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Following the FTX scandal and wider market downturn, crypto companies are set for a muted showing during this year’s super bowl<\/a>,<\/p>\n Crypto firms marked last year’s Super Bowl with high-profile advertising campaigns, signaling the arrival of digital assets in the mainstream.<\/p>\n Coinbase, FTX, Crypto.com, and eToro<\/a>although not exclusively crypto-focused, all stumped up the minimum $6.5 million<\/a> for advertising slots during the half-time interval. Binance opted to run ads around the game rather than during the premium slot.<\/p>\n Pundits saw the showing as a milestone moment for the nascent digital asset industry. More so, as months prior, the total market cap had reached an all-time high of $3 trillion, sparking curiosity among normies.<\/p>\n However, due to a multitude of factors, including the start of the Russian-Ukraine conflict, the beginning of the inflation spike, and risk-on uncertainty, the spending Failed<\/a> to bring about the expected “massive influx” of new users.<\/p>\n Since then, a series of scandals and bankruptcies, most notably the FTX saga, have rocked the space, triggering a change of tack from crypto firms.<\/p>\n eToro told CNN that it wouldn’t be advertising at this year’s Super Bowl. However, it continues to “invest heavily in marketing” via other channels.<\/p>\n \u201cWe dial up or down specific channels based on many factors including market conditions.\u201d<\/p>\n<\/blockquote>\n Coinbase declined to comment on its advertising strategy, while Crypto.com did not respond.<\/p>\n Nevertheless, the Web3 gaming firm Limit Break<\/a> will be at the Super Bowl. Company CEO Gabe Leydon said its interactive TV ad will give away 10,000 NFTs through viewers scanning the on-screen QR code.<\/p>\n \u201cLimit Break’s free-to-own NFT model is literally game-changing, and these asset releases are key moments building up to our upcoming Super Bowl commercial.\u201d<\/p>\n<\/blockquote>\n Bitstamp’s Head of Marketing, Silvia Lacayo, said crypto firms have shifted from spending on adverts to “investing in better user experiences, products, and customer service.”<\/p>\n Indeed, during the depths of crypto winter, Binance CEO CZ<\/a> criticized rivals, particularly Crypto.com, for spending $700 million on the Staple’s Center naming rights, saying his firm is in a solid financial position having turned down these deals.<\/p>\n This year’s Super Bowl is scheduled for Feb. 12 and will feature the Philadelphia Eagles and Kansas City Chiefs.<\/p>\nCrypto mania dies down<\/h2>\n
Crypto firms change tack<\/h2>\n
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