Are you anticipating the possibility of encountering media interactions on social platforms that involve NFT avatars and a partnership between Reddit and the retro-themed Super Bowl? Well, during Sunday’s broadcast of the game, the executive from Fox Sports mentioned that there will indeed be a representation of cryptocurrency in the form of blockchain-based gaming ads, with a few exceptions. So, if you’re concerned about being inundated with these ads and if you’re wondering whether or not you should place a bet, let me remind you, do you recall the cryptocurrency ads from last year’s Super Bowl weekend? Have a happy Super Bowl weekend!
Who here has received their #SBLVII Collectible Avatar? Let’s see our starting lineup below. 🏈👇
During the bankruptcy proceedings, it was also revealed that Fox Corporation, the parent company of Fox Sports, spent a total of $54 million on commercials. Along with Israeli investment firm eToro, FTX, one of the exchanges, aired these commercials. Additionally, Coinbase, Crypto.Com, and FTX provided some cross-generational guidance during the Super Bowl with a pretty weird animated QR code offering for Bitcoin. This coincided with the peak of the crypto industry, fueled by the mass hype around nonfungible tokens and alternative currencies, as well as the interest sparked by the lockdown-inspired industry. It was a big year for crypto exchanges, riding the wave into 2022.
Everything was demolished and underwent FTX until the Super Bowl year when these multiple crypto deals were reported by the Associated Press on Sunday. They are not interested in splurging on another Super Bowl commercial, as the crypto funds are not likely to rebound in time. The new year hasn’t given much relief to this sector, despite a small rally in the price of Bitcoin. You may have little available relief, and it’s likely that your investment may have fallen underwater or been entirely lost, whether you invested in a high-yield cash stash or in the form of token purchases in an exchange or crypto-company stocks. If you took inspiration from David, Larry, or Tom Brady, and invested in the Ethereum token, you may wonder what the ultimate result of those celebrity-endorsed virtual currency ads was. Unfortunately, one can’t help but notice that the coin valuations are much lower and the cryptoverse has been shaken by a series of bankruptcies and scandals, making it hard to believe in the rush for digital gold.
As we look ahead to this year’s matchup, let’s pause and remember the special thanks to CoinDesk for featuring price charts of Nifty, one of the greater cryptocurrencies. If you lost a significant amount of money, just how much, and before the celebrities came in the picture, remember those ads for crypto?
LeBron James
February 13, 2022. Crypto.Com
Crypto.Com announced a multiyear partnership with LeBron James, stating that it would support the NBA star’s charitable foundation by providing educational opportunities and focusing on workforce development. The announcement came on February 13, 2003, coinciding with the debut of Crypto.Com’s Super Bowl ad featuring LeBron talking about his self in 2003 and showcasing the technological wonders of the future, including electric cars, streaming music on your phone, and AirPods.
Slogan: “We are heading to the league! We are heading to the league!”
According to CoinGecko, the crypto-analyst company, Crypto.Com’s trading volume experienced only a slight increase following the advertisement. CNN reported that the NBA invested over $130 million in sponsorships for the league in the previous year, making it a specific area of interest for cryptocurrency. The commercial featuring James may have motivated certain individuals to register as users on Crypto.Com, thereby causing an impact on the market.
How screwed are you if the value of one Bitcoin you bought on James’ right.Com Crypto for $21,749.96 is now worth $42,067.76 and you say, “Let’s go”?
A decrease of 78 percent, resulting in a meager $20.48. At present, 1 SOL had a value of $92.86 on the day of the game. If you are engaging in penny trading, it is only worth 8 cents. On game day, 15 cents for 1 DOGE had an approximate value. There was a decrease of 45 percent, making it worth $1,522.23. Currently, 1 ETH token had a value of $2,782.80 on the Ethereum platform. What about the value of other tokens?
Larry David
February 13, 2022. FTX
Hmm! David Larry’s crypto skepticism is evident in his ad for virtual currency. The New York Times told Jeff Schaffer, the commercial’s director, that David was not paid in crypto for his work. Furthermore, David admitted that he didn’t quite understand crypto before filming the commercial for FTX, the Super Bowl exchange. The co-creator of Seinfeld, Jeff Schaffer, did not understand crypto either and was skeptical of its importance throughout history, as shown by the various costumes in the ad.
