At the weekend of -2-13-2022, crypto advertising became truly mainstream because various crypto companies advertised during the 2022 Super Bowl. We look back at the advertisement frenzy in 5 frequently asked questions.
1. Which crypto companies participated in crypto advertising during the 2022 Super Bowl?
Of course, we start with the basics. Below you’ll find the advertising companies’ ads during Super Bowl 2022.
Coinbase choose a simple advertisement
First of all, there was Coinbase. Their simple advertisement led to consequences (we’ll tell more about that later).
Now that we have your attention we’d like to announce that we’re giving away $15 in BTC to anyone who joins Coinbase by 2/15.
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Sign up and see terms here → https://t.co/fKHisXZJJc pic.twitter.com/SDWUup2Ql5
— Coinbase (@coinbase) February 14, 2022
FTX doesn’t want you to miss out
Crypto exchange FTX took another point of view. They showed how people rejected many successful inventions at first. Of course, they don’t want you to miss out on the opportunity to trade in crypto.
The next ₿ig thing is here, even if Larry can’t see it.
We’re giving away 7.54 #bitcoin right now to celebrate!
How to enter:
1) Watch our ad!
2) Follow us
3) Retweet this by 11:59 pm EST
Four lucky winners! #FTXContest
No Purch Nec. Subject to T&C: https://t.co/7oCC4YUk0M pic.twitter.com/RosZS0HZAS
— FTX (@FTX_Official) February 14, 2022
eToro focusses on social investing
eToro promoted the idea of social investing by showing how communities react when you ask whether to invest in stocks or crypto.
Stocks, crypto and beyond. Discover the power of social investing #FlyWithUs #eToro pic.twitter.com/P01NJLxDZb
— eToro US (@eToroUS) February 14, 2022
They took another campaign online during the Superbowl with their half-time bingo card.
Ready for the halftime show? Check out our Bingo card full of our best guesses for what happens during the performance.
*This is for entertainment purposes only pic.twitter.com/wuOMDdC7sZ
— eToro US (@eToroUS) February 14, 2022
Back to the future with Crypto.com’s Super Bowl crypto advertisement
The final participant that bought crypto advertising space during the Super Bowl was crypto.com. They decided to go back to the future with basketball legend LeBron James. He talked to his 2003 version.
In his moment of truth, @KingJames called it.
Fortune Favors the Brave #FFTB pic.twitter.com/Snhpit3vnh
— Crypto.com (@cryptocom) February 14, 2022
Besides these official advertisers, many other influencers and companies wanted to gain some Super Bowl exposure without an official partnership. An example is rapper Drake as you can see below.
💰 @Drake bets $1.3 Million in #Bitcoin on Super Bowl bets siding with the @RamsNFL and @obj to have a TD! pic.twitter.com/FDx6j9Qrw8
— CryptoCurrency News (@CryptoBoomNews) February 11, 2022
As we now know, the Rams won, and Odell Backham Jr. (@OBJ) took a touchdown before he left the game with an injury. In the end, Drake won two out of three of his bets. With that result, he added $ 381.000- to his fortune.
2. How successful is crypto advertising around the Super Bowl?
Of course, a lucky bet can be successful, but these professional companies can’t go for a random chance. So the question is how successful this crypto advertising is. We have to look at the costs and benefits to find an answer.
3. What are the costs of crypto advertising during Super Bowl 2022
Of course, advertisers must buy airplay. Since the Super Bowl is so iconic, prices are enormous. The average cost of a 30-second advertisement during Super Bowl half-time was an eye-watering %% 6.5 million dollars. However, costs can quickly increase to over $50 million.
According to Joe Popliano, Coinbase alone spent $ 14 million on its ad.
Coinbase just spent $14 million for a color-changing QR code to bounce around on the screen for 30-seconds during the Super Bowl…
And the website crashed.
— Joe Pompliano (@JoePompliano) February 14, 2022
The question is whether the investments provide enough return.
4. What’s the return on investment for advertising during Super Bowl?
When measuring the return on investment for costs of crypto advertising, we have to consider revenue increase and exposure.
What will be the increase in revenue after Super Bowl advertising?
It’s way too early to say anything about the increase in revenue that crypto advertisers experienced due to crypto advertising. First of all, the actions for engagement they announce are still ongoing. Furthermore, there is also a long term effect due to engagement in the year after the campaign runs. However, there are some indications.
First of all, we can take the Coinbase advertisement as an example. They offer a $ 15- give-away for those scanning the QR-code and making an account. This offer got so popular that the systems crashed, and Coinbase was unreachable for several minutes. The Coinbase app also became the second most popular app in the Apple App Store.
Furthermore, we can learn from the past. For example, last year, the average return on investment for every dollar spent on a Super Bowl advertisement was $ 4,60. Therefore we assume that although investments are enormous, these pay off this year’s expenses.
When we look at exposure, the return on investment might be even higher than last year. First of all the show got a record in viewers. The first analysis shows that 1 in every 4 American households was watching Super Bowl. This led to an estimated 117 million viewers, enough to beat the 2015 final, which attracted 114.4 million viewers.
By the looks of it, it was not enough to create a bullish sentiment since the live Bitcoin price and prices of the top 25 cryptos show a bearish sentiment at the time of writing.
5. How do insiders feel about Super Bowl crypto advertising?
Most of the insiders in crypto were enthusiastic about the success of this form of crypto advertising. They praised the attribution to the mass adoption of crypto and the originality of the campaigns, as we can see in this example.
Coinbase ad was genius.
Unfortunately the website and app crashed under the traffic shortly after the ad ran.
— Pomp 🌪 (@APompliano) February 14, 2022
Changpeng Zhao (the CEO of Binance, usually referred to as CZ) provided a few negative insider comments. Since his company faced a lot of scrutiny from regulators, he addresses that the campaigns might be so successful (and create such a demand) that regulations regarding crypto advertisements might follow.
Clampdown on crypto advertising is unlikely to have much of an effect on demand, says @binance CEO Changpeng Zhao pic.twitter.com/K5EtuWyxGz
— CNBC International (@CNBCi) January 20, 2022
Furthermore, he questions whether this form of crypto advertising will increase demand to justify spending. We guess Coinbase is more than willing to provide an answer.
We conclude this post with a warning. Unfortunately, some crooks will also be trying to scam clueless newbies among many legitimate advertisers. To avoid you being one of them, we shared some tips about preventing yourself from becoming a victim of crypto crime.