Super Bowl LVII won’t have ANY crypto ads following FTX’s collapse

Super Bowl LVII will not feature a single cryptocurrency ad, Fox revealed Monday when announcing that in-game ad space for the Chiefs-Eagles matchup has sold out.

A year ago, in what was dubbed the ‘Crypto Bowl,’ FTX, Coinbase, Crypto.com, and eToro launched a torrent of ads featuring Larry David, Tom Brady, and LeBron James in an effort to break into the mainstream.

But in November, FTX filed for bankruptcy and its founder, Sam Bankman-Fried, was accused of a scheme to defraud investors. Even Brady, whose FTX portfolio is now worthless, has been named in a class action lawsuit over the company’s bankruptcy.

This year, things are dramatically different. Two crypto advertisers had commercials ‘booked and ready’ and two others were ‘on the one yard line,’ said Mark Evans, Fox Sports executive vice president of ad sales.

But once the FTX news broke, those deals weren’t completed: “There’s no representation in that category at all on the day.

A year ago, in what was dubbed the ‘Crypto Bowl,’ FTX, Coinbase, Crypto.com and eToro launched a torrent of ads featuring Larry David (right), Tom Brady (left) and LeBron James in an effort to break into the mainstream. But in November, FTX filed for bankruptcy and its founder, Sam Bankman-Fried, was accused of a scheme to defraud investors. Even Brady, whose FTX portfolio is now worthless, has been named in a class action lawsuit over the company’s bankruptcy.

The Super Bowl is advertising’s biggest arena, with advertisers competing to showcase their products to the more than 100 million people who view them each year.

Evans said some ads cost more than $7 million for a 30-second ad. Most sold for between $6 million and $7 million.

Anheuser-Busch remains the largest advertiser with three minutes of national airtime. The beverage giant gave up its contract to be the exclusive advertiser for spirits this year, so Heineken, Diageo, Remy Martin and Molson Coors are also in the game.

Other big advertising categories include packaged foods like Doritos and M&Ms, movie studios and streaming services, car manufacturers and technology companies, Evans said. On sale this year: cryptocurrency companies.

Evans said most Super Bowl ads sold out much earlier than usual, with more than 90 percent of his Super Bowl ad inventory sold out by the end of the summer, as established advertisers competed for prime positions. But the remaining spots sold more slowly. In part, that was due to the implosion of the crypto space, as well as general advertiser concerns about the global economy, Evans said.

Last year, NBC quickly sold its ad space, saying an undisclosed number of 30-second ads sold for $7 million, a jump from $6.5 million for 2021 ads.

LeBron James and his younger self appear during a Crypto.com ad