In 2022, Coinbase reportedly spent $14 million on a 60-second QR code ad that scrolled across the screen. However, it is currently unclear whether the nation’s largest exchange will advertise on Sunday’s Super Bowl, one of the nation’s biggest marketing opportunities.
Many other major crypto companies have already confirmed they are streaming ads for the big game, including Kraken, the country’s second-largest exchange according to Fox Business. Issuers of Bitcoin Spot ETFs, including BlackRock and Grayscale, are also not expected to advertise during the game as Super Bowl advertising slots sold out in November before spot ETFs were approved last month.
The crypto-heavy advertising of 2022 was a dramatic reversal from the current year, although not surprising after the collapse of FTKS. Some celebrities who once advertised for the exchange, including football legend Tom Brady and comedian Larry David who starred in the company’s 2022 Super Bowl ad have found themselves subject to a class-action lawsuit accusing them of improperly profiting from FTX.
Web3 companies are also finding ways to promote their products outside of traditional advertising methods. Dapper Labs, the team behind NFL All Day promoted Super Bowl-related NFT tournaments with retired legends and multiple Super Bowl champions Joe Montana and John Elway in addition to promoting NFL playoffs leading up to the Super Bowl.