Coinbase reportedly spent $14 million on a 60-second ad of a QR code moving around the screen in 2022. However, after a year of no Super Bowl crypto ads, it’s currently unclear whether the country’s largest exchange plans to advertise at the Super Bowl on Sunday.
Several major crypto companies have already confirmed that they won’t be advertising at the big game, including Kraken and Bitcoin Spot ETF issuers like BlackRock and Grayscale. Super Bowl ad slots sold out in November before the approval of spot ETFs last month, making it difficult for any crypto companies to secure spots.
It’s a dramatic reversal from 2022’s crypto-heavy advertising, but not surprising in the aftermath of FTX’s collapse. Some celebrities who once advertised for the exchange found themselves subject to a class-action lawsuit accusing them of profiting improperly from FTX.
However, Web3 companies are finding other ways to promote their products. Dapper Labs, the team behind NFL All Day, has been promoting Super Bowl-related NFT drops featuring retired legends and multi-time Super Bowl champions Joe Montana and John Elway alongside the NFL playoffs leading up to the Super Bowl.
The Super Bowl airs tomorrow in Las Vegas between the San Francisco 49ers and Kansas City Chiefs, starting at 3:30 pm local time.