• Crypto companies are scaling back their advertising campaigns during Super Bowl LVI due to recent market downturns.
• Factors such as the Russian-Ukraine conflict, inflation spike, and risk-on uncertainty have contributed to this decision.
• Crypto firms are now focusing on user experience, products, and customer service instead of flashy advertisements.
Crypto Companies Scale Back for Super Bowl LVII
Due to recent market downturns in the cryptocurrency space, crypto companies are scaling back their advertising campaigns for Super Bowl LVII. Factors such as the Russian-Ukraine conflict, inflation spike and risk-on uncertainty have made it difficult for crypto firms to justify large ad spends.
Focus Shifts from Advertising to User Experience
Crypto firms are now shifting their focus away from flashy ads towards investing in better user experiences, products, and customer service. Web3 gaming firm Limit Break will be at this year’s Super Bowl with an interactive TV ad that giveaways 10,000 NFTs through viewers scanning an on-screen QR code.
FTX Scandal Rocks Crypto Space
The FTX scandal has shaken confidence in the digital asset industry after months of optimism when the total market cap reached an all-time high of $3 trillion. This has led to a change of tack from crypto firms who are now looking towards more sustainable growth strategies.
Coinbase and eToro Reduce Ad Spend
Coinbase declined comment on its advertising strategy while eToro told CNN that it won’t be advertising during this year’s Super Bowl but will continue „investing heavily” in marketing via other channels.
The muted spending by crypto companies during this year’s Super Bowl marks a shift away from glitzy adverts towards investing in sustainable user experience , products , and customer service .