This year’s penultimate NFL Championship game will feature the Los Angeles Rams and the Cincinnati Bengals. It will also feature a new wave of Super Bowl advertisements from emerging crypto companies and long shots willing to bet on the exposure from the most watched sporting event of the year. This year’s game has already earned the moniker, the Crypto Bowl. From Fortune
Super Bowl broadcaster NBC has sold all of its commercial time for the upcoming game—with the network asking as much as $7 million for a 30-second spot, up 27% from last year. Forty-percent of this year’s advertisers are new companies.
The “Super Bowl moment has a particular value that just doesn’t exist elsewhere,” says Dave Sutton, CEO of marketing consultancy TopRight. And for newer companies like cryptocurrency exchanges, which are less-established and traditionally seen as riskier, a Super Bowl ad could offer an invaluable return on investment (ROI), marketing experts say.
The Super Bowl is perhaps the “best vehicle” for smaller, lesser-known brands to generate awareness, says the University of Delaware’s John Antil, an associate professor of marketing who focuses on Super Bowl advertising. Like all brands, crypto companies need to create awareness, engagement, and build consumer trust. But the mainstream perception that crypto investments are risky means that the latter is especially significant—and showing up in an established and expensive event like the Super Bowl cultivates legitimacy and trust, says Andrew Simon, global creative lead and chief creative officer at public relations and marketing consultancy Edelman Canada.
Any exposure is good exposure, especially in front of an audience as massive as the
Super Crypto Bowl still commands. However, new companies spending that much money for an ad spot, historically speaking, could very well be a busted play. Those of you old enough to remember the Dot Com boom of the early 2000’s will recall the internet advertising blitz of the 2000 Super Bowl. 14 companies paid over $2 million for each 30-second ad. Why not ask OnMoney.com, eStamps.com or Pets.com how that worked out for them. We,, you can’t. Each of those sites were defunct by 2002. In fact, of those 14 companies that purchased ad time, only three are still in existence today. I’m not saying that Crypto.com is destined for bankruptcy, far from it. However, for some, that Hail Mary pass they spent millions to launch this weekend could very well become a Pick 6.
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