There is plenty of advertising everywhere we go, from billboards that appear on car trips to commercials that run every 15 minutes or so during TV shows. It is also a fact that most ads today show messages from major online brands such as Amazon, which was ranked as the largest advertiser in the United States in 2020. Telecom providers and payment giants such as American Express are also included in the list of the largest advertisers in the United States. These companies typically spend billions of dollars annually on marketing messages aimed at informing, persuading and reminding consumers about their products and services.
2022 is the year for announcements about cryptocurrencies
While online brand ads and social media ads continue to bombard consumers, some advertising companies believe crypto companies will dominate advertising in 2022 and beyond.
Mark Dimasimo, founder and chief creative officer of DiGo, a New York-based marketing agency, told Cointelegraph that he believes crypto-focused advertising will surpass the dotcom phenomenon and social media due to the advent of Web3 and the integration of cryptocurrencies into wells. -known digital ecosystems like Metaverse. Dimasimo sa:
“It’s not a typical consumer language, but in every startup I work with or job offer on LinkedIn that I see, I mention Metaverse and Web3 now. Cryptocurrency is central to all of this. So I think there will be more of an advertising boom than an online boom and a social boom. ”
DiMassimo added that the emergence of non-fungible tokens (NFTs) has also increased the popularity of cryptocurrencies. This in turn has enabled crypto companies to receive significant advertising budgets. “Many of the early users focused on word of mouth or advertising through Reddit, Discord and other social channels. However, we have reached the next level, which is manifested through classic marketing and advertising methods,” Dimasimo explained.
For example, DiMassimo noted that the cryptocurrency ads that were shown during the Super Bowl in 2022 highlight the idea that blockchain companies will dominate the advertising world in the future. “I called the 2022 Super Bowl the Crypto Bowl,” he joked. However, according to DiMassimo, the Super Bowl 2022 ads from major crypto companies such as FTX and Coinbase have made a real impact, they have received massive media attention in addition to proving that crypto companies have huge advertising budgets.
An NBC executive revealed that NBC sold ads for the 2022 Super Bowl for $ 6.5 million in 30 seconds to do it right. Bloomberg reports that some ads have sold for $ 7 million this year. “Production values go to Mars and crypto companies want their voices heard in the real world,” Dimasimo said. Thus, he believes that more crypto organizations will sponsor ads with celebrities or sports venues to prove their seriousness.
Do cryptocurrency ads sell false promises?
While the increase in crypto ads is remarkable, some industry experts are aware of the risks associated with crypto companies pushing ads to the masses. For example, Richard Smith, investment expert and COO of the risk management tool RiskSmith, told Cointelegraph that this year’s Super Bowl announcements from crypto companies were disappointing in the sense that they were not completely honest with their audience:
These advertisements revealed no risk associated with high levels of financial speculation. In fact, there was no recognition of the risk – only the rewards. I understood that the Super Bowl ad was fun and easy, but it was not real. ”
Smith explained that the Coinbase Super Bowl ad boasts a free Bitcoin (BTC) reward by scanning a color-changing QR code that quietly moves across a TV screen. Once scanned, the QR code redirected users to a Coinbase landing page announcing a bitcoin gift and a subscription campaign.
Coinbase Super Bowl 2022 Announcement. Source: DiGo
Smith added that the eToro Super Bowl announcement promised users the chance to “go to the moon” by trading cryptocurrencies and stocks.
eToro 2022 Super Bowl announcement. Source: iToro
While these advertisements may be entertaining, Smith believes they will ultimately be unfavorable to crypto companies because of what he sees as a lack of credibility. “I believe that cryptocurrency is more about independence and openness, and that those who are interested in cryptocurrency will be rejected by these clearly tolerant messages.”