Crypto Companies Will Reportedly Have No Presence During Super Bowl LVII

It is claimed that Super Bowl LVII viewers will not be exposed to as many advertisements for cryptocurrency firms as they did in 2022.

According to an Associated Press report, there were four possible deals with cryptocurrency companies for advertising in the 2023 Super Bowl. These deals would have cost between $6 and $7 million. All these deals collapsed after FTX filed for bankruptcy on November 6. According to reports Mark Evans, Fox Sports’ senior vice president for ad sales, said that large cryptocurrency firms would have “zero presence” on February 12. This is when approximately 100 million people might tune in to see the football game.

FTX and Coinbase were among the first companies to air their advertisements during Super Bowl LVII in 2022. Larry David, a comedian and actor, can be heard telling customers that cryptocurrency is worth their while in the FTX ad. It aired about nine months before Sam Bankman-Fried filed for Chapter 11 bankruptcy. This was around the time Bankman-Fried got charged with fraud.

David was later included in a class action complaint alleging that he misled investors through his promotion of a cryptocurrency exchange without doing sufficient research. Others well-known individuals, such as Matt Damon who supported Crypto.com and Naomi Osaka who backed FTX have also been criticised for their involvement with the cryptocurrency industry.

According to the AP’s information, Limit Break, a gaming startup, stated on February 6th that it would broadcast interactive advertising during Super Bowl LVII. It plans to distribute nonfungible tokens, NFTs, with a dragon motif. The advertisement will not portray a famous person but instead will include a QR code that viewers can scan.

Numerous authorities worldwide began to clamp down on cryptocurrency advertising after the 2022 cryptocurrency market crash. According to recent reports, the Federal Trade Commission of the United States launched an investigation into many cryptocurrency businesses for “potential misbehaviours affecting digital assets.” In January, the governor of the Central Bank of Ireland stated that he would support legislation to prohibit advertising cryptocurrency projects to anyone under 18.

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