Crypto ads absent once again from Super Bowl 2024 due to drop in industry revenue
NY Post
Anyone hoping to see crypto ads during this year’s Super Bowl will be disappointed.
FOX Business has learned most major cryptocurrency firms will once again sit on the sidelines during the biggest marketing event of the year when the San Francisco 49ers and the Kansas City Chiefs face off in Las Vegas on Sunday for Super Bowl LVIII.
While the $1.7 trillion digital asset market is in a much better place than this time last year during the so-called “crypto winter,” crypto companies don’t have the money they once had for advertising, and those that do believe they can better spend their ad dollars away from the NFL spotlight.
Kraken, the second-biggest crypto exchange in the U.S., is not taking out a Super Bowl ad.
“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 tells FOX Business. “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.”
The U.S.’s largest crypto exchange Coinbase is focused this year on directing money to lobbying Congress for comprehensive digital asset legislation and making campaign contributions to crypto-friendly politicians in Washington, D.C., ahead of the 2024 elections.
