US-based digital asset exchange Kraken and other cryptocurrency companies have reportedly decided not to purchase advertising space for the biggest marketing event of the year.
Fox Business reports that most major cryptocurrency companies have decided not to run commercials during the San Francisco 49ers and Kansas City Chiefs game in Super Bowl LVIII on Sunday.
Mayur Gupta, chief marketing officer at Kraken, says the Super Bowl may not be the best way to reach the next generation of cryptocurrency users.
“The Super Bowl is a US-centric event, and the next wave of cryptocurrency users will come from all over the world, not just the US.
If the last wave of cryptocurrency marketing was about hype and fear of missing out, this current wave needs to be rooted in education and awareness of the true essence and value of cryptocurrencies as a movement that will bring financial freedom and inclusion. “.
Report too He says Many cryptocurrency companies don't have the money they once did to advertise, and larger companies are finding it more practical to use their money elsewhere.
Coinbase, the largest cryptocurrency exchange in the United States, did not run ads during the event, nor did any of the companies that issued them. Exchange-traded funds (ETFs) for Bitcoin (BTC), including asset management giants BlackRock and Grayscale.
The US Securities and Exchange Commission (SEC) gave the green light to Bitcoin exchange-traded funds in January, but Super Bowl ads were already sold out in November.
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