No Crypto Commercials at Super Bowl 2023? Explaining Huge Advertisement Decision

The Super Bowl is one of the biggest events to market brands and companies competing to get their goods in front of the over 100 million viewers that tune in each year.

The Super Bowl last year had so many cryptocurrency adverts that it was called the "Crypto Bowl" because platforms like FTX, Crypto.com, Coinbase, and others paid a lot of money to have their ads broadcast during the game.

This year, things are very different because there won't be any Crypto advertisements in Super Bowl LVII. The Sports Business Journal reported that several of the cryptocurrency businesses who made investments last year acquired numerous spots in advance, including Sam Bankman-Fried's FTX, which had booked a 60-second advertisement before declaring bankruptcy.

Two cryptocurrency advertisers had their ads scheduled and done for this year, while two more were on the 1-yard line, but everyone pulled out once FTX collapsed.

According to Mark Evans, executive vice president of ad sales for Fox Sports, the majority of 30-second advertisements went for between $6 million and $7 million. Any cryptocurrency company that is even somewhat profitable is still focused on survival since the price of major crypto coins is less than half what it was a year ago.

The NFL did not ban crypto companies from airing their commercials during Super Bowl LVII. Instead, cryptocurrency firms themselves pulled out and decided against investing millions of dollars in advertising when their own future appeared bleak.

Former cryptocurrency billionaire Sam Bankman-Fried saw a shocking decline. In April 2019, he established the cryptocurrency exchange FTX. As stated by Alameda Research, in November 2022, millions of dollars of client assets were moved by FTX to Bankman-Fried's hedge fund.

FTX filed for bankruptcy the same month and Fried was detained by Bahamian police on Dec. 12, 2022.

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Booze advertisements will replace the Crypto Ads in the Super Bowl LVII

Anheuser-Busch continues to be the most prominent sponsor, with three minutes of national airtime. Last year, Anheuser-Busch InBev chose to give up its rights and make the Super Bowl available to competitors. Any brewer may enter the field in 2023, therefore Heineken, Diageo, Remy Martin, and Molson Coors are also participating.

According to Evans, other significant types of advertising include those from packaged foods like Doritos and M&Ms, movie studios and streaming services, automobiles, and IT firms.