Catchphrase: “I always get it right when it comes to this subject.”
(Oh, and Larry David is facing a lawsuit for that advertisement, along with FTX’s other famous representatives.) Clearly, that gathering didn’t endure for a long time. FTX’s application soared in the App Store’s download standings immediately after the Super Bowl and eventually exceeded Coinbase in terms of Bitcoin trading volume three months later, as reported by Protocol. The effect on the market.
How is it again that your fresh Bitcoin holdings have dipped by 48 percent since the same time last year, while Larry should have listened to and fallen in line with other currencies?
Gisele Bündchen, Brady’s former spouse, along with Matt Damon, witnessed the resurgence of the now widely ridiculed commercials. However, the advertising presentations were not restricted to fresh cryptocurrency supporters; both those commercials premiered on the very night of the Super Bowl.
Matthew Damon
October 28, 2021. Crypto.Com
The collaboration between Crypto.Com and veteran actor Matt Damon turned into a long-term partnership, with Damon becoming an investor in the company. As part of this collaboration, Crypto.Com encouraged customers to make charitable donations using cryptocurrencies, particularly in support of clean-water nonprofits. In October, Crypto.Com launched its first global campaign, pouring $100 million into digital and TV commercials featuring Matt Damon.
The centerpiece is intended to be “Fortune Favors the Brave,” but I find the initial sentence of the advertisement to be far more informative: “History is brimming with ‘almosts,’ with individuals who almost embarked on adventures, who almost accomplished their goals, but ultimately, it became overwhelming for them.” I can draw some parallels to the present day from this.
The Canadian cryptocurrency exchange, wanted.Com, is facing increased regulatory scrutiny and is now shedding more of its workforce. It is uncertain whether the partnership with crypto platform Damon will continue. Damon has been criticized by online commentators for encouraging people to invest in the volatile crypto market, especially during the market crash in May. The commercial featuring Damon may have been too effective in attracting users, as the user base of the crypto platform grew five times to 50 million users by May 2022. This rapid growth had a significant impact on the market.
Let’s assume that if the donation of $1 million in Bitcoin had not been converted to fiat, the water for Damon’s nonprofit in October would have been paid by Crypto.Com.
How boned are you? Bitcoin’s price has dropped by 64 percent since that fortuitous fall. Hope you sold it off before that.
It has now plummeted by around 89 percent. Damon’s value has been on the rise, reaching $194.80 this time around, while SOL is currently experiencing an upswing. Even with just a dime, you couldn’t trade it now, as DOGE was worth about a literal quarter. On Damon’s day, the public confronted him about the worth of 1 Ethereum, which slid by 65 percent. What about other tokens?
Tom Brady and Gisele Bündchen
June 29, 2021. FTX Exchange
Wise investment(?). Approximately $70 million was invested in shares, with $1.8 million being collectively contributed by both Brady and Bündchen. Brady possessed a total of 1.14 million common shares in the company, which were valued at around $45 million. On the other hand, Bündchen held 686,781 shares, worth $25 million. It was later revealed during the FTX bankruptcy proceedings that both individuals had undisclosed stakes in the company and received some form of cryptocurrency in return. Additionally, they collaborated with other celebrities, such as Steph Curry, to create advertisements for the service. Fondly reminiscing about their time together, Tom Brady and Gisele Bündchen not only invested in FTX but also became brand ambassadors for the cryptocurrency exchange.
Slogan: “I’m involved!” (Yeah you are, buddy–in deep trouble, that is!).
When Brady initially received it, that bonus is now valued 38 percent lower assuming their holdings were in Bitcoin- Brady’s preferred form of currency. It is probable that their shares will completely disappear as Brady and Bündchen confront the same class-action lawsuit that has targeted Larry David. Specifically, for FTX, during that period, that particular investment yielded positive results. On the day the commercial was released, FTX also achieved one of its highest peaks in trading volume. The value of FTX’s in-house token gradually increased following the celebrity announcement, in addition. Throughout 2021, its revenues reportedly surged by 840 percent and FTX attained a valuation of $18 billion approximately one month after Brady’s announcement, causing a significant impact on the market.
