Why No Crypto-Commercials in Super Bowl 2023?
No money.
Who doesn’t remember the crypto-commercials in Super Bowl 2022?
But this year it was different. There was none.
While it’s difficult to say for sure why there weren’t any crypto-commercials during the 2023 Super Bowl specifically, there are a few potential reasons.
Money
First, advertising during the Super Bowl is notoriously expensive, with a 30-second spot costing upwards of $5 million. While some companies, such as cryptocurrency exchanges and wallets, have significant marketing budgets, the high cost of advertising during the Super Bowl may be prohibitive for many. The last year was tough for many in the industry, no budget for such an expensive endeavor is understandable.
Trust
Second, the cryptocurrency market is still relatively new and untested compared to more established industries. While interest in cryptocurrency has grown significantly over the past few years, many people are still unfamiliar with the concept and may be hesitant to invest. Perhaps the commercials from last year just didn’t bring the attraction, that the crypto-companies were hoping for. As such, it may be difficult for cryptocurrency companies to justify the cost of a Super Bowl ad if they are not yet seeing significant returns on their investments.
Regulation
(This is one, in my opinion, is the most problematic.)
Finally, there may be regulatory or reputational concerns that could make it difficult for cryptocurrency companies to advertise during the Super Bowl. Cryptocurrency is still a largely unregulated industry, and there have been concerns around fraud and other illegal activities. Additionally, some people may view cryptocurrency as a speculative investment or even a scam, which could make it difficult for companies to build trust with potential customers.
Of course, these are just a few potential reasons why there were no crypto-commercials during the 2023 Super Bowl. It’s also worth noting that cryptocurrency companies may choose to advertise through other channels, such as social media or targeted online ads, which may be more cost-effective and better suited to their target audiences. Ultimately, the decision to advertise during the Super Bowl or any other venue will depend on a company’s marketing strategy, budget, and goals.
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