According to recent data, the Super Bowl has continuously attracted more than 100 million viewers annually since 2010. Nevertheless, it is said that Kraken, a cryptocurrency exchange, has no desire to advertise at the “U.S.-centric event.”
This Sunday is Super Bowl LVIII, and the cryptocurrency community is curious about reports that, like last year, there won’t be any cryptocurrency advertisements this year. But according to a representative of the cryptocurrency exchange Kraken, the event’s US-centric focus conflicts with its international ambitions. Notably, comedian Larry David was one of the prominent advertisers for the now-defunct cryptocurrency exchange FTX during the 2022 Super Bowl. However, the firm collapsed after just nine months.
David reportedly expressed regret about participating in the FTX ad, when he urged viewers to “not miss out on the next big thing,” on February 1. David said, “So, like an idiot, I did it.”
Kraken’s chief marketing officer, Mayur Gupta, highlighted a shift in the industry’s approach to cryptocurrency advertising in a recent Fox Business piece. Rather than focusing on creating hype, Gupta wants to educate people about the potential of cryptocurrency.
“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.” Moreover, Gupta made the observation that the Super Bowl primarily serves an American audience.
He believes that the next big wave of cryptocurrency users will originate from all over the world, indicating the exchange’s preference for events that are more widely attended.
“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,” he said. In the meantime, the U.S. federal government is attempting to raise the Super Bowl’s global viewership this year, according to a recent Reuters article. According to reports, the game will be televised in 190 countries, and the US State Department will assist in setting up watch parties in 30 foreign sites.
Neilsen research indicates that since 2010, the Super Bowl has averaged over 100 million viewers annually.
After the US Securities and Exchange Commission (SEC) approved eleven Bitcoin exchange-traded funds (ETFs) on January 10, there was conjecture that certain asset management companies could think about running advertisements during the Super Bowl.
But according to reports, BlackRock, the biggest asset management in the world, has not yet secured any advertising slots for its spot Bitcoin ETF product.
The asset management company VanEck, another recently accepted application, stated on X that it will be advantageous that there won’t be any cryptocurrency advertisements during this year’s Super Bowl.
According to recent reports, there were no crypto commercials during Super Bowl LVII in 2023—the first game played after multiple cryptocurrency companies filed for bankruptcy and the market crashed.
In a “notable shift away” from artificial intelligence (AI) and cryptocurrency enterprises, Paul Hardart, a clinical professor of marketing at New York University’s Stern School of Business, predicts that the subject of Super Bowl LVIII advertisements will likely be “fun, humour, and entertainment.”