Currently, valued at 65 percent lower, that solitary coin, which was valued at $62,266.30 at that time, is exchanged for one (1) Bitcoin as compensation for returning Brady’s 600th touchdown football to him, a dedicated supporter in October. Plus:
It’s a small consolation. You can take comfort in the fact that only 35 percent, which was worth even less than when Brady paid off his fan, are you going into July 1, 2021, with BTC at $33,541.99.
What about alternative tokens?
Prior to that moment, there were no informative instances of famous individuals endorsing cryptocurrencies. The complete series of Super Bowl crypto advertisements constituted the aforementioned four commercials, which was quite unexpected, maybe.
The D’Amelio Clan
May 5, 2021. Twins
Charli D’Amelio, the TikTok celebrity, received an undisclosed amount of Bitcoin as a birthday gift from her partnered family. The crypto exchange, founded by the Winkelvoss twins, Gemini, collaborated with her family for this special occasion.
Tagline: “As a family, we are gaining knowledge about cryptocurrency. Thank you @gemini for Charli’s birthday present. #GeminiPartner.”
Recently, the Commission and Securities Exchange received a good amount of assistance from Gemini in establishing a partnership with a celebrity, which may have positively impacted their business and public relations. According to Forbes, Gemini is aggressively hiring and experiencing rapid growth. It was stated that Gemini holds more than $30 billion worth of cryptocurrency starting from May 11, indicating a promising year overall. However, both Gemini’s in-house token and Bitcoin suffered losses. This can be attributed in large part to China’s announcement of a Bitcoin mining ban, which resulted in a major crash in the crypto market, wiping out approximately $1 trillion. It is difficult to determine the exact impact.
How are you screwed?
ETH was experiencing a significant increase in value when Charli accessed the platform, with a trading price of approximately $3,450. However, it has now decreased by approximately 56 percent.• Ethereum: How are other tokens performing? In May 2021, DOGE reached a peak value of around 55 cents. It was worth two whole quarters and a nickel!• Dogecoin: Unfortunately, its value has decreased by 55 percent.• Solana: It is currently trading at a relatively low price of about $45.
Spike Lee
July 14, 2021. Coin Cloud
The message is that the old discriminatory money system is against Americans who are not white, but all men are for leading cryptocurrency in digital rebellion. Coin Cloud provides a currency service where users can purchase other digital coins like Tether, Dogecoin, Ethereum, and Bitcoin through ATMs. Spike Lee directed and starred in his most controversial project of 2021, an ad for Coin Cloud.
Lee reduced the value of his paycheck by $340 when he used the ATM. Today, the value of Bitcoin is approximately 32% lower than before. Let’s assume that Lee obtained the amount from a commercial transaction. Newcomers to Crypto can obtain up to $500 worth of Bitcoin just by providing their phone number to Cloud’s Coin ATMs.
“The value can fluctuate rapidly and significantly, both upwards and downwards, and the potential gains can be substantial, but so can the risks associated with trading or holding.” Slogan: “Conduct thorough research independently.”
During this week, the corporation submitted for insolvency. Despite being the home state of Lee, it continues to lack any automated teller machines. The machines depicted in the video are known as props; Coin Cloud’s official website stated that it did not have any ATMs in New York City at the time Spike Lee filmed his advertisement there, as stated by New York magazine. This occurrence is expected to have an influence on the market.
How is it that Bitcoin, which was valued around $33,000 at the time, experienced a steady recovery throughout the month until the end of July, despite plunging by 32 percent?
At a minimum of $10, if you happen to stumble upon an advertisement for an ATM Cloud Coin right after watching Solana’s latest episode, don’t forget to trade in two dimes for a quarter. Unfortunately, as of June 1st, Dogecoin has experienced a significant decline of 37%, leaving it at a value of $31.36. And to add to the disappointment, Ethereum is currently worth approximately $2,400. So, what about other tokens?
Several celebrities crashed and lingered throughout the evening, affecting the pocketbooks of media and tech companies in the process. As a result, ad budgets were naturally curtailed, leading to a significant decrease in spending industrywide. This trend was further accelerated by the implosion of FTX, which occurred in November. In response, eToro, Crypto.Com, and Coinbase made steep staff cuts to stay afloat. Unfortunately, this strategy didn’t work for Coinbase, as it narrowly avoided bankruptcy. The effects of this chaos were felt across the industry, with popular “altcoins” and Bitcoin experiencing a significant decline in value. The crypto market experienced one of its most crippling downturns in recent months, culminating after the Super Bowl. It is still unclear what will happen next and how the industry will recover from this setback.
