Fans watching the Kansas City Chiefs take on the Philadelphia Eagles in Super Bowl LVII on February 12 will reportedly not see a large amount of banner ads for cryptocurrency companies like they did in 2022.
According to a February 6 Associated Press report, there are had There have been four potential deals with crypto firms for commercials worth roughly $6 to $7 million in the 2023 Super Bowl, all of which fell apart following FTX’s November bankruptcy filing. Fox Sports executive vice president of ad sales Mark Evans reportedly said there would be “zero representation” from major cryptocurrency companies on February 12, when approximately 100 million people would be able to tune in to the football game.
During Super Bowl LVI in 2022, companies like FTX, eToro, Crypto.com, and Coinbase debuted ads. The FTX commercial, which aired about nine months before the company filed for Chapter 11 bankruptcy and former CEO Sam Bankman-Fried was indicted for fraud, featured comedian Larry David telling customers, “Don’t be lose” cryptocurrencies.
David was later listed in a class action lawsuit alleging that he promoted cryptocurrency trading to investors without performing any due diligence. Other celebrities who have endorsed crypto companies, such as Matt Damon, for Crypto.com, and tennis star Naomi Osaka, for FTX, have also faced criticism from users.
Despite the AP report, gaming startup Limit Break Announced on February 6 that it will air an interactive ad during Super Bowl LVII in which it plans to give away dragon-themed non-fungible tokens, or NFTs. The ad will apparently not feature a celebrity, but instead include a QR code for viewers to scan.
Related: Tom Brady and other celebrities named in class action lawsuit against FTX
Many global authorities have focused on crypto announcements in the wake of the 2022 market crash and companies like FTX, Voyager Digital, BlockFi, and Celsius Network filing for bankruptcy. The United States Federal Trade Commission has reportedly opened an investigation into several crypto companies for “potential misconduct related to digital assets.” In January, the Governor of the Central Bank of Ireland also said that he would support legislation that would ban the advertising of crypto projects to young people. .
