The FTX Effect: Super Bowl LVII Will Not Be Airing Cryptocurrency Ads
As the National Football League (NFL) gears up for Super Bowl 57 at State Farm Stadium in Glendale, Arizona, there will be a notable omission in the advertising rotation this time around. It appears the NFL wants nothing to do with the promotion of digital currencies, and in fact, has outright banned such ads. This almost certainly stems from the league’s tarnished reputation following FTX’s high-profile collapse last November.
Despite the fact that last year’s Super Bowl was filled with crypto ads from various sponsors, the stench of association following crypto’s dark winter has changed attitudes in the league office. Last year, the cryptocurrency sector dominated the championship airwaves, which was even dubbed the ‘Crypto Bowl‘ for the flashy commercials by no less than four companies.
Below, one such ad sponsored by FTX and featuring popular comedian and actor, Larry David.
Of course, prospective depositors that opted not to deposit money on the platform are the people that ultimately didn’t miss out.
And yet another crypto ad misstep—this one featuring future Hall of Fame quarterback Tom Brady—which also aired during the big game last year.
Specifically, FTX, Coinbase, Crypto.com, and eToro spent millions of dollars for time slots as part of a joint effort to drive adoption of digital currencies among a broader audience, according to the New York Post.
The crypto.com commercial even featured basketball star LeBron James talking to a younger version of himself, while the Coinbase commercial proved so popular that downloads of the app skyrocketed and temporarily collapsed the website due to the popularity of the transmission.
However this year, the crypto airwaves will run completely silent. Digital asset advertisers were shunned from bidding on air space even though at least two ads already had commercials “booked and ready” to go. And two others were in the final stretch for deals.
The move to restrict crypto advertising is a setback in terms of visibility to a wider audience. The Super Bowl is one of the most watched television events in the United States, drawing nearly 100 million American viewers. It is by far the most watched single-event on North American television, which includes many in the key 18-49 consumer demographic.
Super Bowl LVII kicks off this Sunday as the Kansas City Chiefs take on the Philadelphia Eagles and featuring Tier-1 singing artist Rihanna on the halftime stage.