If the last wave of crypto marketing was all about hype and FOMO (Fear of Missing Out), this current wave has to be rooted in education and awareness for the substance and true value proposition of crypto as a movement that will bring financial freedom and inclusion, ” said the Kraken executive.

In 2022, the annual sporting event was dubbed the “Crypto Bowl” as crypto commercials dominated the game’s ads. FTX stood out as a major advertiser that year with an ad featuring comedian Larry David. 

Companies including Coinbase, Crypto.com and eToro were among other crypto giants that invested heavily in the 30-second commercials during the biggest NFL game of the year in 2022. 

However, Super Bowl LVII banned crypto ads in 2023 as crypto firms struggled with layoffs, bankruptcies and intense legal scrutiny in the aftermath of FTX’s collapse at the end of 2022. 

No Bitcoin ETF Ads At The Super Bowl

The ban was lifted for this year’s event, but leading firms decided not to use its platform to reach out to the more than 100 million viewers the sporting event has drawn annually since 2010. 

The world’s largest asset manager, BlackRock, also chose not to secure any advertising slots for its spot Bitcoin ETF (exchange-traded fund). This is after speculation of a Super Bowl ETF ad appearance grew following the recent approval of the investment products by the Securities and Exchange Commission.

In a Feb. 8 X post, asset management firm VanEck said that no crypto ads in the event “will be a good sign.”

Related Articles:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 50% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage




Source link

Leave your vote

Blockchain Beat

Author Blockchain Beat

More posts by Blockchain Beat

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

close

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.