Naomi Osaka
March 21, 2022. FTX
If @StephenCurry30 @TomBrady and @giseleofficial are in then you know I am too! Excited for the journey ahead with @FTX_Official and SBF_FTX 🚀 pic.twitter.com/ydrjhoKPaL
Hey, you can’t deny that crypto fans always say there’s a lack of self-awareness in advertising brain trust, figuring out various possible themes for an ad featuring dragons, moon, and Comics. Osaka simply settled in her room, yet to come up with all the exciting possibilities. As part of FTX’s push to bring more young investors and women into crypto, the TV ad announcing her partnership with FTX came in the form of an undisclosed long-term contract, compensation in cryptocurrency and equity stake, and a special FTX-branded gear.
Slogan: “If @StephenCurry30 @TomBrady and @giseleofficial are involved, you can be sure that I am as well!”
On the day she made her announcement, if Osaka (or you) had been paid in Bitcoin, that stash would now be worth approximately 47 percent less, with 1 BTC priced at $41,034.06. How much of a setback would that be for you?
Ethereum: The price of Ethereum has been reduced by 50%, resulting in 1 ETH being valued at nearly $3,000. Dogecoin: Therefore, you didn’t experience a significant loss as its value decreased by only 12 cents. Solana: The price of Solana has dropped by over 75%, indicating that 1 SOL was previously valued at $88.74.
Stephen Curry
March 29, 2022. FTX
The Golden State superstar acquired an undisclosed ownership share through a partnership with FTX in September. This came after a advertisement that reassures hesitant FTX users about the ease of using its platform. FTX’s application makes everything effortless for him, even though Steph Curry has denied having any knowledge about cryptocurrency to Shaq, who is narrating off screen. Apart from the unattractive Bored Ape ice sculpture that you observe Curry sculpting in front of a residence, what could possibly go awry?
Motto: “I’m not a specialist, and I don’t require to be.”.
The class-action lawsuit includes Osaka, David, and Brady, along with Curry, who are worried about the source. However, Curry may not be fazed by the sharp plunge in the crypto market, as he has long been familiar with it. In fact, he is considering it seriously. This is because he claimed to have bought $3 million worth of BTC in September 2021, when Michael Saylor, the famed Bitcoin maxi, offered crypto advice. The impact on the market would only be $1.41 million now.
I apologize for the confusion, but if you had told me in March that you had bought $3 million worth of Bitcoin, it would only be worth about $1.52 million now.
What are the other details referring to?• Ethereum: At that time, 1 ETH had a value of $3,402.95 and currently, it is worth approximately 55 percent less.• Dogecoin: The current value of 1 DOGE is only 6 cents higher than 14 cents.• Solana: Currently, its value is only about 18 percent of the mentioned value, but 1 SOL was priced at $111.69.
Joel Embiid
May 6, 2022. Cryptocurrency.Com
Crypto.Com is an interesting platform where a Cameroonian immigrant who is pursuing a professional basketball career in the U.S. Is trading. Interestingly, before becoming a star player in the NBA, Joel Embiid faced both adversity and stardom along an unconventional path. This narrative of his inspirational journey is narrated by his college coach, Bill Self, during a few months prior to Embiid joining the big and athletic team, the Philadelphia 76ers.
Motto: “We persevere until our journey becomes the one they regret not embarking on.”
The market experienced a significant increase in trading volume in the days following the downfall of the entire crypto market, which occurred just a week after the trust had a good process. However, the volume exchange’s recovery is still not complete. The impact on the market was evident.
Currently, that is only valued at approximately 40 percent lower. Therefore, with a value of around $36,000, BTC was already declining last May, which might be a source of comfort. How much trouble are you in? Interestingly.
Goodness! Currently valued at more than 75 percent higher than today: Solana. Well then. When DOGE started plummeting from an average of 12 cents to around 8 cents, this was the right time. Of course, now the currency is even worth less, about 41 percent. The cameras were on Embiid when Ethereum (ETH) was also sliding at this point, down to $2,600. What about other tokens?
Future Tense is a collaboration between Slate, New America, and Arizona State University that explores emerging technologies, public policy, and society.