In a striking departure from the previous year’s advertising spectacle, the 2023 Super Bowl is set to experience a notable decrease in cryptocurrency advertisements, marking a significant shift in the industry’s approach to one of the most sought-after marketing opportunities in the United States.

Coinbase, in 2022, captured widespread attention with a $14 million investment in a 60-second Super Bowl commercial that showcased a moving QR code, effectively drawing significant traffic to its platform. However, the landscape has dramatically changed for Super Bowl LVII, with leading crypto companies, including Kraken and prominent Bitcoin Spot ETF issuers such as BlackRock and Grayscale, opting out of this year’s advertising lineup.

This change is hardly surprising, given the crypto industry’s tumultuous year, underscored by the downfall of FTX. The collapse of FTX has had far-reaching consequences, including legal actions against celebrities like Tom Brady and Larry David, who were featured in FTX’s Super Bowl ad campaign last year.

Despite the downturn in direct crypto advertising, some Web3 companies are finding innovative ways to engage with the Super Bowl audience. Dapper Labs, the creator of NFL All Day, is capitalizing on the event to promote unique NFT drops that spotlight NFL legends Joe Montana and John Elway, in sync with the Super Bowl theme and the NFL playoffs momentum.

With the Super Bowl set to feature a showdown between the San Francisco 49ers and the Kansas City Chiefs in Las Vegas, the crypto industry’s subdued advertising presence during one of America’s biggest sporting events reflects the sector’s ongoing challenges and adjustments.