• Super Bowl LVII will not feature any crypto commercials this year.
• The decision stems from the collapse and bankruptcy of the cryptocurrency exchange FTX.
• Last year, crypto firms invested $54 million in Super Bowl advertisements.
Super Bowl Bans Crypto Commercials
The Super Bowl has banned all crypto commercials from this year’s advertisements following the collapse and bankruptcy of the cryptocurrency exchange FTX. This means that there will be no crypto ads featured in this year’s game, which is a stark contrast to last year’s game when companies such as FTX, Coinbase, Crypto.com, and eToro heavily invested in 30-second commercials featuring celebrities like Larry David and NBA legend LeBron James.
Reason for Ban
The decision to ban crypto commercials was made due to the arrest of FTX’s founder, Sam Bankman-Fried who was charged with defrauding customers of billions. In addition, many companies are struggling with prevalent layoffs, bankruptcies, and intense legal scrutiny due to the fall of FTX in November 2020. Mark Evans, executive vice president of ad sales for Fox Sports said “There’s zero representation in that category on the day at all“.
Cost Per Commercial
For this year’s Super Bowl LVII commercial space cost ranged between $6 million to $7 million with some deals costing more than $7 million. This is much lower than last year when crypto firms spent a total of $54 million on advertising during the biggest NFL game annually which attracts around 100 million viewers globally each year.
Fight Out (FGHT) – Newest Move To Earn Project Rating
Fight Out (FGHT) is a new project that has been rated highly by investors for its potential for earning profits due to its focus on decentralized finance (DeFi). The project uses blockchain technology and smart contracts to create an open financial system accessible to everyone regardless of their geographical location or financial status. The platform also provides users with access to advanced features such as tokenized assets and automated market makers (AMM).
This article discussed how Super Bowl LVII will not feature any crypto ads this year due to the collapse and bankruptcy of cryptocurrency exchange FTX as well as prevalent layoffs, bankruptcies, and intense legal scrutiny faced by many crypto firms after the downfall of FTX in November 2020. Additionally it provided information about Fight Out (FGHT), a new project focused on DeFi which has been rated highly by investors for its potential for earning profits through blockchain technology and smart contracts .