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Highlights
- More and more crypto companies are targeting sports events for ads.
- This year’s Super Bowl games saw many sports stars and actors in commercials, including NBA player LeBron James, Idris Alba, and Lindsay Lohan.
- Companies like Twitter Inc. (TWTR), Unity Software Inc. (U), and Marqeta, Inc. (NASDAQ:MQ) may join these super-charged events for advertisements in the future.
More crypto companies are targeting major sports events like Super Bowl for advertisements. Crypto.com’s commercial in Sunday's Super Bowl game seemed a major success. It renamed the Staples Center at the venue to Crypto.com Arena in a US$700 million deal last year.
Commercials are a major revenue source for Super Bowl organizers and broadcasters. This year, many stars appeared in the commercials, including NBA player LeBron James, Idris Alba, Lindsay Lohan, Seth Rogen, Zendaya, Jason Sudeikis, Matthew McConaughey, and many others.
As the game kept the fans on their feet, Sunday's captivating commercials drew massive interest among sports fans and the larger public.
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Many crypto companies, such as Coinbase, FTX, Crypto.com, and eToro, have come out with tailor-made commercials for the Super Bowl LVI on Sunday. Crypto.com’s ad, titled “The Moment of Trust”, celebrates NBA star Lebron James’ illustrious career.
In the ad, the younger Lebron, a school grader, asks his older self, the basketball legend, about the game’s future and if they are ready for it. James' conversation with his younger self, made a huge splash in the ad world over the weekend.
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The commercial was a part of Crypto.com's ad series themed 'Fortune Favors the Brave'. Hollywood star Matt Demon was also part of the commercial in 2021. However, these commercials were not devoid of criticisms. Some people have criticized celebrities endorsing digital assets, arguing that the volatile market isn't safe for investment.
Ahead of the game on Saturday, LeBron tweeted: "Incredible work by Crypto.com. It's time to build a new kind of web." So, why is Web3 Internet technology is seen as a gamechanger?
Also Read: Now crypto firms want to ride on Super Bowl’s popularity, book ads
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Also Read: From AAPL, NVDA, COIN to SQ, top Web 3.0 stocks to explore in US
Web3 Stocks draw attention
Cryptocurrency companies like Crypto.com are a major driver of Web3 growth. Blockchain technology is based on Web3, the next-gen internet computing.
Web3 is the new buzzword in the Internet world. And Web3 may be a natural progression for many technology companies like Apple, Nvidia, and Coinbase.
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Twitter, Inc. (NYSE:TWTR)
Twitter provides a popular communication platform. It could be on course to become a leading player in the decentralized web3 space. The San Francisco, California-based company recently allowed its Twitter Blue subscribers to show their verified NFTs in their timeline.
Unity Software Inc. (NYSE:U)
The company provides a software platform to create and publish interactive, real-time 3D content for mobile phones, PCs, tablets, and AI and VR devices. It is also based in San Francisco, California. Its platform offers the architecture for metaverse development.
Also Read: KEEP, NU tokens merge to form Threshold token (T), get Binance nod
Marqeta, Inc. (NASDAQ:MQ)
The Oakland, California-based Marqeta provides a card-issuing platform to clients. The platform offers tools and infrastructure to provide physical, digital, and tokenized payment options without the intervention of a traditional bank. Marqeta, which became a public company in 2021, works to connect the new payment products with the conventional finance system. The company's tokenized payment cards can be seen as its entry into the Web3 space.
Also Read: From FB, TWTR, SNAP to BMBL, top social media stocks to watch
Bottomline
Celebrity endorsements should not be the basis for picking stocks or cryptocurrencies, although ads influence people's choices. With Web3 and cryptocurrencies vying for a dominant presence in the market, investors must apply due diligence before investing in digital assets.
