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Super Bowl: Fox Sports will not air any cryptocurrency ads this year

by Thomas

For this 2023 edition of the Super Bowl, ads for cryptocurrencies will be absent on the Fox Sports channel. This is in contrast to last year, when Coinbase and FTX stood out.

Cryptocurrencies absent from Super Bowl ads

Cryptocurrencies were the stars of the 2022 Super Bowl ads. The event, which attracts more than 100 million viewers each year, is a boon for brands, who are snapping up the spots at a premium.

However, for the 2023 edition of the US football championship final, cryptocurrencies will be absent from the Fox Sports TV channel. In reality, this should not be seen as a consequence of any ban, but only because the ecosystem players did not see fit to spend the necessary budget.

Last year, Coinbase and FTX stood out. The former had proposed a minimalist advertisement of a C moving on the screen by changing colour, then giving way to a QR code allowing to get 15 dollars of Bitcoin (BTC) by registering on the platform. Due to the success of the operation, Coinbase’s servers were saturated.

For its part, FTX played the creativity card by calling on the comedian Larry David. He was portrayed in different historical periods, showing himself to be sceptical about several inventions that have changed our daily lives. At the end of the ad, when someone presents him with the FTX application as a safe way to get into cryptos, his ironic response takes on a meaning not anticipated at the time:

” Yes… I don’t think so. I’m never wrong about that sort of thing, never. “

$200,000 a second

The cost of an advert is $6 million on average for 30 seconds of advertising. On that basis, that’s $200,000 per second, or almost $60 per viewer. Some brands are paying as much as $7 million and Mark Evans, Fox Sports’ executive vice president of sales, estimates that more money has never been spent.

With such high entry costs and in the current bear market, it is understandable that crypto companies prefer to focus on other areas of development. Since last year, FTX has gone bankrupt due to the financial crimes of its founder, and Coinbase has resorted to numerous layoffs.

In June 2022, as the crisis and layoffs intensified, Changpeng Zhao (CZ) took the opportunity to send a subtle provocation to his competitors by announcing that it had been difficult to say no to Super Bowl ads, but that Binance was hiring 2,000 people:

So, while Fox Sports is likely to run new cryptocurrency-related ads in future editions of the Super Bowl, that will clearly not be the case this year.

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