Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Jockeying Crypto firms spark advertising bonanza at this years superbowl
Protocol | Lindsey Choo | Feb 10, 2022
The Super Bowl takeover is drawing comparisons to 2000’s “Dot-Com Bowl,” when a fifth of the ad space went to internet startups.
That said, the Super Bowl is “the single most efficient media buy on the planet. The number of impressions delivered in that period of time is unmatched by any other standard, by any other media opportunity out there,” Loeb told Protocol.
See: 7 high-profile athletes taking the high-upside risk of crypto pay
Super Bowl ads are famously expensive, going up to $7 million for a 30-second slot this year, because of their broad reach. It’s not a surprise that they’re sold out this year. Last year’s ads generated over 6.3 billion TV impressions, 26 million online views and 64 billion social impressions.
And it’s not like Sunday’s spots will be a one-off. Since January 2020, over $112.9 million has been spent on national crypto ads, according to iSpot.tv data as reported by Bloomberg.
“This is a new category; you have to establish a brand. Why do I want to trade crypto with Gemini versus FTX? Versus Crypto.com?” Meyer said. “They’re going to try to persuade me, either through their pitch people or through their messaging, that I want to pick them.”
Tightening rules
In the wake of a host of crypto scams related to initial coin offerings, Google, Facebook and Twitter instituted bans on crypto ads in 2018. Those restrictions were substantially loosened last year, but the rules put in place still make it difficult for some firms to advertise.
See: Sep 23, 2021: CSA and IIROC Issue Joint Guidance (Staff Notice 21-330) for Crypto-Trading Platforms Related to Advertising and Social Media
Under Facebook’s crypto ad policy, most advertisers need prior written permission, with some limited exceptions. Google started allowing some cryptocurrency exchanges and wallets to advertise. But Google then tightened its rules to require FinCEN or chartered bank registration, and still doesn’t allow ads for DeFi protocols or specific coins.
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