Super Bowl ads and the future of crypto trading
/After dumping millions into advertisements for the Big Game earlier this year, market insights experts said crypto failed to see an influx of retail investors. Sources cited market uncertainty, including the Russian invasion of Ukraine, as reasons for the tepid response.
Why should we care?
The underwhelming results of these star-studded ads throw into question the effect of influencers on public opinion. Crypto has doubled down on celebrity endorsements in the past year—from Paris Hilton, to Kim Kardashian, to LeBron James, to Matt Damon. Current outcomes suggest that marketing can only do so much in the face of larger, volatile economic conditions. With those results in mind, we may expect crypto marketing to pivot in new directions: less interested in wooing the retail investor, and more determined to convert institutional investors to the digital-asset realm. Influencers and celebrities may play a role in these B2B comms, of course, but they may be of a different kind less known to those outside institutional finance. Leading economic experts, thought leaders, and the like. A revised strategy might make crypto more volatile than it already is, however. Investors are able to take advantage of 24/7 crypto trading to grow and shrink their portfolios according to swings in cost. This may seriously hurt retail traders in the long run, who have fewer resources to engage in constant trading; this may encourage institutional investors to take up a greater share of the space in the coming months and years.