Super Bowl LVIII is set to captivate millions of viewers as the Kansas City Chiefs face off against the San Francisco 49ers in what promises to be a thrilling game. However, this year’s Super Bowl will noticeably lack the cryptocurrency exchange advertisements that took center stage during Super Bowl LVI in 2022. While the previous year saw a surge in crypto-related ad spots, 2024 marks a distinct shift away from financial technology themes.
A Shift to Fun and Humor:
As reported by CNN, companies advertising during Super Bowl LVIII have opted for a departure from financial technology themes, embracing a focus on “fun, humor, and entertainment.” Paul Hardart, a clinical professor of marketing at New York University’s Stern School of Business, notes the notable shift away from the dominance of artificial intelligence (AI) and crypto firms in this year’s ad lineup.
In 2022, Super Bowl LVI witnessed the debut of several cryptocurrency firms, including FTX, eToro, Crypto.com, and Coinbase. However, the aftermath of this crypto ad extravaganza was far from amusing. Larry David’s appearance in FTX’s ad coincided with the exchange’s collapse, leading to multiple lawsuits from disgruntled investors.
Super Bowl LVII in 2023 marked a significant departure from the previous year, with no mention of digital assets in any ads. This shift followed the bankruptcy filings of several crypto firms and a significant downturn in the cryptocurrency market.
Advertisers and Entertainment Focus:
The list of advertisers for Super Bowl LVIII features renowned brands like BMW, Budweiser, State Farm, Oreo, DoorDash, and Hellman’s Mayonnaise. These companies are expected to steer away from financial and tech-related themes, focusing instead on creating entertaining and engaging commercials. The price for a 30-second ad spot reportedly reached an astonishing $7 million.
One of the most anticipated moments of Super Bowl LVIII is the presence of global superstar Taylor Swift. Swift, whose partner Travis Kelce plays tight end for the Kansas City Chiefs, is set to fly directly to Las Vegas from Japan, where she has a concert scheduled just a day before the kickoff.
Crypto Advertising: A Rollercoaster Ride:
Over the years, the cryptocurrency industry has left an indelible mark with memorable advertisements. Actor Matt Damon’s dramatic “Fortune Favors the Brave” ad for Crypto.com in October 2021 garnered attention for its engaging presentation. Sports stars like Shaquille O’Neal and Naomi Osaka also contributed to the industry’s efforts to reach a broader audience through celebrity endorsements in 2022, particularly with FTX.
However, the crypto advertising landscape has not been without its challenges. Larry David’s regrettable association with FTX’s collapse is a reminder of the industry’s inherent volatility. The subsequent absence of crypto-related ads in Super Bowl LVII signaled a more cautious approach.
Super Bowl LVIII serves as a barometer for the evolving dynamics between the cryptocurrency industry and mainstream advertising. The shift away from crypto-related themes in this year’s Super Bowl commercials suggests a growing awareness among advertisers of the need for stability and reliability. As controversies surrounding crypto ads linger, brands are opting for the allure of entertainment and humor to captivate the massive Super Bowl audience.
The absence of crypto-related advertisements at Super Bowl LVIII does not diminish the industry’s potential or impact. It merely reflects a strategic recalibration in response to past controversies and market fluctuations. As the cryptocurrency space matures, the challenge lies in striking a balance between innovation, responsible advertising, and navigating the unpredictable nature of the market. Super Bowl LVIII provides a snapshot of the industry’s current trajectory, hinting at a more nuanced and cautious approach in the realm of mainstream advertising.
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