Why were there so many crypto ads during the Super Bowl? The growth of cryptocurrency has been primarily as an investment, not as a medium of exchange.
Cryptocurrencies are a form of digital currencies built on blockchain technology, that keeps track of every transacts who were there so many cryptos in.
Super Bowl ads is some of the most famous spots on network television. This year a 30 second Super Bowl spot sold for $6.5 million according to NBC. Last year commercials averaged $5.6 million on CBS.
The commercial breaks during Super Bowl LVI, where a 30-second spot cost about $7 million, featured eye-catching advertisements for cryptocurrency companies such as ‘Coinbase’ and’ eToro’. Many great celebrities like Larry David appeared in an ad for FTX and LeBron James also for Crypto.com.
“Showing up in the most premium real estate in all of the television allows them to rent the legitimacy of that space and say, ‘We’re here and we’re part of this American tradition,’” said Jason Damata, founder and CEO of Fabric Media, a strategy and marketing company. “You get brand equity and credibility that way —trust, recognition, and that drives up purchase intent.”
“I’m sure these crypto companies will see a huge rise in downloads and sign-ups so they can quantify a return on their investment,” Damata said.
Crypto marketing became more high-profile in recent months with the debut of the famous Crypto.com campaign featuring actor Matt Damon telling prospective investors that “fortune favors the bold.” The crypto has been shown on Saturday nights also.
In fact, some are calling this year’s NFL championship game the Crypto Bowl – because so many of the event’s commercials will be released on cryptocurrency.
These ads are very helpful, especially to those who have bet big on cryptocurrency, they see this as a sign that the new money has finally gone mainstream. Crypto companies have spent about $113 million in ads since January 2020, according to ‘Bloomberg news’.
Digital currency isn’t the only thing being sold at the game. A-listers from Kevin Hart, Megan Thee Stallion, Ewan McGregor, Zendaya will also be pitching everything from travel packages to potato chips.
For more updates stay tuned at the StanfordArts Review