Super Bowl Bans Crypto Commercials Following FTX Collapse – InsideBitcoins.com
Super Bowl, one of the year’s biggest games, will not feature any crypto commercials this year. The Super Bowl has banned all crypto commercials from the games’ ads following FTX’s collapse and bankruptcy.
Last year’s game, Super Bowl 56, was dubbed the “Crypto Bowl,” as crypto commercials dominated the game’s ads. Companies such as FTX, Coinbase, Crypto.com, and eToro invested heavily in the 30-second commercials during the biggest NFL game of the year. The companies spent additional millions on celebrity-studded ads featuring Larry David and NBA legend LeBron James.
However, this year will be different. Super Bowl LVII will not feature any crypto ads as firms struggle with prevalent layoffs, bankruptcies, and intense legal scrutiny. The arrest of FTX’s controversial founder, Sam Bankman-Fried, charged with defrauding customers of billions, played a significant role.
“There’s zero representation in that category on the day at all,” Mark Evans, executive vice president of ad sales for Fox Sports, told the Associated Press.
According to Evans, two cryptocurrency firms had completed commercials, while two others were close to finalizing them. However, the agreements fell through after the downfall of the cryptocurrency exchange FTX in November.
In 2022, crypto firms invested $54 million in Super Bowl advertisements, as MediaRadar reported. This year, the price per 30-second Super Bowl LVII commercial space ranged from $6 million to $7 million. Some advertising deals cost more than $7 million.
The National Football League championship game’s Super Bowl attracts around 100 million viewers globally annually. The considerable viewership makes it a highly desirable advertising platform for companies.
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